How do young adults in their 20s or 30s afford a 3 to 4 rooms condomium costing more than 1m? Assuming having worked for less than 10 years?

1. Have a thick family finance background and funding by parents.
2. Have a relatively high starting pay, to pay the remaining instalments plans.

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Real-life case: A friend of mine bought a $2.2m condo unit @ Tanjong Rhu, parents paid for him $1m, then he shoulder $1.2m bank loan for the unit.

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#Just2centshere

This is definitely very possible, and can be done without the so called 'external help' (family) or sufferring as many assumed.

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TLDR Pro tips here you go:

• Get a high income job
• If didn't start with a high income (mostly professional) job, side hustle or work your way up smartly to generate more income
• Set aside money to invest, appropriately, for the upside

Let's assume someone who has worked for 7.5 year (meeting the <10years condition above), and for a $1m condo requires 25% downpayment, which is $250k. To get to $250k in 7.5 years you just need to save around 3k (rounded up). Now this is purely from the sum of your monthly savings, without even considering any investments, AND without even considering touching CPF.

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Then when it comes to the monthly mortgage servicing, assuming monthly mortgage $3.5k (again rounded up) and maxing out the TDSR 60%, you need a $6k salary. This definitely does not seem out of reach if we talk about someone who's been in the workforce for that many years AND had been working hard to climb up the ladder via promotion, upskill, salary increment etc etc.

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Like many things in life many times it depends on our mindset which guides the actions that we take. Many people find it hard to believe that something is possible mainly because they haven't know of or seen anyone successfully doing it (haven't seen, so don't believe), where in fact it can be quite realistic if you know what to do and how, with the right mindset. If you want you can check out my IG @richlifewithdavid for more free resources on money mindset and hacks.

High income with Mortgage and supplemented with family wealth for the down payment, or FIRE... but anyway.. not exactly the most sustainable way when you know you aren't happy with a small size home. It seems that there are too many people having their lifestyle constraint by their finance instead of having it being empowered.

Many i know have the downpayment (ie upfront cash) paid for by their parents/family.