What Should Property Investors Do With Their Money in 2026?
In 2013 a guest writer said to hold cash. Prices have since risen 42%. Here is how to decide where spare money goes in 2026: loan, CPF, savings or property.
In April 2013 a guest writer told readers to leave their money in the bank and wait for prices to fall. Prices did fall, by about 12% over four years. Then they rose again, and by mid-2026 they were about 42% above the 2013 peak. So the useful question is not “buy or wait?” It is “what is each dollar of spare money worth in each of its uses?” This guide gives you a way to answer that. It is not personal advice.
At a glance
- Cash is not a plan. Waiting for a crash cost 2013 savers a large rise. A crash can still come, and cash is what lets you survive one.
- Count your safe returns first. CPF Ordinary Account money earns 2.5% a year, and your mortgage costs about 1.5–2.2%. Any property must beat those by enough to pay for its risk.
- For a second home, the hurdle is high. A citizen pays 20% ABSD, and a net rental yield is only about 2–2.5%.
- Rates have turned. Banks raised mortgage rates after the US Fed hike on 16 September 2026. Test every plan at 4%.
What the 2013 article said, and what happened
The 2013 guest post argued that the market was at a record peak. It said prices were supported by “hot money”, that most homes gave a negative yield, and that investors should keep cash and wait. One line still holds: protecting your capital matters as much as earning a return on it.
The prediction itself was only half right. The URA all-residential price index peaked at 154.6 in Q3 2013 and fell to 136.6 by Q2 2017, a fall of 11.6%. It did not regain its 2013 level until Q4 2020. It then climbed to 219.4 in Q2 2026. That is 42% above the 2013 peak, or about 2.8% a year over 12¾ years, before rent and costs. A saver who sat out all that time stayed safe, but gave up a real gain. A buyer at the 2013 peak had to wait seven years for the index to catch up. Both outcomes were possible, and neither could be known in advance.
- Policy measures (select one for details)
Latest: Private 219.4 (Q2 2026).
The index is a market average, not the price of any single home. Marked policy measures are shown for context only.
Table view
| Period | Private homes (URA price index) |
|---|---|
| Q2 2026 | 219.4 |
| Q1 2026 | 218.3 |
| Q4 2025 | 216.4 |
| Q3 2025 | 215.1 |
| Q2 2025 | 213.2 |
| Q1 2025 | 211.1 |
| Q4 2024 | 209.4 |
| Q3 2024 | 204.7 |
| Q2 2024 | 206.1 |
| Q1 2024 | 204.3 |
| Q4 2023 | 201.5 |
| Q3 2023 | 196.0 |
| Q2 2023 | 194.4 |
| Q1 2023 | 194.8 |
| Q4 2022 | 188.6 |
| Q3 2022 | 187.8 |
| Q2 2022 | 180.9 |
| Q1 2022 | 174.8 |
| Q4 2021 | 173.6 |
| Q3 2021 | 165.3 |
| Q2 2021 | 163.5 |
| Q1 2021 | 162.2 |
| Q4 2020 | 157.0 |
| Q3 2020 | 153.8 |
| Q2 2020 | 152.6 |
| Q1 2020 | 152.1 |
| Q4 2019 | 153.6 |
| Q3 2019 | 152.8 |
| Q2 2019 | 150.8 |
| Q1 2019 | 148.6 |
| Q4 2018 | 149.6 |
