Welcome to the 102th Issue of Weekly e-newsletter by www.HousingLoanSG.com This week I like to share with you "Is Singapore Property Over-priced?"

Is Singapore Property Over-priced?

According to some statistics, the average Household income in Singapore is about S$6,000. According to prudent Financial Planning guidelines, a person's monthly Housing Loan instalment should not exceed 35% of one's monthly income.

Thus, assuming a person borrow 80% Loan compared to purchase price, taking a 25 years loan, assuming average interest rates of 4%, maximum Housing Loan a person with Monthly Household income of S$6,000 should take is about S$400,000, or work out to maximum purchase price of S$500,000.

I am informed that a new (99 year leasehold) condo at Ang Mo Kio is selling at S$1,150 psf, which means that a person buying a 900 sf unit at this Ang Mo Kio condo pays about S$1,035,000 for this house. And according to prudent Financial Planning principles, this person should have Monthly Household Income of AT LEAST S$12,000.

How Poor can Become Rich?"

Financial Planning is similar to "Soccer"? Why is it so? Dennis shares how you can use "Strategies in Soccer" to reach Financial Freedom...in this 2nd Interview talking about concepts in his book on Channel 8 on 10 Jul 2009

3 Full-Day Chinese Semnar: Unleash Wealth in Your Life (点醒人生的财富)

Date: 5, 6 and 7 Sep 2009.

Venue: Furama Hotel Ballroom, 5th floor

Time: 9 am to 5 pm daily (Registration starts at 8.15 am).

Fee: Usual Price is S$698. Special Early Bird Offer S$298 if you register in July 2009 (Savings of S$400!). Price to be revised upwards in Aug 2009.

Special Free Gift: You get Dennis' book "Mastering Your Personal Finance" Retail Price of S$19.90 FREE when you get your tickets from this website.