Asked 2w ago
I have 2 rules when it comes to knowing how much real estate you can afford.
1) Not more than 30% of your income paid monthly as mortgage.
2) Not more than 5 - 7 X Annual Income for the value of your home.
So that's about 320k mortgage at 1.8% 30-year tenure which would be just below 30% of your income if you follow rule one or at max a 327k home if you follow rule two.
There are no condos in Singapore at this price. So I would instead recommend to buy resale if you can, or rent until your income increases.