| Q3 2018 | 149.7 |
| Q2 2018 | 149.0 |
| Q1 2018 | 144.1 |
| Q4 2017 | 138.7 |
| Q3 2017 | 137.6 |
| Q2 2017 | 136.6 |
| Q1 2017 | 136.7 |
| Q4 2016 | 137.2 |
| Q3 2016 | 137.9 |
| Q2 2016 | 140.0 |
| Q1 2016 | 140.6 |
| Q4 2015 | 141.6 |
| Q3 2015 | 142.3 |
| Q2 2015 | 144.2 |
| Q1 2015 | 145.5 |
| Q4 2014 | 147.0 |
| Q3 2014 | 148.6 |
| Q2 2014 | 149.7 |
| Q1 2014 | 151.3 |
| Q4 2013 | 153.2 |
| Q3 2013 | 154.6 |
| Q2 2013 | 154.0 |
| Q1 2013 | 152.4 |
| Q4 2012 | 151.5 |
| Q3 2012 | 148.8 |
| Q2 2012 | 147.9 |
| Q1 2012 | 147.2 |
| Q4 2011 | 147.4 |
| Q3 2011 | 147.0 |
| Q2 2011 | 145.1 |
| Q1 2011 | 142.3 |
| Q4 2010 | 139.2 |
| Q3 2010 | 135.5 |
| Q2 2010 | 131.7 |
| Q1 2010 | 125.1 |
| Q4 2009 | 118.4 |
| Q3 2009 | 110.3 |
| Q2 2009 | 95.3 |
| Q1 2009 | 100.0 |
| Q4 2008 | 116.4 |
| Q3 2008 | 123.9 |
| Q2 2008 | 126.9 |
| Q1 2008 | 126.7 |
| Q4 2007 | 122.1 |
| Q3 2007 | 114.4 |
| Q2 2007 | 105.6 |
| Q1 2007 | 97.6 |
| Q4 2006 | 93.1 |
| Q3 2006 | 89.6 |
| Q2 2006 | 87.3 |
| Q1 2006 | 85.8 |
| Q4 2005 | 84.5 |
| Q3 2005 | 83.3 |
| Q2 2005 | 82.3 |
| Q1 2005 | 81.9 |
| Q4 2004 | 81.3 |
| Q3 2004 | 80.7 |
| Q2 2004 | 80.4 |
| Q1 2004 | 80.3 |
| Q4 2003 | 80.6 |
| Q3 2003 | 80.7 |
| Q2 2003 | 81.1 |
| Q1 2003 | 81.6 |
| Q4 2002 | 82.3 |
| Q3 2002 | 82.6 |
| Q2 2002 | 82.2 |
| Q1 2002 | 82.8 |
| Q4 2001 | 83.8 |
| Q3 2001 | 87.6 |
| Q2 2001 | 90.3 |
| Q1 2001 | 91.1 |
| Q4 2000 | 94.9 |
| Q3 2000 | 97.6 |
| Q2 2000 | 100.4 |
| Q1 2000 | 98.9 |
| Q4 1999 | 95.9 |
| Q3 1999 | 91.1 |
| Q2 1999 | 84.3 |
| Q1 1999 | 75.4 |
| Q4 1998 | 71.5 |
| Q3 1998 | 78.3 |
| Q2 1998 | 90.1 |
| Q1 1998 | 98.3 |
| Q4 1997 | 108.4 |
| Q3 1997 | 113.0 |
| Q2 1997 | 118.2 |
| Q1 1997 | 119.2 |
| Q4 1996 | 123.7 |
| Q3 1996 | 127.2 |
| Q2 1996 | 129.7 |
| Q1 1996 | 122.3 |
| Q4 1995 | 117.9 |
| Q3 1995 | 112.7 |
| Q2 1995 | 111.1 |
| Q1 1995 | 109.8 |
| Q4 1994 | 106.9 |
| Q3 1994 | 104.5 |
| Q2 1994 | 93.6 |
| Q1 1994 | 82.1 |
| Q4 1993 | 75.1 |
| Q3 1993 | 71.1 |
| Q2 1993 | 64.9 |
| Q1 1993 | 58.3 |
| Q4 1992 | 55.3 |
| Q3 1992 | 53.8 |
| Q2 1992 | 51.8 |
| Q1 1992 | 49.9 |
| Q4 1991 | 47.6 |
| Q3 1991 | 46.8 |
| Q2 1991 | 45.6 |
| Q1 1991 | 42.1 |
| Q4 1990 | 40.3 |
| Q3 1990 | 42.0 |
| Q2 1990 | 41.8 |
| Q1 1990 | 40.9 |
Policy measures marked on this chart (26)
- 2025-07-03 Seller's Stamp Duty holding period back to four years, rates raised by 4 pp
- 2024-08-19 HDB loan LTV cut to 75% and Enhanced CPF Housing Grant raised
- 2023-04-26 ABSD rates raised, April 2023
- 2023-02-14 CPF Housing Grant raised for first-time resale buyers, Budget 2023
- 2023-02-14 Buyer's Stamp Duty raised for higher-value properties, Budget 2023
- 2022-09-29 Property measures, September 2022: higher TDSR and MSR rate floor, HDB loan LTV 80%, 15-month wait-out
- 2021-12-15 Property cooling measures, December 2021: higher ABSD, TDSR 55%, HDB loan LTV 85%
- 2018-07-05 Property cooling measures, July 2018: higher ABSD and lower LTV limits
