According to JLL, the number of HDB upgraders moving to condos is currently up over 21 per cent from last year. The idea of a condo-buying spree, in the midst of a pandemic, seems worrying; and perhaps it should, given the steadily rising prices we’ve seen over the past nine months.

One sign of it is with the COV - one-third of resale flats purchased in 2021 involved COV, unlike one-fifth in 2020. By contrast, zero COV had been a growing norm in end-2013 and was the norm for most of 2014 to mid-2019.

At the current prices, it’s possible that some HDB upgraders may be overreaching:
- Upgraders show a preference for large units
- A lot of FOMO buying
- Low mortgage rates can give the appearance of affordability
- CPF spent on the down payments to meet TDSR

To read more on this, please visit: https://stackedhomes.com/edito....rial/are-hdb-upgrade

Chapters
0:00 - Intro
0:58 - A Look At The Numbers
4:44 - #1 Upgraders Show A Preference For Large Units
5:10 - #2 A Lot Of "FOMO" Buying
5:48 - #3 Low Mortgage Rates Can Give The Appearance Of Affordability
6:59 - #4 Spending On Down Payments To Meet The TDSR
8:58 - Outro

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Stacked is an online editorial aimed at helping Singapore home buyers, sellers and renters make better decisions. By regularly conducting research and publishing our findings, we hope to give our readers a much better perspective on buying, selling or renting Singapore real estate.

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