Singapore Property Affordability Calculator - Home Buying Calculator
LTV Ratios 2024
| Property Type | First Property | Second Property |
|---|---|---|
| HDB | 90% | N/A |
| Private Property | 75% | 45% |
| Executive Condo | 75% | 45% |
The Singapore Property Affordability Calculator helps you determine how much property you can afford based on your income, CPF savings, and loan eligibility. Plan your home purchase with accurate affordability analysis for Singapore's property market.
How to Use the Property Affordability Calculator
Determine your property buying power with our comprehensive calculator:
- Enter Monthly Income - Your gross monthly salary before deductions
- CPF OA Balance - Available CPF Ordinary Account funds
- Cash Savings - Available cash for property purchase
- Monthly Debt - Existing loan commitments (car, personal loans)
- Property Type - HDB or private property
- Buyer Profile - First-time buyer or subsequent property
- Loan Terms - Preferred loan tenure and interest rate
- Calculate - Get detailed affordability analysis
Understanding Property Affordability in Singapore
Key Affordability Factors:
- Debt Service Ratio (DSR): Maximum 60% of gross monthly income
- Loan-to-Value (LTV) Ratio: Varies by property type and buyer profile
- Down Payment: Minimum 5% cash + remaining from CPF/cash
- Additional Costs: Stamp duty, legal fees, renovation
Income Assessment:
- Gross Monthly Income: Before CPF and tax deductions
- Stable Income: Regular salary, bonuses, allowances
- Variable Income: Commission, overtime (may be discounted)
- Joint Application: Combined income for married couples
Loan-to-Value (LTV) Ratios
HDB Properties:
- First HDB: Up to 90% LTV
- HDB Loan: Up to 90% with 2.6% interest rate
- Bank Loan: Up to 75% with market rates
- Eligibility: Must meet HDB income ceiling and citizenship requirements
Private Properties:
- First Property: Up to 75% LTV
- Second Property: Up to 45% LTV (significant cooling measure)
- Third+ Property: Up to 45% LTV
- Investment Property: Lower LTV for non-owner occupied
Executive Condominiums (EC):
- First EC: Up to 75% LTV
- Second Property: Up to 45% LTV
- Income Ceiling: Must meet EC income requirements
- Citizenship: At least one applicant must be Singapore citizen
Down Payment Requirements
Understanding the cash and CPF components:
- Minimum Cash: 5% of property price (cannot use CPF)
- Remaining Down Payment: Can use CPF OA funds
- CPF Usage Limit: Up to Valuation Limit (VL) or purchase price
- Accrued Interest: Must be refunded to CPF upon sale
- Emergency Fund: Keep separate cash reserves for emergencies
- Renovation Costs: Additional 10-20% of property price
Additional Property Purchase Costs
Stamp Duty:
- Buyer's Stamp Duty (BSD): 1-4% progressive rates
- Additional Buyer's Stamp Duty (ABSD): 0-60% based on buyer profile
- Payment Timeline: Within 14 days of Option to Purchase
Legal and Administrative Costs:
- Legal Fees: $2,000-5,000 for conveyancing
- Valuation Fee: $500-1,000 for property valuation
- Survey Fee: $500-1,500 for property survey
- Fire Insurance: Mandatory for mortgaged properties
Moving and Setup Costs:
- Renovation: $30,000-100,000+ depending on scope
- Furniture and Appliances: $20,000-50,000
- Moving Costs: $500-2,000
- Utility Deposits: $200-500
Income and Debt Assessment
How banks evaluate your loan application:
- Gross Monthly Income: Before deductions, including bonuses
- Net Disposable Income: After existing loan commitments
- Employment Stability: Minimum 6 months employment
- Credit Score: Good credit history improves loan terms
- Existing Debts: Car loans, personal loans, credit cards
- Future Commitments: Planned expenses, family obligations
Property Types and Considerations
HDB Flats:
- Affordability: Generally more affordable with government subsidies
- Financing: HDB loan option with lower interest rates
- Eligibility: Income ceiling and citizenship requirements
- Resale Levy: May apply for second-time HDB buyers
Private Condominiums:
- Higher Prices: Premium for facilities and location
- Maintenance Fees: Monthly management corporation fees
- Investment Potential: Better rental yields and capital appreciation
- No Restrictions: Fewer eligibility requirements
Landed Properties:
- Premium Segment: Highest prices in Singapore market
- Land Ownership: Freehold or 999-year leasehold
- Maintenance: Higher upkeep costs and responsibilities
- Foreign Ownership: Restricted for non-citizens
Improving Your Property Affordability
Strategies to increase your buying power:
- Increase Income: Career advancement, side income, joint application
- Reduce Debt: Pay off existing loans to improve DSR
- Build CPF OA: Voluntary contributions, salary optimization
- Save More Cash: Increase down payment to reduce loan amount
- Consider Alternatives: Different locations, property types, or timing
- Longer Loan Tenure: Reduce monthly payments (but increase total interest)
Related Calculators
Explore our other Singapore property calculators:
- Singapore Mortgage Calculator - Calculate loan payments and interest
- Singapore Stamp Duty Calculator - Calculate BSD and ABSD costs
- Singapore Property Tax Calculator - Annual property tax calculations
- Singapore Rental Yield Calculator - Investment property returns
- Singapore HDB Loan Calculator - HDB financing options
Frequently Asked Questions
How much property can I afford with my income?
Generally, your total monthly debt payments (including the new mortgage) should not exceed 60% of your gross monthly income (DSR limit).
Can I use all my CPF OA for property purchase?
You can use CPF OA up to the Valuation Limit, but must maintain a minimum balance and consider future retirement needs.
What's the minimum cash required for property purchase?
Minimum 5% of property price must be paid in cash. The remaining down payment can come from CPF OA.
How do cooling measures affect my affordability?
ABSD and lower LTV ratios for second properties significantly increase the cash required and reduce affordability for investment properties.
Should I choose HDB loan or bank loan?
HDB loan offers lower interest rates (2.6%) but bank loans provide more flexibility. Compare total costs and terms.
About Property Affordability in Singapore
Singapore's property market is characterized by government cooling measures designed to ensure sustainable prices and prioritize local ownership. Understanding your true affordability helps you make informed decisions and avoid overextending financially.
Our Singapore Property Affordability Calculator considers all key factors including income, existing debts, CPF savings, and current market regulations to provide realistic affordability estimates. Whether you're a first-time buyer or looking to upgrade, this calculator helps you plan your property purchase effectively.
For personalized advice, consult with qualified mortgage specialists, property agents, or financial advisors who understand Singapore's property market and financing options.