- 2018-02-19 Budget 2018: Proximity Housing Grant enhanced
- 2018-02-19 Budget 2018: top BSD rate raised to 4% above S$1m
- 2017-03-10 SSD holding period cut to 3 years; TDSR relaxed for equity withdrawal
- 2013-08-27 HDB loan and resale measures, August 2013
- 2013-06-28 MAS introduces the Total Debt Servicing Ratio (TDSR) framework
- 2013-01-11 Property cooling measures, January 2013
- 2012-10-05 Maximum loan tenure of 35 years and tighter LTV limits, October 2012
- 2011-12-07 Additional Buyer's Stamp Duty introduced, December 2011
- 2011-01-13 Property cooling measures, January 2011
- 2010-08-30 HDB measures after National Day Rally 2010: DBSS income ceiling, 5-year MOP for non-subsidised flats
- 2010-08-30 Property cooling measures, August 2010
- 2010-02-19 Seller's Stamp Duty introduced and LTV limit cut to 80%, February 2010
- 2009-09-14 Interest-only loans and Interest Absorption Scheme disallowed, September 2009
- 2005-07-19 Property policy review, July 2005: LTV limit raised to 90%, CPF housing rules eased, foreign ownership rules eased
- 2001-10-12 Second off-budget package, October 2001: property tax rebate, stamp duty cut, gains tax removed, land sales eased
- 1998-06-29 Off-budget property measures, June 1998: land sales suspended, stamp duty deferred
- 1997-11-18 Property relief, November 1997: seller's stamp duty suspended, land sales deferred
- 1996-05-14 Anti-speculation measures, May 1996: seller's stamp duty, tax on short-term gains, 80% loan limit
Source: URA (via SingStat). Data to Q2 2026. Licences and notices
Where the market stands in October 2026
| Measure | Latest reading | Source |
|---|---|---|
| Private home prices, Q3 2026 (flash estimate) | +1.4% q/q (OCR +2.2%, RCR +0.2%, CCR -0.1%) | URA, 1 Oct 2026 |
| HDB resale prices, Q3 2026 flash | −0.2% q/q, the third dip in a row | HDB, 30 Sep 2026 |
| Private rents, Q2 2026 | +0.7% q/q; vacancy 6.4% | URA, 24 Jul 2026 |
| Land sales for 2026 | 9,320 units on the Confirmed List, over 50% above the 10-year average | URA |
| Mortgage rates | About 1.5–1.8% floating, 2.0–2.2% fixed | Business Times, 2 Oct 2026 |
The picture is mixed. Private prices are at a record, led by suburban and landed homes. HDB resale prices have slipped. Rents are growing more slowly than prices, and a lot of new supply is on the way. That does not tell you what prices will do next. It does tell you that you are not being paid much income to wait.
- Prices (URA price index)
- Rents (URA rental index)
Latest: Prices 219.4 (Q2 2026); Rents 162.5 (Q2 2026).
Table view
| Period | Prices (URA price index) | Rents (URA rental index) |
|---|---|---|
| Q2 2026 | 219.4 | 162.5 |
| Q1 2026 | 218.3 | 161.4 |
| Q4 2025 | 216.4 | 160.9 |
| Q3 2025 | 215.1 | 161.7 |
| Q2 2025 | 213.2 | 159.8 |
| Q1 2025 | 211.1 | 158.5 |
| Q4 2024 | 209.4 | 157.9 |
| Q3 2024 | 204.7 | 157.9 |
| Q2 2024 | 206.1 | 156.6 |
| Q1 2024 | 204.3 | 157.9 |
| Q4 2023 | 201.5 | 161.0 |
