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I own a HDB apt and have fully paid the loan. Now, I have been looking to do an upgrade to new condo. Just recently, I went to a preview launch and was advised by the agent to explore on getting 2 bedrm and my existing HDB to rent out for rental yield. I have worked out my financials and have no constraints to purchase the condo.

Need advise for the followings :-

1) Is it still a good time to enter despite knowing the overall market conditions are not positive.

2)If I were to stay in the new condo, can I still retain my HDB and to sublet the whole unit?

Thanks !
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5 Answers

Afternoon,

If it's a new launch, it's always good to work on the purchase price, by psf. If it's too highly priced, with the current market of ample supply, it might not do you must good. On the other hand, you know the actual and real purpose of this second property, hence you call the shot.
As for the HDB unit, as you have fully paid for the unit, I would presume that you have attain the MOP, hence you are eligible to rent out the HDB and stay in the private property that you have purchased.

FYI
Mike Lim
 96929209 
ERA Read More
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Hi Hesitate,

If your purpose of buying a condo is for your own occupation, I do not see any reason for you n Read More
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Hi Hesitate,

If your purpose of buying a condo is for your own occupation, I do not see any reason for you not to enter the market now as the rental collected from HDB should be pretty much sufficient to assist you in your loan for your condo purchase. Looking at it this way, where someone else is assisting you in servicing the condo loan, I do not really see any issue for the decision to purchase. If you are looking at it as an investment and looking to cash out after 4-5years, then it'll probably be better to monitor the market accordingly before any commitments.

Regards,
Geryl LIM
Real Estate Consultant
CEA Registration R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More
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Hi,

1) There is no way to determine how the market will move in the next few months, as no one can really predict the market for sure irregardless of how the sentiments swing. However, if you are looking at long term investment, property market in Singapore is generally on the positive. Regardless, the main thing to do would be to determine if the current property you are considering will be the best option you have out of all the new launches in the market now. There are quite a lot of factors, with the main things being location, amenities and even the design of the project. If you take a look at all the caveats properly, it is not true that you will definitely make money in 10 years if you buy ANY property in Singapore.

2) You can get a private property and keep your hdb if you have fulfilled the MOP period. You can choose to sublet the hdb to finance your condo, no problem. Some of my clients prefer to sublet the condo and stay in hdb as the condo fetches a higher rental and they use the condo purely as an investment tool to grow money. It really depends on where your motivation lies.

Good luck :)

Ken Tan
Huttons Asia Ltd

MORE enquiries?

Check me out at my website ==> www.96461490.com
give me a call at 96461490 
or drop me an email: ken_tankw@yahoo.com.sg Read More
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Hi, hopefully you managed to get your doubt or query answered. If so, then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me.

https://www.era.com.sg/R064892F

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More
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