Is Buying a House or a Condo Unit An Investment?

Posted by under Investing, Personal Finance . Updated: July 14, 2017

If you walk around malls and business centers these days, it’s typical that you’ll meet a real estate agent handing out flyers for townhouses, property lots and condominium units.

Their primary sales pitch?

Buy their real estate product as an investment:

Bili na po kayo ng condo unit sa amin, magandang investment po ito.

Even their brochures, billboards, newspaper ads, posters and almost all of their sales and marketing materials say it:

Invest now for as low as P8,000 a month.

Sadly, many people believe them… especially OFWs and their families – who would now spend so much money paying for something that will never ever become an investment for them.

So if you or someone you know, is planning to buy a house and lot or a condo unit very soon “as an investment”, then I hope you or that someone you know, can read this post first.

condo-investment

What Is An Investment?

Simply, an investment is something that makes you money. Alternatively, if something’s costing you money, then it is a liability. And lastly, if it’s neither giving nor taking cash from you, then it’s simply an idle asset:

  • Investment: gives you money
  • Liability: takes money from you
  • Idle Asset: just sits around doing nothing

Please note that these are not exactly your textbook definitions. But they’re close enough for you to fully appreciate the rest of this article.

A house or a condo unit IS NOT AN INVESTMENT if:

  • You or your family will be living there; or
  • You have NO PLANS of selling or having it rented out.
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But it is an investment, because the value of the real estate will eventually increase. Thus, it is really making me money…

That thinking is mostly wrong because:

  1. As defined, if it’s not making you money that you can physically hold – then it’s not an investment; it’s probably just an idle asset, or worse, a liability.
  2. And even if it does appreciate in value someday, if you are NOT willing to sell it, then again – it is not an investment because there’s no physical cash going into your pockets.

Now, before all the real estate agents bash this post in the comments section. Let me offer you the other side of the coin.

A House or a Condo Unit IS AN INVESTMENT if:

  • Your MAIN PLAN is to sell or have it rented out once it’s ready.
  • You plan to leverage it as an asset to get portfolio income.

Caveat emptor… let the buyer beware:

Selling real estate

  • If you buy a property at market value, then you would have to wait several years before you can sell it for profit (and that’s assuming its value will increase more than the rate of inflation). Can you afford to have your money frozen that long?
  • If you buy a property at “cheaper” pre-selling prices, then you would have to again, wait for the unit to be turned over to you, before you can sell it. What if the developer doesn’t finish on time? Can you afford the risk?

Renting out real estate

  • Is your property located in an area where there will be renters?
  • Will your rental fee be more than the monthly mortgage you’re paying? If not, then it’s theoretically not making you money and it will become an investment ONLY after it does.
  • Are you knowledgeable with property management and maintenance? For example, do you know how you can legally evict non-payers and trouble-makers?

Leveraging on equity

  • Earning portfolio income is often practiced by savvy investors. If your only paper asset is your time deposit account, then you’re not at this level yet.
  • Leveraging on real estate equity typically involves buying another property. So if buying this house or condo unit is just a “one-time real estate thing” for you. Then you might want to reconsider your plans.

As you can see, buying a house and lot or a condo unit as an investment is not as straightforward as it seems to be.

Often times, we get blinded by our aspirations of becoming a home owner or living a condo lifestyle that we fall into the trap of buying real estate property under false pretenses that it is an investment.

So always have your objectives clear.

Want to learn more? Then check out and read: A Primer on Real Estate Investing

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49 Responses to “Is Buying a House or a Condo Unit An Investment?”


  1. Tony says:

    I totally agree with you. What most people don’t realize is that their house (if they only own 1) is not an investment. They can sell at the top of the market for top dollar, but since they don’t have another house, they have to buy another house for top dollar.

  2. Jay says:

    I agree with this article. OFW’s who have been scammed – UNITE! There should be a law or regulation that would prohibit such practices. Then again, a futile attempt to correct many millions of “beep” in Philippine society.

  3. krissy says:

    very timely post.. thanks sir fitz!

  4. Lyn-Lyn says:

    Buying condominiums has been the “trend” in the Philippines recently – but it is the lack of proper education on real estate investing that entice Filipinos, especially OFWs, to be trapped on this investment. Kudos to you, Kuya Fitz, for making this entry and I hope that many Filipinos would read and be enlightened through your post.

