{"id":30238,"date":"2023-02-15T17:06:19","date_gmt":"2023-02-15T09:06:19","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=30238"},"modified":"2026-01-13T18:38:01","modified_gmt":"2026-01-13T10:38:01","slug":"earn-how-much-to-buy-condo","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/earn-how-much-to-buy-condo\/","title":{"rendered":"Here’s how much you need to earn to afford a condo (2026)"},"content":{"rendered":"
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Are you looking to buy private property but unsure how much you can afford? Never fear, for 99.co<\/a> is here \u2014 to help you make informed property decisions and beyond!<\/p>\r\n\r\n\r\n\r\n

When buying property, it pays to be mindful when working out how much you can borrow, so you don\u2019t end up with a very expensive mistake.<\/p>\r\n

Understanding the property market dynamics<\/h2>\r\n

In the ever-evolving Singaporean property market, understanding the dynamics is crucial. Government regulations, economic trends, and even global events can influence property prices. Before diving into a condo purchase, it’s essential to stay updated with the latest market news and trends.<\/p>\r\n

Websites like 99.co offer valuable insights, market analyses, and property listings that can guide potential buyers in making informed decisions. By keeping a pulse on the market, you can better time your purchase and potentially save a significant amount.<\/p>\r\n

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Eligibility versus affordability<\/h2>\r\n

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Eligibility is not to be confused with affordability. In the property-buying context, it is important to note that one’s eligibility to take up a home loan is not the same as one’s ability to afford a property.<\/p>\r\n

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How do you afford a condo in Singapore? Some financial experts say that your monthly mortgage repayment, including principal and interest, should not exceed 30% of your gross monthly income<\/strong>.<\/p>\r\n

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This is the same as the Mortgage Servicing Ratio (MSR)<\/a> for HDB flats and new ECs. Others say that such requirements are too stringent.<\/p>\r\n

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Pick a home based on what you can afford for upfront and ongoing payments.<\/figcaption><\/figure>\r\n

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While opinions on what constitutes a golden mortgage-to-income ratio may differ, what’s important to note is that financial sustainability should always be a key focus when making big-ticket purchases like property. This is so you don’t end up starved of cash for your other goals (or having to eat instant noodles and bread every day).<\/p>\r\n

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How much do you need to earn to buy a condo?<\/h2>\r\n

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To make life easier for property seekers in Singapore, we\u2019ve crunched the numbers to provide the approximate income that you need to be earning to afford a condo. This will depend on the type of condo you’re buying and its location. For instance, new condos are generally more expensive, and those properties in the Core Central Region (CCR)<\/a> are more costly.<\/p>\r\n

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These estimates are made based on the ability to service mortgage repayments with the following assumptions in mind:<\/p>\r\n

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