Would it be a good idea to sell our 5-room (~$750K) and upgrade to a 2 bedroom condo (~$800 - $900K) located in the OCR region (Punngol, Sengkang, East Coast etc...) near the MRT for better capital appreciation? Would it be a better investment 10 years down the road? Our jobs are stable and we don't intend on having kids.
From the limited info you have shared, For your queenstown flat, if you have bought at a lower price many years back, my guess is it is more advantageous to you to keep the unit as the rental yield is high. Queenstown will always have tenant demand due to its city fringe location between cbd and buona vista commercial nodes.
Is 7% ABSD a key concern? May I understand your plans better so to make better recommendations? Perhaps there are ways to work around and achieve your objectives. Thanks and hope to.value-add further to your plans.
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There is actually a few EC which you can consider. With the sales of your HDB, you should be able to upgrade in a comfortable pace.
There are quite a number of requirement that you will have to met to fulfill. A details calculation is definitely required too.
If you have some time to spare, might i suggest to have a short meet up with you to discuss about your plan.
I am looking forward to hear from you soon.
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It boils down to your financial profiling. If it is outright sale of 1 HDB for a purchase of 1 condo, I would not encourage such a move since your HDB should be able to generate much better rental returns in comparison with a condo in OCR which you have identified. The whole upcoming supply of units in the OCR area you have identified is quite worrying for investors who have purchased units there as there is high level of competition for rental as well as sale when it matures.
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You should always upgrade your property if it is within your means. This is a ripe time as HDB prices have stabilised and it is a buyer's market currently. In the private resale market, there are plenty of options available but you will have to pick the right areas with potential so that in time to come, you will be able to reap the benefits.
Many Singaporean get rich through property investment in their lifetime. They will upgrade from HDB to Condos and lastly to Landed properties. Upon retirement, some of them cash out from these investment and downgrade to a smaller unit. By doing so, they will be able to retire comfortably with the profit from their investment. Therefore, it is good to act early!
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Testimonial for Satisfied Clients (2015)
“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer of HDB)
“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer of HDB) Read More