    On the other side of the coin, if you are renting a house/apartment/condominium for Php8000 per month, why not buy your own, let it funded by Pag-ibig and pay the amortisation of Php8000. This is *not* an investment – but then, why rent when you can own it, dbah? 🙂

  5. Maxwell says:

    Ouch! This article is so harsh. Hehehe.

    Fitz, I know you are just clarifying what constitutes investing and you are not bashing condo investing per se but I am sure a lot will walk away thinking condo investing is bad. I would just like to share why I think condo investing can be a good thing (even if that is not the point of your article).

    I imagine a condo or property investment is still ok if you can get tenants and if it will periodically appreciate in value. My point is, if you can get a quality property and a good location, why wouldn’t you be able to find lessees right? And why wouldnt the property periodically appreciate in time? So to me, condo investing shouldn’t be that scary and might even be a good idea. I was told (by a real estate agent hahaha that Serendra originally cost 70k only, well now it is around 120k or even 150k.

    Moreover, if you pay amortizations, then you are also practising a form of forced savings. We all know the importance of saving or paying yourself first but how many of us actually strictly enforce it continuously for many years? With a property investment you will surely pay yourself or your property first for the duration of the loan.

    In addition, isn’t leasing business one of the best ways of earning passive income?

    My only issue w condo investing is — should you buy pre selling? or look for old but quality condo units that you can rent out, because w preselling, many years are being wasted with your money idle the whole time.

    Thanks!

  6. Fitz says:

    @Lyn-Lyn
    That’s actually a big debate in the personal finance world – if it’s better to pay rent or buy a home. Perhaps I’ll write about that soon here.

    In any case, personally, I lean towards the “renting” side because given that the expense will be the same, then I’d rather choose to have location freedom.

    Over the past ten years, I’ve lived on rented apartments in Quezon City, Makati, Las Pinas and currently, in Paranaque. And last year, I’ve had the idea of moving to Iloilo or Davao – which I might follow through soon.

    Moving around that much has helped me gain a lot of friends… and more importantly, “minimize” my lifestyle – which complements my frugality.

    Indeed, I love the “location freedom” that I have that’s why I’ve chosen not to buy a home property for myself. And maybe people who are renters feel the same way too.

    But still, who knows, I might just decide to settle in one location, buy a lot and build my dream house there – I guess we’ll never know until we get there. 😀

    @Maxwell
    Thank you for sharing your thoughts.

    I agree that condo investing can be a good thing, but only if you really know what you’re getting into (ie, fully understanding the caveat emptor items I mentioned).

    The problem I often see is that many people think that simply buying a condo unit (or any real estate property) is already an investment. They fail at converting that into an income generating asset (so as to be properly called an investment).

    And while real estate do appreciate in value over time – again, if you’re not willing to sell it, then it’s not an investment.

    A friend of mine bought a condo and he’s been living there for almost five years now. I asked him earlier if he’d be willing to sell his unit if someone offered to pay at market value (which is now about 30% more than his purchase price).

    He said “NO”, because the unit has already become his home.

    Many people buy real estate property and say that they’ll “sell it later”… but often times, over the years, they “fall in love” with the property and never sell eventually – thus making it a “failed investment” by theory.

    Moreover, I don’t think paying amortizations is a form of forced savings, because there are risks involved – the property can depreciate in value and your money is not very liquid – instead, I can see it as a “regular investment plan”.

    And if you’re buying a condo unit under the assumption that it is forced savings – then perhaps it would just be better to instead invest in a mutual fund that has real estate assets in its portfolio.

    Because this way, if you decide to take a vacation and use your supposed investment money for the month – then it’s okay because there’s no risk of defaulting (and incurring penalties or interest fees).

    Plus, if you suddenly need money, then it would just take less than a week to redeem your cash in a mutual fund – unlike in a real estate investment where it could take weeks (or months) to find a buyer.

    Unless of course you have the network (which many don’t have), and you’ll be willing to sell it at below market value.

    Lastly, I personally believe that the best way to go about condo investing is through foreclosed properties, or second hand units.

    Because first, you’ll be able to get it at below market value. Second, you already have an established community in the area that will help you evaluate the potential of the property. And third, it’s immediately ready to make money for you.

  7. Liza Jolina says:

    But buying a house would be far better than renting one, because the latter is technically money down the drain. So yes, I still agree that buying a house esp. if you’re going to live there isn’t technically an investment as it’s not generating income for you… but at least it’s got that ‘investment’ potential, than a rental house.

