Compare buying a condo or HDB flat with renting and investing the difference in ETFs, after stamp duties, interest, maintenance, special levies, selling costs and CPF.
The question is not whether a home is a good investment. It is whether owning this home leaves you with more than renting a similar one and investing what you would otherwise have put into it. The calculator runs both paths side by side, month by month, from the same starting money and the same monthly budget.
The year-by-year table shows what each path would be worth if you sold at the end of that year, which is where the break-even year comes from.
Buyer’s stamp duty is charged progressively, from 1% on the first $180,000 up to 6% above $3 million. Singapore Citizens pay no ABSD on a first home, but PRs pay 5% and foreigners 60%, and second homes attract 20% or more. None of it comes back when you sell.
| Price | Buyer’s stamp duty | Share of price |
|---|---|---|
| $650,000 | $14,100 | 2.2% |
| $1,200,000 | $32,600 | 2.7% |
| $2,000,000 | $69,600 | 3.5% |
A 25% down payment means a 1% move in the property price is a 4% move in your equity. That is why buying often wins over long periods when mortgage rates sit below the rental yield, and why a flat or falling market can leave a buyer behind a renter for a decade. Try the price-growth input at 0% and at 3% to see how much of the answer depends on it.
Special levies. Condo owners pay into a sinking fund for major repairs. In older developments, when the fund runs dry, the management corporation can levy owners a one-off sum. Before buying a resale condo, ask for the current sinking fund balance and when major works were last done.
Current mortgage rates. Rates reprice after the lock-in period. The default here is a typical 2-year fixed rate, and it is worth rerunning the numbers a percentage point higher. If you are comparing an HDB loan with a bank loan for a flat, use the HDB loan calculator.
CPF. CPF used for housing stops earning the 2.5% OA rate and must be refunded to your OA, with accrued interest, when you sell. It is still your money, so the calculator counts it on both sides. What changes is that a renter’s CPF keeps earning interest in the OA.
This tool provides educational estimates only, not licensed financial or property advice. It uses IRAS stamp duty rates as of October 2026 and does not check loan eligibility, HDB rules, grants or resale levies. Verify figures with IRAS, HDB and your bank, and consult a licensed adviser before making property decisions.
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It depends on four numbers: how long you will own before selling, the mortgage rate compared with the rental yield, how fast prices grow, and what your down payment would earn invested instead. Stamp duty, legal fees and agent commission make buying expensive to get in and out of, so short holding periods usually favour renting. Over longer periods, cheap borrowing and leverage often favour buying. The calculator shows the year buying pulls ahead on your own numbers.
Both paths start with the same money and spend the same each month. The renter invests the cash the buyer would have spent on the down payment, stamp duty and legal fees. Whichever path has the lower monthly cost invests the difference in ETFs. CPF used for housing is refunded to your OA when you sell, so it counts as yours either way. If you rent, it stays in your OA earning 2.5%.
Condo owners pay into a sinking fund for major repairs. When the fund runs short, often in older developments, the management corporation can charge owners a one-off special levy that can run into tens of thousands of dollars. Before buying a resale condo, ask for the current sinking fund balance and when major works were last done. Enter any expected levy to see its effect.
Yes. For homes bought on or after 4 July 2025, selling within four years incurs SSD of 16%, 12%, 8% or 4% of the sale price, depending on how long you held it. The calculator applies it automatically when your holding period is four years or less.
Fills in typical price, rent and running costs. Adjust to your own.
25% minimum on a first bank loan
Default is a typical 2-year fixed rate as of Sep 2026. Rates float after the lock-in
Owner-occupier rates. Much higher if you rent the unit out
Older condos can levy owners when the sinking fund runs short. Ask for the sinking fund balance before buying
Agent commission and legal fees when you sell
Gross rental yield: 3.5%
After fund fees, e.g. a global index ETF
CPF you use for housing is refunded to your OA when you sell. If you rent, it stays in your OA earning 2.5%.
$192,492
after 10 years, counting sale costs. Buying pulls ahead from year 5.
$849,075
Home worth $1,462,793, less the loan and selling costs, plus anything invested
$656,583
The upfront cash and any monthly saving invested at 6%, plus CPF kept in your OA
Upfront cash + CPF
$335,600
Buyer’s stamp duty
$32,600
ABSD
$0
Monthly instalment
$3,685
Interest over 10 years
$127,210
Maintenance, tax, levies
$54,000
Selling costs
$29,256
Rent paid instead
$459,888
Net worth from this decision only, after sale costs and any SSD
| Year | Home value | Buy | Rent + invest | Buy − rent |
|---|---|---|---|---|
| 1 | $1,224,000 | $132,822 | $363,559 | -$230,737 |
| 2 | $1,248,480 | $232,476 | $392,332 | -$159,856 |
| 3 | $1,273,450 | $335,036 | $421,951 | -$86,915 |
| 4 | $1,298,919 | $440,580 | $452,450 | -$11,870 |
| 5 | $1,324,897 | $549,187 | $483,864 | $65,323 |
| 6 | $1,351,395 | $606,880 | $516,228 | $90,652 |
| 7 | $1,378,423 | $665,636 | $549,581 | $116,055 |
| 8 | $1,405,991 | $725,475 | $583,964 | $141,511 |
| 9 | $1,434,111 | $786,416 | $619,418 | $166,998 |
| 10 | $1,462,793 | $849,075 | $656,583 | $192,492 |