Yes. And ideally able to service the monthly installment should the interest rate goes up by 3%. By the way, you probably are aware that up to 15% ($225K) of 20% downpayment can be in CPF.

Don't be too sure about your assets. Your assets may crash due to the oversupply of condos. Unless the supply is reduced significantly or we increase FTs a lot so as to rent the empty condo blocks, prices will surely crash, if crash by 60%, you will be in deep trouble. Once it crash, you will also lose your job and this will make matters worse. Think carefully. We have been warned about irresponsible people who over leverage. So you are one of these stupid ones.

Property investments at right timing have made people wealthy. See this: How an Average Earner Can Become a Multi-Millionaire Property Investor - Yahoo Singapore Finance

Just be sure you have holding power

My wife and I don't earn much. We are in our forties but we only earn $100k pa in total. We can only afford to buy a 4 room HDB flat. Our flat is now worth $500k, we bought it from HDB at a very low price many years ago and the mortgage is almost paid up. We hope to retire at 65 years old. We will sell our flat and stay with one of our children. We will have about $1m in cash after we sell our flat.

Beware of property market crash.

We have oversupply of BTOs, condos.

Market will crash if we don't resolve the property glut situation.

We must bring in FTs by a million to prevent property crash now.

There are now many empty condo blocks with no tenants.

As long as world economy is not crashing, and local employment is still healthy, the local property prices will not crash. There may be a drop of 10% but will not crash.

The gahmen already slowing down new BTO release. Land sales may also be slowed.

People here still have a lot of money. Many are waiting on the side wanting to jump in to grab if property price collapse. Evidence is the many people buying M'sian, UK, Australian, NZ and other properties because of the CM and TDSR.

Those who bought have holding power as the loan interest rate is very low (some as low as 1%) and if they are working, they dont even need rental income to sustain the loan repayment.

Dont forget the gahmen can always remove the CM and TDSR - to spur the market if needed.

We definitely need FTs, but not for the purpose of soaking up the new homes, but to keep the economy going, and population young. That is fundamental. Without that, your CPF money, insurance and other investments will be worthless.

You have missed the boat, so suck it up! This guy bought the property a few years ago which was a wise move because he probably won't be able to afford it now. Please don't talk and act like you are the wiser one.

When you see so much exuberance in the property market, as seen displayed by the many forumers here, plus the incoming property glut, this is recipe for disaster. The property market is now at the turning point to crash.

If you see people over leveraging due to extreme over confidence, as displayed by a foolish forumer here, this is a good signal the market will crash.

The property supply miscalculation will surely crash the market, unless we open up the gates for more FTs to flow in.

The 8m population figure has been mentioned in mainstream news recently.

You really think our gahmen so screwed as to miscalculate the housing supply and demand by so much meh? Suspect they positioning for population growth to 6.9m first then to 8m in the longer term.

If there is any property price fall, quickly go in and grab some before it shoots up again.