  8. Ken says:

    One more commonly overlooked thing is if you pay for mortgage on a property, and plan to sell it later, most probably, the total amount you paid to the bank would have been around the same amount (or even higher) than the market value. Thanks to interest and inflation.

    I think real estate investing is best if:
    – you pay cash (or better: if you use passive income from business to pay for it)
    – the area will surely develop significantly in the next few years (if it is already developed, then the increase might not be too high)
    – the property is really being sold at a steal (owner is desparate for liquidation)

    The part that burns most people is when they use their hard-earned salary from a job to pay for monthly amortization of their property. Then they are excited to move in soon, furnish their new shiny property (which usually costs 2-3x their initial furnishing budget), and supposedly they will live happily every after. But the truth is, after 6 months or so, they get tied up at work, and they can’t quit or get fired because they have to pay the amortization (and sometimes the credit card bills from the furniture and new TV, aircon, etc). Not a good situation to be in. Thank God for articles like this, and for people like Fitz.

  9. Fitz says:

    @Liza
    What you said is true regarding the “investment potential” of a bought house. Indeed, rental money is cash down the drain, i.e. an expense.

    However, your monthly mortgage is likewise “cash down the drain” and will only become an investment when you convert or leverage your property to create income.

    And when it comes to real estate, not many people know how to actually “unleash the potential” of their properties.

    I’m not saying that buying a house or a condo unit is bad… I’m only saying that one should not be so quick into thinking that it is an investment.

    And like all other things that you want but don’t generate income – one should only buy it if one can truly afford it.

  10. BarbieQ says:

    Very good article! 🙂

    As an Architect, I do encounter a series of questions regarding condos and townhouse “investments” from my clients. Most of the time i find them sucked in by various marketing strategies and looking for my validations that the condo they thought as an investment would actually be profitable to them in the near future.

    In terms of condominiums, may I share that the structural integrity of any building is only up to 10-15 years. After that, the architects and engineers are not any more liable if it collapse. But do not worry, every year, building inspections are strictly conducted and restrictions are reinforced in terms of constructions inside the units to prevent structural damage and deterioration. I always say to my clients that when buying a condominium unit always think “50 years from now” the building developer will bring it down, and you own nothing but airspace and a minimal share in the property. what do you do then?

    I prefer to buy a house and lot rather than a condo because 50 years from now, i could give the land title to my son/daughter and let them renovate or build a new home for their family.

    Always think Long term.

    There are also “rent to own” housing schemes. when I was still in college, I suggested the idea to my best friend who happens to be my classmate in architecture… after 5 years of studying in manila and splitting the bill with her older sister, and 5 years of working in singapore, she now owns the house and the lot and currently making profit from it by renting it out to a Karinderya.

    Relocation sites are also a good investment or should i say a good buy but not all are… Location is key. In Dasma Cavite, approximately 10 years ago, a relocation site was given to illegal settlers and was made affordable to them. Many of them sold their property in exchange for instant money (lets say 30K -60k) they sold it for various reasons like “it is far from manila”,”no work”, etc. But the relocation site is near the Industrial Park of Cavite. I guess, some are just blinded by the instant cash and did not see the opportunity. Right now, the properties that was brought 10 years ago, by a Seaman for (30k-60k)is generating money year round by renting it out to factory workers.

  11. Larry C. says:

    As a Real Estate Agent here in Philippines, Real Estate Investor in USA (Buying Foreclosed / REO /Bank owned properties)in Florida and sell them. I can say that I am in investor and I am investing. Buying homes in very low price then renovate them and sell them. We bought houses like US$80,000.00 ( aprox 3M pesoses) and sell them up to US$120-150,000.00 (aprox 5-10M pesos).

    This is a very great article. You helped people to determined the real meaning of INVESTMENT.

    Keep it up. I am now your new follower.

    Larry C.

  12. andro says:

    very informative article!
    I have 2 co-OFW, the first one buy a townhouse and the other a condo unit. now, both of them are paying the amortization for the last 4years already.
    As for me, i need only less than a year and i’ll be leaving my work for good..god willing. but, my co-OFW will stay more here in our company for at least 6 years just to pay for it in full.
    we make choices, but i thank god..i made the right choice.
    thank you sir.