| Q3 2023 | 196.0 | 164.5 |
| Q2 2023 | 194.4 | 163.2 |
| Q1 2023 | 194.8 | 158.8 |
| Q4 2022 | 188.6 | 148.1 |
| Q3 2022 | 187.8 | 137.9 |
| Q2 2022 | 180.9 | 127.0 |
| Q1 2022 | 174.8 | 119.0 |
| Q4 2021 | 173.6 | 114.2 |
| Q3 2021 | 165.3 | 111.3 |
| Q2 2021 | 163.5 | 109.3 |
| Q1 2021 | 162.2 | 106.2 |
| Q4 2020 | 157.0 | 103.9 |
| Q3 2020 | 153.8 | 103.8 |
| Q2 2020 | 152.6 | 104.3 |
| Q1 2020 | 152.1 | 105.6 |
| Q4 2019 | 153.6 | 104.5 |
| Q3 2019 | 152.8 | 105.6 |
| Q2 2019 | 150.8 | 105.5 |
| Q1 2019 | 148.6 | 104.1 |
| Q4 2018 | 149.6 | 103.1 |
| Q3 2018 | 149.7 | 104.1 |
| Q2 2018 | 149.0 | 103.8 |
| Q1 2018 | 144.1 | 102.8 |
| Q4 2017 | 138.7 | 102.5 |
| Q3 2017 | 137.6 | 103.4 |
| Q2 2017 | 136.6 | 103.4 |
| Q1 2017 | 136.7 | 103.6 |
| Q4 2016 | 137.2 | 104.5 |
| Q3 2016 | 137.9 | 105.6 |
| Q2 2016 | 140.0 | 106.9 |
| Q1 2016 | 140.6 | 107.5 |
| Q4 2015 | 141.6 | 108.9 |
| Q3 2015 | 142.3 | 110.3 |
| Q2 2015 | 144.2 | 111.0 |
| Q1 2015 | 145.5 | 112.2 |
| Q4 2014 | 147.0 | 114.1 |
| Q3 2014 | 148.6 | 115.2 |
| Q2 2014 | 149.7 | 116.1 |
| Q1 2014 | 151.3 | 116.8 |
| Q4 2013 | 153.2 | 117.6 |
| Q3 2013 | 154.6 | 118.2 |
| Q2 2013 | 154.0 | 117.9 |
| Q1 2013 | 152.4 | 117.6 |
| Q4 2012 | 151.5 | 116.6 |
| Q3 2012 | 148.8 | 115.9 |
| Q2 2012 | 147.9 | 114.8 |
| Q1 2012 | 147.2 | 114.5 |
| Q4 2011 | 147.4 | 114.2 |
| Q3 2011 | 147.0 | 113.7 |
| Q2 2011 | 145.1 | 112.8 |
| Q1 2011 | 142.3 | 111.4 |
| Q4 2010 | 139.2 | 110.0 |
| Q3 2010 | 135.5 | 107.2 |
| Q2 2010 | 131.7 | 103.5 |
| Q1 2010 | 125.1 | 97.7 |
| Q4 2009 | 118.4 | 93.3 |
| Q3 2009 | 110.3 | 92.8 |
| Q2 2009 | 95.3 | 94.8 |
| Q1 2009 | 100.0 | 100.0 |
| Q4 2008 | 116.4 | 109.3 |
| Q3 2008 | 123.9 | 115.5 |
| Q2 2008 | 126.9 | 116.5 |
| Q1 2008 | 126.7 | 113.6 |
| Q4 2007 | 122.1 | 107.2 |
| Q3 2007 | 114.4 | 100.4 |
| Q2 2007 | 105.6 | 90.1 |
| Q1 2007 | 97.6 | 81.6 |
| Q4 2006 | 93.1 | 75.9 |
| Q3 2006 | 89.6 | 72.1 |
| Q2 2006 | 87.3 | 68.7 |
| Q1 2006 | 85.8 | 67.2 |
| Q4 2005 | 84.5 | 66.5 |
| Q3 2005 | 83.3 | 66.1 |
| Q2 2005 | 82.3 | 65.6 |
| Q1 2005 | 81.9 | 65.2 |
| Q4 2004 | 81.3 | 64.6 |
| Q3 2004 | 80.7 | 64.2 |
| Q2 2004 | 80.4 | 64.0 |
| Q1 2004 | 80.3 | 64.0 |
Source: URA (via SingStat). Data to Q2 2026. Licences and notices
Test 1: Can you survive a bad year?
Before any investment, size your safety net. Banks test your loan at 4%, not at today’s 1.4–1.8%. So test yourself at 4% too. Say you owe S$800,000 over 25 years. At 1.8% the instalment is about S$3,313 a month. At 4% it is about S$4,223. If you cannot find the extra S$910 a month and still save, you are borrowing too much. Cash should come before new property.
- 3-month compounded SORA (Singapore)
- US federal funds rate (effective)
Latest: SORA 1.23% (1 Oct 2026); Fed 3.88% (1 Oct 2026).
SORA is the benchmark for floating-rate home loans in Singapore. The US rate is shown for context: it moves SORA only indirectly, through the Singapore dollar and bank funding costs.
