Affordability calculator

Ready to find your dream home? Use the 99.co Affordability Calculator to get a clear, realistic view of your budget—whether you’re buying your first HDB flat or upgrading to a private condo. Explore thousands of listings that match your affordability instantly.

Try the calculator now and take the first step towards your new home!

For more guidance, check our in-depth guides on Condo Downpayment and HDB Grants, or speak to a 99.co property expert today.Condo Downpayment and HDB Grants, or speak to a 99.co property expert today.Condo Downpayment and HDB Grants, or speak to a 99.co property expert today.

What is a Property Affordability Calculator?

A Property Affordability Calculator is a straightforward online tool designed to help homebuyers in Singapore understand how much they can realistically spend on a property. By entering your income, debts, and available savings, the calculator takes into account key regulatory limits (such as the Total Debt Servicing Ratio (TDSR) and Loan-to-Value (LTV) ratio) to assess your financial eligibility.

How does 99.co’s Affordability Calculator work?

The 99.co Affordability Calculator simplifies the often complex process of analysing your monthly income, existing debt obligations, available cash or CPF, and preferred loan tenure. Using these details, it calculates:

The maximum loan you can obtain under current MAS rules

Your estimated monthly repayments

The downpayment required upfront (including cash and CPF portions)

The calculator automatically factors in Singapore’s lending regulations, such as TDSR (which limits your total monthly debt repayments to 55% of your income) and LTV (which caps the percentage of the property price you can borrow). It also considers prevailing interest rates and your chosen loan tenure, giving you a clear picture of how changes in these variables affect your affordability over time.

Why use the 99.co Affordability Calculator?

Using the 99.co Affordability Calculator offers several key benefits:

• The calculator reflects current market conditions, interest rates, and all relevant regulatory limits, so you get a realistic sense of what you can afford.
• It helps you analyse how changing your downpayment, loan tenure or interest rate affects your monthly repayments and long-term affordability.
• You can instantly filter out properties that are outside your budget and focus only on those you can afford, making your search much more efficient.
• Once you know your affordability range, you can immediately browse listings on 99.co that match your budget, streamlining your journey to homeownership.

Key market trends influencing property prices

Over the past five years, private residential prices in Singapore have increased by 32%, with a 3.9% rise in 2024 alone. While the pace of appreciation has moderated, property prices remain resilient due to strong local demand, limited land supply, and government policies that curb speculation.

HDB resale prices jumped by 9.6% in 2024, nearly double the growth seen in 2023. This was driven by robust demand and tight supply, with more resale flats exchanging hands and a notable number of units selling for over S$1 million.

a. Interest rate 

With inflation stabilising and the US Federal Reserve signalling potential rate cuts between 2025 and 2027, Singapore’s home loan rates are expected to trend lower. Some banks are already offering fixed-rate mortgages below 2.5%, improving affordability for buyers.

In August 2024, the government reduced the maximum loan-to-value (LTV) ratio for HDB resale flat buyers from 80% to 75%, meaning buyers now need to fork out a higher downpayment. This move aims to cool the market and encourage prudent borrowing.

b. Price-to-Income Ratio and affordability concerns

Despite subsidies and grants, the price-to-income ratio for HDB flats has been trending upwards, indicating that affordability remains a concern, especially for first-time buyers and lower- to middle-income families. 

With more million-dollar HDB flats, the government has advised buyers to exercise caution, as those who buy at high prices may be more exposed if the market softens.

c. Regional and segment trends

• City-fringe condos (RCR): The Rest of Central Region (RCR) condos have outperformed other segments, with a 6.5% price increase in 2024 and nearly 40% growth over the past five years. This segment continues to attract HDB upgraders and those seeking affordability with proximity to the city.
• OCR and new launches: Outside Central Region (OCR) condos and new launches remain attractive for buyers prioritising affordability.

Important things to remember when calculating downpayment

Whether you’re buying an HDB flat or a private condo, understanding your downpayment obligations is crucial for a smooth and stress-free property purchase. Here are the key points to keep in mind for both property types:

HDB Downpayment

• HDB loan: The downpayment is 20% of the purchase price, and you can pay this entirely with your CPF Ordinary Account (OA) savings or a combination of CPF and cash.
• Bank loan: The downpayment is 25% of the purchase price, with at least 5% in cash and the remaining 20% from CPF and/or cash.
• For BTO flats, you may be eligible for the Staggered Downpayment Scheme, allowing you to split the downpayment into two instalments—helpful for young couples or first-time buyers managing cash flow.
• You can use your CPF OA savings for most, if not all, of your HDB downpayment, subject to CPF withdrawal limits.
• CPF Housing Grants for eligible buyers can offset part of your downpayment, reducing your upfront cash outlay.
• Don’t forget to budget for stamp duties, legal fees, and renovation costs on top of your downpayment.

Condo Downpayment

• For your first property, the minimum downpayment is 25% of the purchase price. At least 5% must be paid in cash; the remaining 20% can be paid using CPF OA savings and/or cash.
• If you have existing housing loans, your Loan-to-Value (LTV) limit drops, and your required downpayment increases (up to 55% downpayment for multiple loans).
• The 5% minimum cash portion is mandatory and cannot be paid with CPF. This is a key consideration for buyers with limited liquid savings.
• CPF OA funds can be used for the remainder of the downpayment, as well as for stamp duty and some legal fees.
• If your loan tenure exceeds 30 years or extends past age 65, the LTV limit is lower, which means a higher downpayment is required.
• Foreigners cannot use CPF for downpayments and must pay the full amount in cash.
• Besides the downpayment, be prepared for Buyer’s Stamp Duty (BSD), Additional Buyer’s Stamp Duty (ABSD) if applicable, property valuation fees, and legal fees