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New HDB rules.. confusing!Im selling my flat so will this affect me?

I own one property only( HDB flat ) and intend to sell it and probably apply for a BTO? Must i sell it so that I dont have an existing loan or does the new law only apply to those who want to purchase a 2nd property?

The next golden question is will the market go down after this round of cooling measure? If yes should I sell it soon? If it wont can i wait for a few more months or even years till my BTO is ready...i have yet to apply bt not sure how fast i will get as I am a 2nd timer. Should i sell the house before the prices drop like crazy and rent out or should i just wait and the this cooling measure might not affect the price?

Do reply.. tnx a lot!
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1 Answer

Mike Lim
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Afternoon,

The current measure is to curb further speculation. Real property buyers who are buying for self-stay will still be out there. They will give it more thought before buying. I would believe that private property will get the most impact.

To sell your current unit now when you have not even applied for BTO might be a huge risk. There are many appllicants who waited for quite some time before they are eligible for something more ideal. Plus the construction time, you might need to rent for more than 5 to 6 years.

Regards
Mike Lim
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