How to Save and Invest for Your First Property Downpayment

The recent rise in the property market has added worry to those who has yet to own a home. To many people, especially the young families, will find it increasingly challenging to save enough for the downpayment of a house. If you belong to this category and wonder what can you do to put yourself closer to the reality of owning a house, there is a link which I want you to read.

http://www.propwise.sg/how-to-save-and-invest-for-your-first-property-downpayment/
courtesy of: propwise.sg

Enjoy and be enriched! Congrats to those who got their BTOs recently. :( I didn't get mine.

STOP! to Foreign Property Speculators

Members of Parliament have approved harsher penalties for foreign property speculators, but asked the government to crack down even more.

MPs noted that home ownership is a big issue for many Singaporeans, and further measures to restrict foreigners in the local market should be implemented.

This issue came up during a debate over the proposed changes involving foreign ownership of landed homes. Only citizens and permanent residents (PRs) who make significant contributions to the economy can own landed property. PRs can only own one such property and must live in it for at least three years before looking to sell it.

As for foreign developers, they can acquire land to build residential projects, but it must be completed in 5 years. To prevent hoarding, all units must be sold within two years after receiving the temporary occupancy permit.

If the conditions are not met, the government will forfeit their banker's guarantee pegged at 10 percent of the land price. However, with the new law, an extension charge will also be imposed for the extended time taken in the project’s completion period
 
--- Steven's Comments---
 
No matter how much the Government tries to slow down the property market. It will rise eventually... Furthermore, They are trying to attract foreign talents to enter Singapore! BUT trying to stop them from owning properties. We will never know whether an Individual has the tendency to speculate or not. Anyway.. all the BEST to us!

MediShield Explained and Exposed! - Part 1

Q. What is MediShield?
A. MediShield is an individual catastrophic medical insurance designed to help Singaporeans pay part of the large hospitalisation bills for treatment of serious illnesses or prolonged hospitalisations at Class B2/C wards in restructured hospitals.
Besides citizens, the scheme is also extended to Singapore Permanent Residents (SPRs) who are eligible for subsidised medical care in restructured hospitals in Singapore.

Q. What are the Benefits under MediShield?
A. MediShield covers hospitalisation expenses and certain approved outpatient treatments, such as kidney dialysis, chemotherapy and radiotherapy for cancer treatment.
Please click here for more details.

Q: I am already covered by my company's medical insurance plan. How can I benefit from MediShield?
A: MediShield provides you with financial protection even when you are not working, while your company's medical insurance plan only covers you for as long as you are with the company.

Q: Who can be covered under MediShield?
A: CPF members and their dependants who are Singaporeans or Singapore Permanent Residents can be covered under MediShield up to 85 years old.
MediShield is extended automatically to eligible Singaporeans and Singapore Permanent Residents:
(i) If their births are registered after 1 December 2007;
(ii) If they are registered at national schools as at 1 May 2008, 1 May 2009, 1 May 2010, 1 May 2011, 1 May 2012, 1 May 2013 or 1 May 2014;
(iii) When they make their first CPF contribution after turning 16 years old; or
(iv) If they get married in Singapore.


Source: CPF