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Hi Joel,

That's not an issue, I can work out the financials for you so you can plan for the next purchase with ease.

Feel free to contact me at your convenience, and we can carry on from there.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More

Good afternoon Joel,

Probably you can share more information on your parents' flat (full address) so I will be in a better position to advise you further.

1) I personally feel that a HDB will gradually lose its value as it grows older. If property age is at least 40 years old, the buyer might be restricted to utilise all his CPF OA funds as well.

Sell it when there's still value.

2) By the way do share with me how much CPF OA funds your parents had utilised in this HDB so I am able to calculate the sales proceeds. With that and finances on hand, I will draft out a financial plan to see whether this upgrading plan is feasible.

I am an EC owner myself, I personally believe in the potential of it. Usually with EC priced 10% to 20% below surrounding private condos, your parents should seriously consider about it if it's within their means.

Hope my sharing is beneficial to your parents' upgrading plans.

May I know how can I continue to value add in their purchase?

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
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Hi Joel,

May I know which address are you referring to? For older flats, it may start to lose its resale value as the flat gets older, and once the balance lease is 40 years and below, the cpf and loan that can be utilized by your buyer will not be full and will be restricted.
It may be worthwhile to sell while there's still resale value, and clementi 5-rm flats can still fetch 700k upwards in current market.

For new ECs, they are typically priced 10-20% below comparable private condos in the vicinity hence by the time it privatize it typically will appreciate and "close" this gaps. From this perspective you are trading a depreciating asset for an appreciating one with not a lot of funds top up needed, and also an upgrade in lifestyle. It is worth a consideration.

May I understand your plans and requirements further so to value-add further to your plans? Thanks and hope to have the opportunity to work with you.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
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Hi Joel,

1) You should always do an upgrade if it is within your financial means as in the long run, property prices in Singapore will appreciate due to inflation, population growth and our limited land space.

2) It is wise to upgrade from a HDB to a EC as you will be able to upsize to a better property type while cashing out some of the sales proceed from current HDB to be used in other forms of investments ie stocks or bonds.

3) EC is a hybrid type of property catering to citizens who are eligible. They are priced at 20-30% lower as compared to private condos. However, they are also essentially private condos after 10 years when it fully privatised. ST carried a very good coverage on owning and investing on EC on 20th Mar 2016. I can sent you the article for you to take a look.

4) I have assisted my clients who upgrade from HDB to ECs and are now sitting on paper profits when their EC TOP.

5) The finances have to make sense before you can do the upgrade. Please feel free to contact me so that I can work out the sums for you to see whether the upgrade makes financial sense.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
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Hi Jo el,

Put it simply, as the HDB ages, the less appealing it will be to prospective buyers. Given that the age of the Clementi unit is arriving to the magic figure where purchasers may not utilise their CPF fully for purchase, this could also affect your current resale price.

Therefore my very own opinion is that you should decide more on your housing needs and affordability more than considering the absolute financial value of the properties being sold and purchase, as intangible values could be significant for this move. I am sure you are not a flipper of properties where you sell every 5 years or so.

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Hi Jo,

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