The truth behind HDB upgrading

The HDB resale market saw a record-breaking 12.7% increase in prices last year— the highest since that of 14.1% in 2010.

Whereas HDB flats tend to bring about a stagnant capital gain of less than 1%, private properties would generally give rise to an average capital appreciation of 57%. The revival in the HDB secondary market is, however, not a surprising phenomenon.

With Covid-19 causing delays in the construction of the Build-to-Order (BTO) flats and condominiums, resale HDB flats provide homebuyers quicker access to an abode. Moreover, the spaciousness which HDB flats in mature estates may offer, has also become more appealing as work-from-home arrangements have become prevalent during the pandemic.

This might therefore be a good time for you to enter the market. More than an elevation of your lifestyle, upgrading from a HDB flat to a condominium would allow you to capitalise on your existing HDB flat, to build your wealth. In fact, it is possible for HDB owners to cash out more than $350K today, and purchase a private property with $0 cash outlay— while still having an additional sum from the sale of their flat.

At Wonder Homes, we have assisted many HDB owners in growing their wealth through building their property investment portfolio. Find out more at https://www.wonderhomesg.com, and contact us today!