Answer
Salary Needed to Buy a $1M Condo in Singapore
The bank doesn't use your actual mortgage rate — they stress-test at 4%. Here's what you really need.
Answer: To buy a $1,000,000 condo in Singapore, you need a gross monthly income of at least $7,600 with no other debts. This assumes 25% down payment ($250,000), 75% bank loan ($750,000), 25-year tenure, and MAS stress test at 4%. Monthly payment at the actual market rate of 3.5% would be about $4,180.
The Math — $1M Condo
| Item | Amount |
|---|---|
| Purchase price | $1,000,000 |
| Down payment (25%) | $250,000 |
| ↳ Cash (min 5%) | $50,000 |
| ↳ CPF OA (up to 20%) | $200,000 |
| Bank loan (75%) | $750,000 |
| Monthly payment (3.5%, 25y) | $4,180/mo |
| Min income (TDSR at 4% stress) | $7,600/mo |
If You Have Other Debts
How existing obligations raise the income bar
| Monthly Debts | Min Income for $1M Condo | Increase |
|---|---|---|
| $0 | $7,600 | — |
| $500 (credit card) | $8,510 | +$910 |
| $1,000 (car loan) | $9,420 | +$1,820 |
| $1,500 (car + cards) | $10,330 | +$2,730 |
| $2,000 | $11,240 | +$3,640 |
TDSR = 55% at 4% stress test. 25% down, 25-year tenure.
Solo vs Couple
| Scenario | Income Needed | Payment/Income | Comfort Level |
|---|---|---|---|
| Solo, $7,600 | $7,600 | 55% | At TDSR limit |
| Solo, $10,000 | $10,000 | 42% | Tight |
| Couple, $5K + $5K | $10,000 | 42% | Tight |
| Couple, $6K + $6K | $12,000 | 35% | Manageable |
| Couple, $7K + $7K | $14,000 | 30% | Comfortable |
Under 30% = comfortable. 30-40% = manageable. Over 40% = tight.
Check with your real numbers
Your HDB equity, CPF balance, and debts change everything. Run the full pipeline to see your actual max condo price.
Run My NumbersFAQ
What salary do I need for a $1 million condo in Singapore?
You need a gross monthly income of at least $7,600 with no other debts. This is based on TDSR (55% cap) at the MAS stress test rate of 4%, with 25% down payment and 25-year loan tenure.
Can I buy a $1M condo on $6,000 salary?
Not alone. At $6,000 gross monthly income with no debts, your max loan is about $590,000 — supporting a max purchase of ~$790,000. You would need a co-borrower to reach $1M.
Can a couple earning $5,000 each buy a $1M condo?
Yes. Combined income of $10,000 exceeds the $7,600 minimum for a $1M condo. Monthly payment would be about $4,180 at 3.5% — 41.8% of gross income. Doable but above the 30% comfort zone.
How does a car loan affect my $1M condo eligibility?
A $1,000/month car loan increases your minimum income from $7,600 to about $9,420. Every dollar of debt reduces your housing budget by about $1.60 in loan capacity.
Does TDSR use gross or net salary?
TDSR uses gross monthly income — before CPF deductions and tax. If your payslip shows $8,000 before deductions, that is the number banks use.
Related
Last updated Feb 2026. TDSR: 55%, stress test: 4% (MAS). This is educational, not financial advice.