Moreover, new condo launches also provide buyers with a longer period to make payments. Traditional payment methods often have a shorter timeframe, which can result in higher monthly installments. This can be a problem for buyers who may have other financial commitments, such as car loans or education fees. However, with the progressive payment scheme, buyers have a longer period to make payments, usually spanning three to four years. This results in lower monthly installments, making owning a home more affordable.
Banks in Singapore provide attractive mortgage rates to eligible buyers, making condo investments more feasible. Additionally, utilizing CPF funds for property purchases aids local investors in handling initial payments and ongoing installments. However, it is important to be aware of potential increases in interest rates, which could affect cash flow and overall profits. Therefore, many investors opt to incorporate financial buffers and focus on long-term trends as opposed to …