What Salary Do You Need to Afford a Condo in Singapore? 2025
Thinking of upgrading to a private condo in Singapore? One of the first questions most buyers ask is:
“What kind of salary do I need to afford one?”
With rising interest rates and tighter loan rules, your income is a key factor in determining what kind of property—and loan—you qualify for. Here's a breakdown of how condo affordability is calculated in Singapore today.
💰 How Condo Affordability is Calculated
The key rule you need to know is the Total Debt Servicing Ratio (TDSR).
Under MAS regulations, your monthly debt repayments (including your mortgage, car loan, student loan, credit card bills, etc.) cannot exceed 55% of your gross monthly income.
On top of that, banks can only loan you up to 75% of the condo’s purchase price (this is called the Loan-to-Value, or LTV, limit).
📊 Sample Calculation: $1 Million Condo
Let’s say you're eyeing a $1 million condo.
Here’s how that breaks down:
Loan Amount (75% LTV): $750,000
Loan Tenure: 25 years
Interest Rate (estimated): 3%
Monthly Repayment: ~$3,558
To stay within the 55% TDSR limit:
Required monthly income = $3,558 ÷ 0.55 ≈ $6,470
So you’d need to earn at least $6,500/month ($78,000/year) to afford this comfortably.
🧮 Condo Affordability Table
Here’s a quick breakdown across different price ranges:
Property Price 75% Loan Monthly Repayment (25 yrs @ 3%) Min. Gross Income (TDSR 55%) $800,000 $600,000 ~$2,847 ~$5,177 $1,000,000 $750,000 ~$3,558 ~$6,470 $1,200,000 $900,000 ~$4,270 ~$7,764 $1,500,000 $1,125,000 ~$5,337 ~$9,703
💡 Note: These estimates assume a 3% interest rate. Individual loan packages may vary.
🔍 Other Factors That Affect Affordability
Age – Older borrowers may be limited to shorter loan tenures.
Existing Loans – Car loans, credit cards, and study loans all reduce your available TDSR.
Loan Tenure – Shorter loans = higher monthly repayments = higher income needed.
✅ Tips to Improve Your Affordability
🧾 Clear existing debts – Especially high-interest ones like credit cards.
💑 Apply with a co-borrower – Combine incomes with your spouse or family member.
💰 Save more for the downpayment – The less you borrow, the easier it gets.
🔍 Compare bank rates – Lower interest = lower monthly repayment.
🏠 Choose a smaller unit – Consider 1–2 bedders to start with.
🔧 Not Ready Yet? Here’s Your Game Plan
If you’re not quite there yet financially, don’t worry—many clients start with a 3–5 year roadmap.
We’ll help you:
Estimate how much you can afford now vs in the future
Plan your CPF + cash savings goals
Understand which property types fit your current situation
📲 Ready to Know Your Budget?
We’ll calculate your condo affordability based on:
Your income, CPF, and cash savings
Your existing debt obligations
Current interest rates and mortgage rules
Get a free, no-obligation affordability report today.
Just drop us a message and we’ll help you make your next move with confidence.
