The hdb upgraders is a market segment that I serve the most. I understand the frustrations and hurdles they have to overcome in order to upgrade into their dream home.
I can already see that many of them have already been priced out of the mass market condo. It’s simple maths.
The potential gain that they have achieved from the sale of their BTO HDB is not enough to form the downpayment that they will need for a proper sized 3 or 4 bedroom condo.
Typically for a family of 4, they will need at least a 950sqft 3 bedroom to stay in comfortably. And depending on which schools that they are going for. Or near parents for the social support.
If we take a look at the recently TOP or going to TOP projects like Parc Esta, Parc Colonial. The entry price of a 3 bedroom is easily close to $2m.
Which means to have the 25% and the 4% stamp duty will be close to $600k. It can paid using cash or Cpf.
If the family doesn’t have additional savings by the side, it will be difficult to even think about it.
The next best alternative will then be the older resale condos or simply just a bigger size hdb, example sell 4rm and buy 5rm/Exec
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