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Can You Still Afford To Upgrade To A Condo In 2024? Here’s A Reality Check For HDB Upgraders

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Ryan J

A seasoned content strategist with over 17 years in the real estate and financial journalism sectors, Ryan has built a reputation for transforming complex industry jargon into accessible knowledge. With a track record of writing and editing for leading financial platforms and publications, Ryan’s expertise has been recognised across various media outlets. His role as a former content editor for 99.co and a co-host for CNA 938’s Open House programme underscores his commitment to providing valuable insights into the property market.

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Gincent
Gincent
2 months ago

Hi. Thanks for the insightful article. Actually I would like to know also if private condo owners are also increasingly finding it difficult to upgrade to another bigger new launch condo nowadays. Will be great if you all could a analysis on this. Thanks!

Poor Fella
Poor Fella
2 months ago

Wrong.
EC loan is capped under MSR scheme, which further restrict the max loan amount leading to more upfront down payment.
Surprised a real estate portal would make such an error.

Poor Fella
Poor Fella
2 months ago

Your EC calculation is wrong.
EC falls under the MSR loan framework and not TDSR. The loan quantum is lower and thus higher down payment required.
Nonetheless it shows even new launch EC is beyond reach of upgraders.
Basic fundamental error of EC market coming from Stacked is surprising.

Stacked Homes
Admin
2 months ago
Reply to  Poor Fella

Hi, thanks for your feedback. We didn’t go in-depth on the new EC portion as the focus was more on upgrading to a private condo and the analysis for new ECs was a small focus of the topic. Nonetheless we’ve made a mention of the MSR to avoid any confusion on this matter.

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