Forget F.I.R.E — Could Commercial Property Be the Real Path to Financial Freedom?

The dream of F.I.R.E (Financial Independence, Retire Early) has inspired countless Singaporeans. But in today’s market, the traditional routes, saving aggressively and investing in equities, are becoming harder to execute.

That got me thinking: could property investment be a realistic alternative to F.I.R.E?

1️⃣ Residential Property: A Game for the Wealthy

Let’s be honest, residential property investment in Singapore has become a playground for the wealthy. With ABSD (Additional Buyer’s Stamp Duty) now at punishing levels for second properties, most middle-income families are priced out of the game.

Even if you could afford a second property, the math doesn’t make sense. After ABSD, loan restrictions, and rising interest rates, the yield barely covers the holding cost. For most people, it’s just not practical anymore.

2️⃣ So How Do You Invest in Property Then?

That’s where commercial property comes in. No ABSD. Lower barriers. And plenty of opportunities if you know what to look for.

Commercial spaces fall broadly into three categories:

  • 🏬 Retail units – found in malls, shophouses, or neighbourhood centres.

  • 🏭 Industrial spaces – used for warehousing, logistics, or light manufacturing.

  • 🏢 Office spaces – for business operations, often in central locations.

Each type has different risk and return profiles, from rental yields to maintenance requirements.

3️⃣ Why I’m Focusing on Retail

After reading multiple reports and studying occupancy trends, I’ve decided to focus on retail spaces.

Here’s why:

Retail occupancy rates have stayed consistently high, even post-pandemic. The shift toward local consumption and neighbourhood convenience has kept many small retail hubs busy. While office and industrial spaces face cyclical demand, retail (especially in suburban areas) has shown surprising resilience.

4️⃣ But Who Has a Million Dollars for a Retail Unit?

Let’s be real, a 1,000 sqft retail unit in Singapore can easily cost over a million dollars.

My solution? Co-own it with trusted friends.

Pooling resources allows us to enter the market together, spread the risks, and share the gains. I handle the management side, rent collection, tenant communication, maintenance,  for free. It’s my way of learning the ropes firsthand while ensuring the investment is managed properly.

And once you’ve gained experience managing one property, you’ll be surprised how scalable it can become.

From one retail unit, you can slowly move to two, then three, and eventually build a small portfolio that generates consistent rental income. Each property adds another layer of passive cash flow, a step closer to financial freedom without needing to retire early.

Final Thoughts

Property investment doesn’t have to be a billionaire’s game. It can be a community effort, a smarter, more accessible way to build passive income without chasing volatile markets.

F.I.R.E might be about saving and investing your way out of employment. But real financial freedom could also come from owning real, income-generating assets that stand the test of time.

Because while markets swing, rental cash flow is real, and rent never sleeps.

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