Receive a free affordability report.
Unsure if you are in the financial position to afford a private property?
Curious to find out more about the instalment breakdown of a condo purchase?
Simply take our quick 5-min questionnaire, and we will send you a customised analysis!
1
Estimated property budget
based on your financials
2
Estimated bank loan, cash and CPF outlay, monthly instalments
3
Different scenarios &
options to own the property
4
Estimated amount of
reserve funds to set aside
5
Generated for you
at no cost and no obligations!
Who is suitable to consider a Condo?
HDB owner(s), existing flat owned for 5 years or above
First-time buyer(s),
no properties owned currently
Investor considering short/long-term property investments
Buying a condo in Singapore? How much to afford a condo?
Well, if you are any of the above AND earning a combined household income of 10k or above, you are in a likely position to buy a new condo or resale condo comfortably, whether you are Singaporean or PR.
Many of our clients have managed to buy private properties in Singapore without paying extra cash from their pockets. With the right planning, you do not have to deplete your savings (always keep within your means!).
While the combined income is a rough benchmark, a proper financial analysis is still required to determine your affordability. This is why we recommend you taking our questionnaire.
Why consider private properties?
Home owners or investors who are looking for capital growth in their property understand that HDB flat is not meant for that. Public housing has to remain affordable for masses. [1]
Capital appreciation:
Private property prices have all along outpaced the price appreciation of HDB flats. Over the past 10 years, the average price growth was 31.7%.
Singapore's economic fundamentals have remained robust. Strategic policies, political stability, transparency, safety and ease of doing business, continue to attract foreign investors. [3]
How did the 2020 pandemic impact Private Properties and Condominium launches?
Historical data on private property housing has shown that sales demand typically recovers shortly after each crisis, indicating resilience in the residential market. True enough, demand has been healthy in the private property market and has been rising since the pandemic period.
Singapore’s property market “has been remarkably resilient” in the face of the pandemic and that year’s recession — The private property index was 5.6% above its pre-pandemic levels in the first quarter while nominal gross domestic product was about 4% below. [4] As for growth, Singapore private home prices are on its fifth consecutive quarterly rise as of July 2021, according to estimates by URA.
Which condominiums should I buy?
If you are looking for the one single best project in Singapore,
reconsider your approach.
There is no one-size-fits-all property — the Condominium recommended to Person A might not be the best for Person B.
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There are so many condos for sale in Singapore, be it new or resale. We get questions all the time such as "Which condominiums are the best ones to buy? What is a fair condominium price?".
There is no one best project for everyone. Everyone’s case is unique and different — No one person shares the same objectives, financials, risk profile and timeline. Every condominium also shares different competitive landscape, and hence their fair entry prices and exit prices differ.
Some might think: Cheap condominiums with low price psf must be a steal! This is where you must realise — in real estate, cheapest does NOT mean the same as value-for-money. It also does not mean that your ROI is higher in the future.
There are, however, undervalued condominiums in Singapore.
How do you determine and identify undervalued developments? Here's where we come into the picture. At LoukProp, we do up a custom assessment for you. We filter through the condominium options with our 4R analysis method, to find undervalued condominiums that best suit your needs. We analyse factors such as entry price, exit price, exit strategy and rental potential.
HOW are we different?
How do we value add to you?
❌ No fancy story
❌ No hard-selling
❌ No gimmicks
We focus on facts and figures, and come up with strategic recommendations to help you achieve your property goals and grow your asset wealth.
What we will provide:
Free Report
Your first step is to take our quick questionnaire, and we will generate a preliminary free assessment report based on your responses.
This step is objective, un-biased and gives you a complete understanding of your financial position, affordability and budget, and a conservative range of condominium prices you should be looking at.
Our report also factors in BSD (Buyer's Stamp Duty) or ABSD (Additional Buyer's Stamp Duty) and condo downpayment, and breaks down calculations into CPF or Cash. This helps you to understand how suitable you are to buy a condo in Singapore.
If you are not eligible or suitable at this point of time, we will let you know accordingly and advise objectively. If you are, we proceed to develop a more detailed analysis.
Consultation
Our report will allow you to have a better idea of the different options available for you if you were to purchase a Condominium. A breakdown of calculations and instalments will also be provided for each scenario. To understand these calculations effectively and find out what are your next steps, a consultation with us is highly recommended.
Our consultation process is free and non-obligatory. During our consultation, we will also factor in your objectives, needs, risk profile and our 4-step financial calculation process, making your analysis even more complete.
'4R' Analysis
With a clear understanding of your profile, we will proceed to filter through different Condominiums/Private properties to determine the most suitable property for you.
Our 4R method is applied to narrow down to condominiums that match your needs and budget, and are under-valued. Our 4R method is backed heavily with data and figures, not future predictions, and has helped many of our clients discover their ideal property.
Timeline &
Roadmap
We will explain to you the timeline of buying a New Launch Condominium and/or the timeline of buying a Resale Condominium.
Processing of bank loan, appointing law firm, exercising OTP (Option to Purchase) and the different stages of payments including legal fees — all these should follow a correct timeline to facilitate the process of a Condominium purchase smoothly.
To value-add, we also provide
-
A conservative & achievable asset progression plan, allowing you to accumulate wealth earlier
-
A property investment “roadmap” in planned phases for the next 5 to 10 years
Case Studies
Of course, many clients earning $10k salaries have come to us with worries that they cannot afford a Condominium at first. With our step-by-step asset progression planning, they have since upgraded comfortably to own a Condominium in Singapore.
Insights and results from these real life cases can definitely be shared with you!
When is it a good time to buy a condo?
There is no fixed time —
Every market condition presents opportunities, at any one point of time. Recent buyers have taken advantage of lower interest rates in the current market.
If you are an HDB flat owner, it would make sense for you to start planning once your house is reaching its Minimum Occupation Period (MOP) of five years.
If you are a PR or foreigner who have been renting for long-term stay, it is a good time for you to find out if you are able to afford your own Condominium instead!
So, start planning today!
Start planning today!
The key lies in having a proper consultation and analysis done up as early as possible, so you know what your options and next steps are.
1
Estimated property budget
based on your financials
2
Estimated bank loan, cash
and CPF outlay, instalments
3
Different scenarios &
options to own the property
4
Estimated amount of reserve
funds to set aside
5
Generated for you
at no cost and no obligations!
Receive a one-time complimentary analysis and find out if you are able to own a Condominium comfortably!
We take pride in our work.
Nicole Soh
Louis was recommended to us by our friend and we are thankful to have him guide us through our first home sale. He is very knowledgeable and extremely responsible! Would recommend him to my friends and family!
[⭐️⭐️⭐️⭐️⭐️ Google Review]
Darren Neo
We found Louis through YouTube, and we clicked right away. As first-time buyers of a private property, we appreciated how Louis crafted a realistic and detailed plan for us. His thorough approach and clear communication made the entire process smooth and manageable. Our timeline was crucial, and we couldn’t afford any gaps without a home. Louis's meticulous planning and timely execution ensured we stayed on track and found the perfect property. We’re extremely satisfied with the outcome and highly recommend Louis for his expertise and reliability.
[⭐️⭐️⭐️⭐️⭐️ Google Review]
Louis has gone above and beyond in our purchase, sale and rental journeys these past few years. It is no exaggeration when I say Louis is probably the only property agent you'll ever need! Coupled with his knowledge, he is realistic and never over-promises. If you let Louis navigate you on property journey especially if it's your first time, then you have made the right choice! Keep up the good work Louis 👏 🫰
[⭐️⭐️⭐️⭐️⭐️ Google Review]
