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HDB Upgraders

Are you currently owning a HDB flat? Do you have plans to upgrade to a private property? Read on to find out more…

HDB flat
HDB flat

1.Should you upgrade to another HDB flat, an Executive Condominium or a Private Condominium?

2. Can you afford to buy your next private property and keep your HDB flat with the new ABSD rates?

3. Should you sell your HDB to en-cash the sales proceed for your next house? What are the benefits and pitfalls?

4. Should you sell then buy later? Or buy then sell later? Does it make any differences?

5. If you are staying in an aging HDB flat? Should you sell or hold?

Aging Property

By the way, are you currently owning an aging property with a 99 years tenure? If yes. Are you aware that the older the property, the less value it has become of the shorter lease? This apply for both HDB flats and private condominium. If you own a private condominium, you can still bet on that enbloc. But if you own a HDB flat. You will be seating on a depreciating asset in years to come. 

Typical prices movement for a 99 years leasehold HDB flat
Typical prices movement for a 99 years leasehold HDB flat

 Disclaimer: The above chart illustrate a typically prices movement over the span of 99 years. Property prices usually will decline towards its tail end of its lease. How much and how fast it decline depend also on the prevailing policies and market condition at that point of time. 

Restriction To Use CPF For Property With A Lease Less Than 60 Years

In addition, there is the restriction in the use of CPF for property with a remaining lease of 60 years old and less. Banks will also impose limit to the borrowed amount for a shorter remaining lease. This will result in buyers having to use more cash instead and indirectly reduce the number of buyers for your property!

old hdb flat

Old HDB flats at Queenstown

In the next few months. The authorities have announced that they will be reviewing the use of CPF for aging property. This will likely helps to stabilize HDB prices. However, an aging property is still a property with a shorter lease. Buyers will still exercise caution in buying. 

A Sinking Ship?

Here, will your property be like a sinking ship where the property prices will decline over time with a shorter remaining lease? Should you move on first before the ship sink?



1. How will these affect your PROPERTY VALUE?

2. Should I continue to HOLD onto your AGING HDB FLAT

3. Or should you PLAN AHEAD before this potential tsunami?

Case Study 1

Sell Aging HDB Flat & Upgrade To A Condo

Aging HDB Flat
Aging HDB Flat
  • Mr Wong is 45 years old. Married with 2 kids. 
  • He used to own a 4 Room HDB flat with a remaining lease of 65 years. 
  • He has plan to upgrade to a nearby HDB Executive Maisonette so that he can have more space. 
  • After exploring his option. I shared with him that if he buy another aging HDB flat. He will face 2 issues down the road.
  • The first issue is the aging HDB flat is not going to be an appreciating asset once the remaining lease is less than 60 years old. 
  • The second issue is the restriction of the use of CPF funds once the lease is less than 60 years old. This will indirectly lead to less buyers when he plan to sell his Executive Maisonette later down the road.
  • Ultimately, after working out his sum. Mr Wong and family decided to upgrade to a nearby condo that has better asset appreciation. 

Case Study 2

Upgrading from a BTO HDB Flat to An Executive Condo

executive condo
executive condo
  • Ms Tang and spouse are both 35 years old. They are married with no children. 
  • They used to own a BTO flat in Yishun.  
  • They decided to buy a resale HDB flat once their MOP has been fulfilled.
  • The HDB flat they are going to purchase cost approximate $800,000 in a mature estate. The HDB flat has a remaining lease of 75 years. 
  • After exploring their option with them. I shared with them assuming they stay in the next HDB flat for another 10 years. The remaining tenure will be left with 65 years old. The shorten lease will deter the next buyers from paying a high price for the flat.
  • Ultimately, they decided to purchase a brand new executive condominium instead that has a higher upside potential.

The above are case studies that I personally advise them based on their respective financial status and housing needs. All cases are different. Speak to me to explore your housing needs. Let me customize a workable housing plan for you and family. 

Plan Ahead!

Its never too late to plan ahead. 

My Services

1. Help you with a free financial assessment on your ability to upgrade.

2. Explore with you what are your next housing options.

3. Share with you the step-by step procedure and timeline how to achieve the above.


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