  13. elyn says:

    I agree with you! We usually feel great to have these kind of investments but knowing the real essence of investing we realized that it doesn’t payback a great value for our investment at all. Unless we know what we are investing and how much we money we want from our investment. People should learn what to invest in and learn more how to make their money grow.

  14. tarrah says:

    hi there!
    thank you for this post. it is very educational. i think most of us really want to earn. we are overwhelmed by the idea of earning that we tend to dive into anything that sound worth investing. because of our eagerness to have more than what we have today, we end up spending instead of actually earning.

  15. Abi says:

    Is Buying a House or a Condo Unit An Investment?

    Thanks. Buyers should know their goals before buying a real estate property. And most importantly, the level of risk they will be facing by the time they signed the contract.

    Some buyers fail to continue paying for the property because they failed to calculate the risk involve on whether they can really pay the whole amount, some ended up on foreclosure and losing everything they paid for.

  16. MC says:

    Hi Fitz,
    If you do plan to purchase a property for investing purposes, which is recommended? To buy in cash or bank financing or Pag-ibig financing? I admit I can’t do the cash option yet. What are the pros and cons.for each financing option?
    Secondly, I plan to buy a retirement home, Is it a good idea to buy now (lot only) or later when your nearing that age?

    Thanks.

  17. Fitz says:

    Hi MC,

    Bank financing is usually the best option for buying investment properties, specially rentals. Pag-ibig is best for buying your own home, in my opinion.

    Buying in cash freezes your money into the investment and may not be a good option, unless you’re confident you can sell the property within a year or two.

    Lastly, if you can afford it, then go ahead an buy that retirement home lot. The only problem I see there is you might change your mind later on and decide to live your retirement years somewhere else – but in any case, you can always sell that lot if that happens. 😀

  18. mc says:

    Thanks Fitz. Happy Birthday to you. Wishing you more wisdom to share and good health.

  19. crizzy says:

    yes, I agree that buyers should know these things. But bear in mind that there will always be RISKS on investment. The higher risk, higher return, That’s basic. The only risk I know on Real estate investment is Liquidity. Because you really have to look for buyer before you realize your returns. However, if the goal is conservative investment, I’ll still go for a condo, rent it out and sell it.

  20. ceemee says:

    Hi! Do you think buying a lot only is a better investment?

  21. Alham says:

    Hi, nice flow of discussion here… Most of the points I have read are agreeable and has a lot of basis actually. I just have to raise a note on one statement that: “monthly mortgage is likewise cash down the drain” In my opinion, there is a HUGE difference between the rental payment and monthly amortization… They can’t be both classified as “cash down the drain”. It is only applicable to the former, because after you have paid that out… It’s already down the drain and has no chance of redeeming it back… ever. With the monthly amortization… After you have paid that out, it is still technically redeemable as it is intended as payment to a unit that will become your own. So the money is still in the house… Still within your fence and therefore, you can liquidate it at some future time. And even if you don’t liquidate your unit, still it has value that is associated to the unit owner. I don’t think the same can be said to monthly rental… It has zero value and cannot be liquidated… ever. Just wanted to raise this up because it might send wrong signal to others… But still at the end of the day, take the time to study any investment that you plan to enter because most of investments have inherent risks.

    Good day to all.

  22. leen says:

    Hi! thanks for sharing!!, i’m also an OFW and just bought a Condo unit, before i bought it i planned this for more than 02 years, it will be my liability now but soon it will be part of my investment. proper planning is always be the best for the future 🙂

  23. Nhie Garcia says:

    Good timing. Thanks for sharing this. After reading this post I made the decision to sell my condo units. But I don’t know where to go. Coz we in England and I don’t where to find a good Brooker or realtor.
    Any recommendation would be great. Thanks

  24. Cute2014 says:

    This is a good article. However the author uses so many technical terms and a reader who’s unfamiliar with these terms would find the ideas hard to understand.

    Words like “leverage” “portfolio”, “equity” are jargons-and most readers who are drawn to this article are people who want straight and simple answers.

  25. annethologia says:

    Sir, which is better to buy, a foreclosed house and lot or a new condo unit?

  26. Bbbb says:

    I enjoyed rading your article. Thank you very much, it has been insightful.

  27. ZG says:

    Hello everyone. What is the best loan term? is it to pay it in 5 years or 15 years? through pag-ibig or bank financing? Thank you.