Table view
| Period | 3-month compounded SORA (Singapore) | US federal funds rate (effective) |
|---|---|---|
| Oct 2026 | 1.23% | 3.88% |
| Sep 2026 | 1.23% | 3.88% |
| Aug 2026 | 1.18% | 3.63% |
| Jul 2026 | 1.14% | 3.63% |
| Jun 2026 | 1.08% | 3.63% |
| May 2026 | 1.06% | 3.62% |
| Apr 2026 | 1.03% | 3.64% |
| Mar 2026 | 1.07% | 3.64% |
| Feb 2026 | 1.12% | 3.64% |
| Jan 2026 | 1.15% | 3.64% |
| Dec 2025 | 1.19% | 3.64% |
| Nov 2025 | 1.25% | 3.89% |
| Oct 2025 | 1.32% | 4.11% |
| Sep 2025 | 1.46% | 4.09% |
| Aug 2025 | 1.56% | 4.33% |
| Jul 2025 | 1.86% | 4.33% |
| Jun 2025 | 2.06% | 4.33% |
| May 2025 | 2.27% | 4.33% |
| Apr 2025 | 2.40% | 4.33% |
| Mar 2025 | 2.55% | 4.33% |
| Feb 2025 | 2.73% | 4.33% |
| Jan 2025 | 2.90% | 4.33% |
| Dec 2024 | 3.08% | 4.33% |
| Nov 2024 | 3.21% | 4.58% |
| Oct 2024 | 3.39% | 4.83% |
| Sep 2024 | 3.49% | 4.83% |
| Aug 2024 | 3.57% | 5.33% |
| Jul 2024 | 3.64% | 5.33% |
| Jun 2024 | 3.63% | 5.33% |
| May 2024 | 3.66% | 5.33% |
| Apr 2024 | 3.65% | 5.33% |
| Mar 2024 | 3.68% | 5.33% |
| Feb 2024 | 3.64% | 5.33% |
| Jan 2024 | 3.66% | 5.33% |
| Dec 2023 | 3.70% | 5.33% |
| Nov 2023 | 3.75% | 5.33% |
| Oct 2023 | 3.75% | 5.33% |
| Sep 2023 | 3.70% | 5.33% |
| Aug 2023 | 3.70% | 5.33% |
| Jul 2023 | 3.68% | 5.33% |
| Jun 2023 | 3.65% | 5.07% |
| May 2023 | 3.61% | 5.08% |
| Apr 2023 | 3.61% | 4.83% |
| Mar 2023 | 3.58% | 4.83% |
| Feb 2023 | 3.23% | 4.58% |
| Jan 2023 | 3.12% | 4.33% |
| Dec 2022 | 3.03% | 4.33% |
| Nov 2022 | 2.87% | 3.83% |
| Oct 2022 | 2.45% | 3.08% |
| Sep 2022 | 2.07% | 3.08% |
| Aug 2022 | 1.55% | 2.33% |
| Jul 2022 | 1.27% | 2.32% |
| Jun 2022 | 0.72% | 1.58% |
| May 2022 | 0.52% | 0.83% |
| Apr 2022 | 0.32% | 0.33% |
| Mar 2022 | 0.27% | 0.33% |
| Feb 2022 | 0.25% | 0.08% |
| Jan 2022 | 0.20% | 0.08% |
| Dec 2021 | 0.19% | 0.08% |
| Nov 2021 | 0.16% | 0.08% |
| Oct 2021 | 0.16% | 0.07% |
| Sep 2021 | 0.13% | 0.08% |
| Aug 2021 | 0.13% | 0.08% |
| Jul 2021 | 0.13% | 0.10% |
| Jun 2021 | 0.14% | 0.10% |
| May 2021 | 0.17% | 0.05% |
| Apr 2021 | 0.19% | 0.07% |
| Mar 2021 | 0.23% | 0.07% |
| Feb 2021 | 0.20% | 0.07% |
| Jan 2021 | 0.17% | 0.07% |
| Dec 2020 | 0.17% | 0.09% |
| Nov 2020 | 0.12% | 0.08% |
| Oct 2020 | 0.12% | 0.09% |
| Sep 2020 | 0.10% | 0.09% |
| Aug 2020 | 0.10% | 0.09% |
| Jul 2020 | 0.08% | 0.09% |
| Jun 2020 | 0.14% | 0.08% |
| May 2020 | 0.27% | 0.05% |
| Apr 2020 | 0.53% | 0.05% |
| Mar 2020 | 0.90% | 0.10% |
| Feb 2020 | 1.14% | 1.58% |
| Jan 2020 | 1.20% | 1.55% |
| Dec 2019 | 1.27% | 1.55% |
| Nov 2019 | 1.31% | 1.55% |
| Oct 2019 | 1.46% | 1.83% |
| Sep 2019 | 1.53% | 1.83% |
| Aug 2019 | 1.59% | 2.12% |
| Jul 2019 | 1.67% | 2.40% |
| Jun 2019 | 1.72% | 2.40% |
| May 2019 | 1.68% | 2.38% |
| Apr 2019 | 1.62% | 2.44% |
| Mar 2019 | 1.54% | 2.43% |
| Feb 2019 | 1.59% | 2.40% |
| Jan 2019 | 1.52% | 2.40% |
Source: MAS, FRED. Data to 1 Oct 2026. Licences and notices
A common rule is to hold several months of instalments and living costs in cash. Your own number depends on how stable your income is.
