Why Some Singaporean Parents Are Considering Selling Their Flats — For Their Children’s Sake

Would you surrender your comfortable but old flat, for the sake of your children? 

Or would you call that an overreaction? This past week, I met a pair of older Singaporeans who are considering selling off their 40+ year old flat. My first question was “upgrading or rightsizing?” 

And I was caught off guard when I was told “Maybe try to ballot for BTO again? Or buy a newer resale flat?” 

Now this couple have an older (read: bigger-than-today’s model) 4-room flat, in the highly desirable Ang Mo Kio area. And yet they were willing to surrender this, to try and find a newer flat; even if that meant a smaller 3-room flat, or living in a more “ulu” location. The reason, it turns out, wasn’t even for themselves.