[henry2703]

don't look at it that way... Property prices (or economy) has to go up and down.. so that those who missed it when it is going up, can catch up with the others...

Just an example. I was looking at an apartment which cost about SGD $ 1 million in singapore. I woudl need to put a down payment of SGD 200k to buy it if i want to.

Currently (after about 6 months.) the same property is worth about SGD $1.5 million (yes.. it is crazy in Singapore) Which means, I would need SGD $150k to put as downpayment if i want the house.

Now.... 6 months, and 50k extra... unless i am in a super high paying job, or i drink plain water for all my meals... there is no way i can save another 50k in 6 months, well not in singapore, until 2009 when the casino opens up.

In cases like these, people get left behind in the runs of the economy. So... correction of prices actually allows those left behind (like me) to catch up with the rest of the crowd! hahha....

But it is too late now.. i used that money to buy the car... now i am going to be left behind for a long long time... sniff sniff...

[ed-320d]

Originally Posted by henry2703

Just an example. I was looking at an apartment which cost about SGD $ 1 million in singapore. I woudl need to put a down payment of SGD 200k to buy it if i want to.

Currently (after about 6 months.) the same property is worth about SGD $1.5 million (yes.. it is crazy in Singapore) Which means, I would need SGD $150k to put as downpayment if i want the house.

The higher property price, the lower the deposit?

[astra]

Wow, this is...

[henry2703]

Originally Posted by ed-320d

The higher property price, the lower the deposit?

my apologise.... it should be 300k....

In singapore, you can't buy any properties, unless you are able to pay 20% upfront.

thanks for spotting that