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Surfers' Girl Email Advices

Ref: 903033
Subject: $400,000 property investment or a meagre interest from the CPF?

Tan, wrote:

Hi,

I am an ex-Singaporean now living in the San Francisco Bay Area. I have some unused money in my CPF account and I'm thinking how I can better make use of this money than leaving it in the account. One of the more obvious possibilities is to use it to buy a property that I can hold as investment and rent out for income.

I have not been back in quite a while and don't have a good idea of property price in Singapore. I have heard, though, that it's gone through the roof. So I'm wondering what S$400,000 can buy. A HDB flat only??

Or some smallish private studio or 1-bedroom apartment? Hope you can help by sending me some information about property prices generally, and also some prospective properties listed for sale at S$400,000, give or take some. From the information in your website, I gather you do both rental and sale. I plan to visit Singapore some time in the next few months and the information you send would be good orientation material. My e-mail address is: tan@....com. Thanks in advance...

Reply

Subject: Purchase a Singapore property,
Date: Tue, 02 Mar 1999 08:19:46 +0800
From: David Sing drsing@asiahomes.com
Organization: http://www.asiahomes.com. Free house-hunting services for expats. (65) 9668 6468.

To: <Tan@.....com>

Hi

Generally, sales prices of condos in non D9, 10 & 11 have dropped to around $400 psf. Therefore a 2-bedroom 1000sf 99-year lease will cost your around $400,000 but you may have great difficulty finding expat tenants since your location is way off.

For investment properties, buy newer well located properties near subway and/or downtown. E.g. Aspen Hts Condo but it costs more than $700psf. Some run-down apartments in downtown may be worth a gamble in case there is enbloc sale but don't have high hopes as the fever has subsided and no developer is going to offer you double as it happened 3 years ago.

HDB resales ones - 5 room cost around $400,000 in Bishan, a top area and a younger estate.

You still need 20% of valuation as cash even if you use CPF.

Hope this brief helps as it is a big book to write if we go into details. What are you doing overseas? Any good investments in your locality?

Best wishes.