Buying Property in Singapore

[Bruce]

As a PR I am eligble to buy property here in Singapore. The interest rates are great and I also think now is a good time to buy.

BUT, the banks require a substantial deposit in CASH. Any smart ways around this? eg. Are there any banks here willing to loan to a foreigner with investments back home (Oz)?

Thanks

[ML]

Do you have any money in CPF? I think they allow you to draw out of there.

[BoardManager]

The first 20% down payment must be cash. As a PR you are entitled to ONE housing loan in Sing Dollars. CPF funds may be used to bring the loan quantum down, and monthly mortgage to the Bank may be made using CPF funds, either in part or in full.

[ML]

Oh. Bruce, are you considering buying HDB or private? We looked at buying HDB when we used to have our PR but never got any further than just looking as we were transferred out. If HDB, you may want to go to an HDB office where they'll give you plenty of info. They were pretty nice if I recall but L-O-N-G queue.