The Business Times
business-time-50
BRUNCH

From HDB to condo: Upgrading quest has become more challenging

Data suggests HDB dwellers are being priced out of the private property market

google-preferred-sourceAdd BT as a preferred source
Tay Peck Gek

Tay Peck Gek

Published Fri, Apr 21, 2023 · 01:00 PM
    • About three-quarters of all units at The Sky Eden@Bedok were sold at an average price of $2,100 per square foot during its launch on Sept 7., 2022.
    • About three-quarters of all units at The Sky Eden@Bedok were sold at an average price of $2,100 per square foot during its launch on Sept 7., 2022.
    • Lentor Modern fetched a median price of S$2,108 per square foot when launched.
    • About three-quarters of all units at The Sky Eden@Bedok were sold at an average price of $2,100 per square foot during its launch on Sept 7., 2022. PHOTO: FRASERS PROPERTY
    • About three-quarters of all units at The Sky Eden@Bedok were sold at an average price of $2,100 per square foot during its launch on Sept 7., 2022. PHOTO: BT FILE
    • Lentor Modern fetched a median price of S$2,108 per square foot when launched. PHOTO: GUOCOLAND

    BALLOT for an HDB flat. Get married and move in. Fulfil the minimum occupation period. Sell the flat and upgrade to a condominium. This is the typical real estate journey of many Singaporean couples.

    But data suggests the final step is becoming increasingly difficult, with fewer owners of Housing and Development Board flats able to afford an upgrade. The numbers also point to a potential opening for buyers who can wait.

    Buyers of new condominiums in the outside central region (OCR) – the suburbs of Singapore, where property is typically more affordable – are no longer mostly HDB dwellers.

    Singapore propertyBrunchPropertyResidential property

    TRENDING NOW

    Traffic through the strait has been resuming but with interruptions, and there is still little clarity over a permanent solution for passages through the chokepoint.

    Qatari LNG ship struck in Strait of Hormuz, testing US talks

    This comes after a Citi note on Tuesday that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS shares rise 1.9% to hit all-time intraday high as sentiment improves

    Aster deputy CEO Andre Khor, citing the age of the “polycrisis”, says: “It’s very important to be agile, to be focused on execution… We don’t know all the answers but we keep going forward.”

    ‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis

    Singapore ranks as the world’s most expensive city for cars and placed third globally for residential property.

    Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More