As for now..
Let's talk about investing. Specifically, investing in property in Singapore!!
What are the financial instruments available for us to have an alternate source of income besides our 9-5 job?? Let's list them! For the average Singaporean, he/she will have access to: fixed deposits, bonds, stocks, loans (you can leverage on your investment, but this is not encouraged) and also....PROPERTY!
From deposits, you get interest income.
From stocks, you basically get dividend income.
From loans, you make capital gains if your investment is successful.
And from property, you get rental income. Or if you see it as an asset for buy-and-sell, then you gain capital from the successful sale of it!
But if you see your house as a shelter over your head, please don't consider trading it!
And let's look at me.
I have been staying in Singapore HDB ever since i came out of my mother's womb! And i am very happy staying in HDB. It's convenient and not as squeezed up as the modern condominiums you see around you. Really!! Condominium units are really shrinking in every way, besides the price.
And what are the benefits of living in HDB apartments?
Well, for one......there are two things that your creditors basically cannot lay a finger on. Your CPF savings, and your HDB flat. Why? Logically speaking, it is because of the government's protectiveness over us. It is to ensure that we have a safety net to fall back on when we're down and out: as long as we have a roof over our heads!
How is it possible that creditors cannot touch our HDB apartments??
Under the Housing & Development Act Chpt 129, S50(1) No flat, house or other building which has been sold by the Board under the provisions of this Part shall be sold, leased, mortgaged or disposed of without the prior written consent of the Board.
So even if you want to use your apartment as a collateral, you have to go through HDB themselves first.
And under S51(1), No lien by deposit of the title deeds, as security for a debt, of any flat, house or other building that has been sold by the Board under the provisions of this Part shall be capable of being created in favour of any person and no caveat in support of any such lien by deposit shall be capable of being registered under the provisions of the Registration of Deeds Act (Cap. 269) or the Land Titles Act (Cap. 157).
This means that you cannot offer the title deeds of your HDB property as a form of security, NO MATTER WHAT.
Well of course, if you fail to complete paying for your flat, HDB will take it back and sell it off :)
And let's look at one of the online portals where you can get to know the latest prices and information regarding the property market in Singapore! And that's ST701!
For sellers, you can place ads upon registering with them for FREE.
For buyers, you are able to look for ads posted which are further categorised into: Condo, Landed, HDB/HUDC and Commercial! Then you can specify the preferred location and price range, hence saving yourself lots of time and effort!! Isn't that extremely convenient??
But if you're not intent on buying or selling apartments, you might want to keep yourself abreast of the market itself and develop ideas (which can make more than a quick buck) in order to have an extra conversation topic which can make you look more updated and very insightful!! Won't that be a literal chick magnet??
Besides, in order to educate Singaporeans and other site visitors, ST701 has posted guides and articles for us to browse through in order to protect us from missing any important detail such as creating a budget for the flat, knowing what are the requirements when we intend to use our CPF savings to buy an apartment, etc etc!!
Isn't that everything in a package? That's ALL-IN-ONE!!
Interested to know more about Singapore Property? Click on the link!
Did I happen to bore you guys? No I didn't!
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