2021 - a good year for HDB Upgraders?

Just two months into 2021, 36 HDB resale flats had been sold for at least a million dollars! In fact, during Feb 2021 alone, 23 million-dollar flats changed hands, marking a new monthly record. HDB prices also increased for the eighth consecutive month, surging even further upward with the strong demand and limited supply. This increased surge warrants the question – should HDB upgraders take advantage of the seller’s market to upgrade their HDB to a private property?

Before we address that, it’s important to understand why the market is surging, and what factors contributed to resale flats’ rise in popularity. One main factor is waiting time – resale flats are much faster, in that there’s no three-year waiting time as compared to a BTO flat. First-time homebuyers are also eligible for housing grants, making it an attractive option for those looking to move in quickly. And, with the surge in BTO flats that have just hit minimum occupation period (MOP), resale buyers are likely to flock to these flats, being in a much newer condition and with a longer lease left.

At the same time, many prospective home buyers are hoping to secure their new property — whether HDB or private property — before further cooling measures are introduced to stem the continued hike in property prices. This urgency has pushed up the demand for flats significantly, making it the best timing for HDB upgraders to sell their flat at a higher price, and invest in a private property to start growing their wealth.

If you’re an HDB homeowner looking to sell your property at a higher valuation, we’d love to help! We’re Pamela & Shirley from Wonder Homes, and we have helped many homeowners and investors along their property investment journey. Check out our website at www.wonderhomesg.com, and drop us a call today!

Pamela Tan: 9457 6525

Shirley Wang: 9436 1909