If you are a Singaporean/PR first time buyer, I recommend resale HDB. This is due to the generous subsidies and grants meted out to help citizens afford their first homes.
There are certain criteria to these grants and the amount received is dependent on combined income.
For Executive condominium (EC)
The amount varies from $5,000 – $30,000 depending on your income when purchase from developer.
For Resale Flat Buyers
CPF Housing Grant: The CPF Housing Grant provides first-time homeowners earning up to $12,000 and buying a resale flat a grant of $50,000 for 4-room and smaller flats and $40,000 for 5-room or larger flats.
Proximity Housing Grant: If you are buying a resale flat in the same town or within 2km of where your parents are staying, or are intending to stay with them in the same flat, you will be eligible for the $20,000 Proximity Housing Grant (PHG).
No subsidies given to resale condominiums.
Thus, it is good to make use of the "discount" given by the government. When you are looking to sell, the capital gain (percentage yield) will be higher as compared to EC and condominiums.
Check out what property I would buy if I had $1M in cash!
https://www.youtube.com/watch?v=7KqketogfP4
If you are a Singaporean/PR first time buyer, I recommend resale HDB. This is due to the generous subsidies and grants meted out to help citizens afford their first homes.
There are certain criteria to these grants and the amount received is dependent on combined income.
For Executive condominium (EC)
The amount varies from $5,000 – $30,000 depending on your income when purchase from developer.
For Resale Flat Buyers
CPF Housing Grant: The CPF Housing Grant provides first-time homeowners earning up to $12,000 and buying a resale flat a grant of $50,000 for 4-room and smaller flats and $40,000 for 5-room or larger flats.
Proximity Housing Grant: If you are buying a resale flat in the same town or within 2km of where your parents are staying, or are intending to stay with them in the same flat, you will be eligible for the $20,000 Proximity Housing Grant (PHG).
No subsidies given to resale condominiums.
Thus, it is good to make use of the "discount" given by the government. When you are looking to sell, the capital gain (percentage yield) will be higher as compared to EC and condominiums.
Check out what property I would buy if I had $1M in cash!
https://www.youtube.com/watch?v=7KqketogfP4