Keeping to the Singapore context, there is a misconception that freehold property is always better than leasehold property. Just because the freehold property remains in your name “forever,” it doesn’t mean that you overlook leasehold property completely.
Some things you have to consider when buying property include:
- Will you be staying in this property?
- How old will you be when you make this purchase?
- What about if and when you are to sell this property in the future?
- What is the difference in the lifestyle of both property types?
Owning a leasehold property now can actually help you to be in a better position when you retire later on. In addition, if freehold property really is much better than leasehold property, everyone would be staying, or at least owning, one.
I talk about this in more detail in my video below. Hope this helps!
As I am a CEA-registered real estate salesperson, I am licensed to market and sell property in Singapore. My clients come first in all my dealings and I look forward to establishing a long-term working relationship with you. If you’re in your thirties and still don’t own a property, do reach out to me. It will be my pleasure to help you in your retirement planning with property.
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