After years of hard work, you have nearly reached the pinnacle of your career. But just as you start thinking about acquiring your next home or making that long-awaited ascent up the property ladder, reality hits! Home prices have risen substantially in recent years, and it feels like your dream of owning a home is further away.

And then it dawns on you: despite your high salary, juggling financial obligations and commitments has left you exhausted. You start to wonder if there are still ways for you to chase your property dream. In case you are curious, there is a specific term for it: High Earner Not Rich Yet, or simply, HENRY.

Owning a condo in Singapore is often aspirational, with many homebuyers drawn to the unbeatable mix of ample facilities, modern amenities and prime locations that such dwellings offer. These perks come at a cost, but the potential rewards do justify the investment.

Previously, we touched on how the extension of the Central Business District Incentive (CBDI) and Strategic Development Incentive (SDI) schemes matter in the CBD’s revival, serving as catalysts for the redevelopment of older buildings in the city. In much the same way, we believe that Marina South – the extension to Singapore’s CBD – will play a pivotal role in transforming our country’s landscape.

It’s often said that location is the most important factor when buying a new home. While that is almost always the gospel truth, price is undeniably the next-most crucial point of consideration for any aspiring homeowner. 

Amidst the current market where prices for private properties are on the uptrend, it’s more important than ever to carefully evaluate what you’re able to afford. Naturally, this process warrants checking out the sticker prices for condos (both new and resale), however you’ll also need to account for other considerations – not least your current financial commitments, interest rates, and borrowing limits. 

We’ve witnessed an interesting shift in the HDB resale market in recent years—an increasing number of homeowners are turning their attention to older flats, specifically those that are at least 40 years old. These older flats, once considered less desirable due to their age, have gradually become more prominent in the resale market.