Aiming to purchase first private property - Save $ into bank or invest ?

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For me, I have allocated the sum of money used for the first deposit of property purchase (i.e. 5% of the property price) in high-interest accounts such as Singtel Dash, Singlife (note that the returns dropped to 1% p.a. from 1 Jul 2020 onwards), or robo investors such as Syfe and Endowus.

I think there is nothing wrong with doing both (saving and investing) at the same time, if you can afford it. For a 5 year timeframe you can go for Endowus (I invest my CPF OA in it and it has given me decent returns over the last 9 months; they also allow cash investments) if you want to be relatively hands off. Can just let them pick out a model portfolio for you based on your risk/volatility tolerance.

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At the same time it would be good to start saving up every month as well to build a strong base of emergency funds since you are self-employed. If your timeline is flexible, you can reassess again after 5 years and see whether you are ready to purchase the private property.

For me even with CPF I had sold my assets, majority of them and sitting on cash management account, some in Endowus Smart and Stashaway simple, a small portion in elsewhere. Buying property the key thing is fast cash when you sign the S&P, once you see a good deal, drop the cheque already.

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This is what I had did, to put in low risk cash management earning just 1%+ I'm looking to buy a property soon as well.