Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/231668
Title: BUYING VERSUS RENTING A HDB FLAT IN SINGAPORE
Authors: LOW HAN LENG
Issue Date: 2006
Citation: LOW HAN LENG (2006). BUYING VERSUS RENTING A HDB FLAT IN SINGAPORE. ScholarBank@NUS Repository.
Abstract: For years, people have been borrowing heavily to get on the property ladder as soon as possible. Singaporeans are driven by the need and desire to own property and thus to even raise the question of whether to buy or to rent a home would have seemed laughable given that Singapore has one of the highest levels of home ownership in the world where living in a home is part of a Singaporean dream. Until a few years ago, the attractive capital gains to be made from owning a home has made renting seem like pouring money down the drain. It is common practice when given the choice of buying and renting, one should always buy than to rent a property. But is that still a sound practice? Is this always the case even if rents have fallen sharply? This study attempts to ascertain whether renting is truly more financially advantageous than buying a HDB flat. Other than comparing buying to renting a home, this study also analyze the factors that influenced the choice of Singaporeans on whether to buy or to rent a new or resale HDB flat. The findings will also help to unveil how they prioritize these factors in reaching a decision. The comparison reveals that buying a new HDB flat at affordable and subsidized price might still be a good option. On the other hand, HDB flats brought from the resale market might not realize capital gain in view of the real estate market becoming mature. The results of the survey carried out on 250 Singaporeans identifies affordability as the most important factor that influenced the choice on whether to buy or to rent a home. The results also shows that when asked to prioritize, Singaporeans ranked Monthly Interest Rate & Monthly Mortgage Payment as the most important factor that they would consider in reaching a decision on to buy or to rent a HDB flat.
URI: https://scholarbank.nus.edu.sg/handle/10635/231668
Appears in Collections:Bachelor's Theses

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