  28. Noel says:

    In my opinion, condos only have about 50+ years in them. After that time, the cost of maintaining the condo will be more than just constructing a new one.

    There are articles out there saying condo owners still have a say in that, but even if they do, they will have to shell out the maintenance cost of an arguably unsafe building. I would stay away from pre-selling condos.

    There are a lot of house and lot for sale in the Philippines. It is a better investment, since you can pass it to your children, unlike condos (technically you just own the space in X-floor). I am also scouting the housing market in the Philippines using free classified ads sites.

  29. pinaysaeuropa says:

    Hello everyone. I would like to share my experience of buying a pre-selling condo unit in the Philippines https://pinaysaeuropa.wordpress.com/2015/02/17/i-bought-a-pre-selling-condominium-and-only-wasted-my-money/
    Please beware and make the same mistake that I did

  30. Bert says:

    Even if you don’t sell a property it’s still an investment as long as the value appreciates over time. Money is an object with value the same as properties and stocks. It’s just that moneyh is more liquid than properties. The same with what you said, if you don’t use your cash, you won’t benefit from it. However, cash alone won’t appreciate unless invested in another asset like properties and stocks. In fact money depreciates every year due to inflation. You might as well hold a property than cash, right?

  31. Stig says:

    Not necessarily Bert. If a Condo is going to be demolished after 50 years, then its market value will go down over time – especially as it gets closer to the 50 year point.

    Sure you will get a share of the income from ‘selling the land’ but divided by 100+ condo owners, that will be a fraction of the ‘market value’ (or indeed rebuild value) of condos at that point.

    Note also that even now there is almost no market for older condos in the Philippines. Remember too that there is “capital gains tax” (6% of the value) to be paid when selling a “non-new” condo.

    All of which means that the decision to buy a condo is likely to make sense only if:

    1. You can buy it for cash (minimising the costs) and
    2. You plan to live in it, and can therefore work out the effective “rental” return that you save, or
    3. You plan to rent it out and you have an accurate view of the expected rental rate and occupancy rate (net of condo dues / insurance / annual tax / rental agent fees / ongoing repairs).

    IMO, the only safe way to invest in a condo is to assume it will be worth nothing 50 years after it was built, and that your chances of ever selling it are slim. Then make your decision.

  32. Mus says:

    Last 2 years I purchased a pre-selling condo in Ortigas and paid 50% of the price, I would like to sell it when it ready in mid next year. My questions are could I sell it without paying the balance 50% and what are taxes I need to pay. Thanks.

  33. […] if you are someone who has just started working, being tempted to “invest” in a house or lot somewhere outside the Metro or in a condo unit somewhere at The Fort is […]

  34. Victoria Dela Cruz says:

    I still think that buying a condo is an investment. Investment not in financial terms, but the peace of mind that it will provide me and my family in the long run. Yes, I will shell out money first, but that’s how investments run, right? You need to risk to gain. And considering the real estate market in the country today, I see no reason why I shouldn’t sell.

  35. Stig says:

    Victoria – you are describing an asset, not an investment. An investment brings you a real cash return. If you and your family live in the condo, that is great – you save the rental, and it gives you peace of mind. But it’s actually a cash liability: you have to pay out for annual insurance, property tax, monthly condo fees and repairs.

    And although yes, the real estate market is rising (as measured by the price of new condos), the reason you would find it hard to sell is because:

    a) There appears to be no market demand for old condos
    b) You are competing against all the new condos

    In the end, it doesn’t matter how much you think your asset is worth, or what new condos are selling for. if you can’t actually find a buyer, then it’s not worth anything. And finding a buyer in the Philippines is exceptionally difficult.

    If you and your family plan to live in the condo for 20-30 years, then even on a cash basis it might make sense. Just don’t call it an investment – it really isn’t.

  36. JR Caparas says:

    @BarbieQ or Fitz –

    Re In terms of condominiums, may I share that the structural integrity of any building is only up to 10-15 years. After that, the architects and engineers are not any more liable if it collapse. But do not worry, every year, building inspections are strictly conducted and restrictions are reinforced in terms of constructions inside the units to prevent structural damage and deterioration. I always say to my clients that when buying a condominium unit always think “50 years from now” the building developer will bring it down, and you own nothing but airspace and a minimal share in the property. what do you do then?

