Topic 7 Flashcards

1
Q

What are the main types of residential property in Singapore

A

public sector
private property
semi private

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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
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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
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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)

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5
Q

What are the valuation approaches?

A

cost approach
comparative sales approach
income approach

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