Topic 7 Flashcards
1
Q
What are the main types of residential property in Singapore
A
public sector
private property
semi private
2
Q
What are the factors affecting property prices in Singapore
A
general economic conditions population changes affordability and availability of money infrastructure govt. housing policies and measures
3
Q
What are the costs of buying and maintaining a property
A
commission legal cost stamp duty valuation fee insurance premium property tax maintenance cost utilities mortgage payments
4
Q
What are the steps to calculate how much you can afford?
A
compute the max. cash instalment per mth
compute the max amt. of CPF funds you can use each mth
Add the 2 components
calculate the max loan
compute max. affordable purchase price
determine if you have sufficient funds (downpayment, monthly instalment)
5
Q
What are the valuation approaches?
A
cost approach
comparative sales approach
income approach