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Old 01-04-2014, 01:47 PM
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Hi gurus,

We need your advice regarding our plan to upgrade. My wife and I are both 40. We have a combined monthly income of $10k a month or $120k pa. We now live in a 5 room HDB flat which is fully paid up and valued at $600k.

We are thinking of selling our flat at $600k and use the cash for downpayment for a $1.2m condo. We then take a 25 years loan of $600k.

Since we both take public transport to work, we don't spend much on transport, so we feel we can afford the monthly payments of about $2400 (24% of our monthly income). We will use our CPF and cash for the monthly payments.

Is this advisable? Thank you.


HDB flat price falling. Better sell your flat fast. Don't be greedy. Just sell. Many people rushing to sell their HDB flat to upgrade to condo.


HDB resale prices sink 1.5% in Q1

Apr 1, 2014 - PropertyGuru.com.sg

Resale flat prices continue to fall, declining 1.5 percent in Q1 2014, according to newly released flash estimates of HDBís resale price index (RPI).

The RPI provides information on general price movements in the resale public housing market.

Prices of HDB resale flats have been on a downward trend since the second half of 2013, falling 0.9 percent in Q3 and 1.5 percent in Q4.

More detailed public housing data for the first quarter will be released on 25 April.

Going forward, HDB will offer about 3,060 Build-to-Order (BTO) flats in Bukit Batok and Woodlands in May. An additional 3,000 flats will also be offered in a concurrent Sale of Balance Flats (SBF) exercise.
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