    What if it is a medium rise condo of less than 8 floors? Will it still be “demolished” after 50yrs? What are the differences in “investing” in a medium rise vs high rise condominium?

  37. May says:

    I totally agree with what you said. I’ve been in condo rental investments for years. Foreclosed properties gives the best rental income and highest positive cash flow. Knowledge in real estate investment is very important. I know a lot of people who buys a condo and doesn’t know what to do after buying, like what you said it becomes idle asset and we do not want that so I think it is important to read articles like this to increase our knowlege in investment. It is a never ending learning process. Thank you for sharing your knowledge. 🙂

  38. Daniel OFW says:

    In my knowledge investment have several forms. Good investment, Neutral and Bad investment.

    In finance for example you invest something that in your belief it may turn into a positive after a long run. Yes good investment called an asset because it generates income from the initial of your investment. And bad investment when its not generating any income anymore then it is called as liabilities. If any agents says real estate is a good investment then they only pertaining the term in a positive way. As a buyer they have all the rights how their investment runs whether they sell or not to sell.

    In life, if you work and earned-hard in years and buying own property specially for those ofw is considered their investment is an asset.

    Therefore… the term investment depends on how to be defined.

  39. Steve says:

    Knows lots of people who got burned buying based on speculation that it will increase as time passes, don’t forgot the lesson of 2008 housing bubble, a lot of people still under water up to now.

  40. karl anthony m. lara says:

    its simple…logically there is a certain level of financial capability for investors who tends to invest on high rise real estate (condo) & there is a certain forecast updates by timeline on the said potential profitability of an area where should an investor would invest in…

  41. manuel rojo says:

    i bought one but not as an investment just a place for me and wife to use when we go home it’s true it’s a money pit i let my family used the place makes me feel worth the money i spend maintaining it. one good advise if you can’t pay it cash you can’t afford.

  42. I agree! defining the real meaning of investment will lead to where your headed. Like, knowing what road to go is the best action to react on such a situation.

  43. […] it’s probably just an idle asset, or worse, a liability,” says Fitz Villafuerte on his blog. This means you should be willing to sell your unit or have it rented out to call it […]

  44. Maria says:

    An investment is something you will make money off. It is not bought for shelter for income generating venture. A bought condo at greenhills could be identified as an investment. Being knowing of the advantages and risks of buying would enable you to think thoroughly of your actions.

  45. Dave says:

    This article is obviously not written by a property investor. If he had bought condos at the time the article was written in 2011 then the rental income would had already doubled.

  46. Fitz says:

    Hi Dave. I wrote the article, and I am a property investor. I have two office spaces that I rent out. I bought them in 2009.

    Anyway, I’m sorry but I don’t understand your point. What’s the relation of buying condos back in 2011 and now having double the rental income, with how I defined a property investment? I don’t know how you came to that conclusion.

    On the contrary, I believe that’s exactly what I’m saying — a property is an investment if you plan to make money from it. I’m led to think that you did not thoroughly read the article at all.

  47. Wade says:

    So a shares of stock whom (1) you have no plans of selling and intend it for long term holding gain and (2) hold on to exercise stockholder right, is not an investment then?

    I do believe that regardless of the intent to dispose, as long as the value of the property appreciates, it qualifies as an investment. Disposition of property is a right inherent in ownership and in fact using it as well. Do not confuse valuation of property and use of it. If you hold on to your property you retain the appreciation value until you dispose them wherein the holding gains are actually REALIZED. A shares of stock does not lose its investment value just because you are still holding on to them.

  48. Allan says:

    @Wade.

    Comparing stocks investment and property investment is not that simple.

    Property Investment needs regular expenses like real estate tax (amilyar), association dues, security cost, maintenance cost, fire insurance cost,etc. Appreciation can’t be use to pay these expenses. You have to get it in your pocket.

    If you rent it out, you might need to pay to govt (VAT) and once you sell, you pay the CGT (capital gains)

    Stock Investment dont require these annual expenses. You pay tax once you receive dividend or once you sell your shares.

  49. Shin says:

    Lol. What a great discussion here. Just want to ask, can I sell a property even it still on downpayment stage? Because I think, it will be much easier since the transferring of title to the first buyer is not done yet. And there will be no cgt to be paid as well. Or is there a law that prohibits selling the property on downpayment stage? Your thoughts are highly appreciated. Thank you

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