Test 2: What does each dollar earn elsewhere?
Take S$100,000 of spare cash. Here is what it does in each of three safe uses. The figures are examples.
| Use | Yearly effect on S$100,000 | Notes |
|---|---|---|
| Repay a floating mortgage at 1.8% | Saves S$1,800 | Rises to S$4,000 if your rate returns to 4%. Check lock-in penalties and notice periods first. |
| Leave it in CPF OA | Earns S$2,500 | 2.5% a year, reviewed quarterly, with a legislated floor of 2.5% |
| Keep it as cash | Earns your bank rate | Easy to reach, but you must check the rate you actually get |
The numbers show a point many investors miss. When your loan costs 1.8% and your CPF OA earns 2.5%, repaying the loan with OA money is not an obvious gain. Money that leaves the OA has to be refunded with accrued interest when you sell. Our guide to using CPF for property covers this.
Singapore Savings Bonds are another government-backed option. MAS says you can start with S$500 and redeem in any month with no penalty. The November 2026 issue averages 2.45% a year over 10 years, and the six-month Treasury bill auctioned on 24 September 2026 cut off at 1.92%. Rates change each month, so check the latest issue before you compare.
Test 3: Does a property clear that bar?
A rental property has to beat the safe returns above, and it carries more risk. In 2026 the costs are heavy:
- Entry costs. A citizen pays 20% ABSD on a second home and 30% on a third, on top of Buyer’s Stamp Duty. The bank loan falls to 45% of the price for a second housing loan.
- Exit costs. If you sell a home bought from 4 July 2025 within four years, Seller’s Stamp Duty is 16%, 12%, 8% or 4% of the price.
- Thin income. Our rental yield guide shows an average gross yield of about 3.1% and a net yield of about 2.0–2.5% after property tax, fees and vacancy.
A worked example makes the point. Say a citizen who already owns a home buys a S$1.2m condo to let out. Our stocks versus property guide works through this case. The cash needed is about S$932,600 before legal fees, and the first-year net income is about S$19,600. That is about 2.1% on the cash, which is below the 2.5% that CPF OA money earns with no risk at all. The rest of the return has to come from price growth. From 2013 to 2026, the whole market grew about 2.8% a year.
This does not mean property is a poor choice. It means the case for a second property rests on price growth, a long holding period, and the ability to carry the loan if the rent stops. It does not rest on yield.
Test 4: Decide your triggers before the market moves
The 2013 writer could not say when prices would fall, and nobody can say it now. What you can do is write down your rules in advance:
- Set a loan limit. For example, “my instalment at 4% must stay under a set share of my income”.
- Set a holding period. SSD already punishes a sale within four years.
- Name what would change your mind. It might be rising vacancy, falling rents, or a rate above your limit.
- Keep a cash reserve so you are never forced to sell at a bad time. Our guide on how to prepare for a market crash goes into more detail.
To see how your own loan behaves at different rates, use the mortgage calculator.
Bottom line
Holding cash is neither safe nor foolish. It is a choice with a cost. The 2013 advice avoided a fall of 12% but missed a rise of 42%. In 2026, spare money faces three tests. It must protect you in a bad year. It must beat what CPF and your loan rate offer. And a property must pay you for its risk. Run those tests with your own numbers before you decide. Nothing here is personal financial advice.
