Singapore's housing market is very competitive and one of the costliest property markets in the world with investors from all over the world looking for a slice of the market.
There is tremendous action in the mass housing market as HDB flat owners are always looking to upgrade their property to high-value properties such as executive condos or private condos as soon as they complete the mandatory minimum occupancy period or MOP.
However, they need savvy advice from professional experts who can take a sale or buy proposal to its logical conclusion and then help in upgrade and reinvestment options. The assistance is also crucial in ensuring the right prices, best locations and stay safe within the legal boundaries in the transactions.
There are many real estate experts and accredited brokers who will tender valuable assistance on options after HDB mop and support upgrade deals to access fantastic properties in good locations.
The option of HDB upgrade to EC is one of the options after HDB MOP. Others include the following.
1. Rent an HDB apartment and buy your own house
2. Sell HDB flat and then buy and resell HDB
3. Sell HDB to buy Executive Condo (EC) or Private Resale Condo
4. Sell HDB and buy a new luxury apartment or private apartment
5. Sell HDB and buy one property to live in and another one to invest
MOP helps to create long-term sustained demand
HDB Minimum Occupancy (MOP) is the minimum time occupants must stay in their designated apartment before they can sell or sublet it.
During the MOP phase, the sale or rental of the allotted home is prohibited and you cannot purchase private property during this 5-year MOP. The MOP mechanism prevents the reversal of ownership by selling for a profit. This policy has helped stabilize the social housing market.
Nowadays, people are not keen to retain their BTO houses beyond MOP because they function only as a residence and not as wealth creation property. For investment purposes, there are other options for looting after the MOP period.
HDB's apartment allocation purpose is to provide housing for the mass market and not for investment purposes. MOP varies by apartment type; it could be 5 years, 10 years, or even 20 years.
As for HDB upgrade to EC, there are two options; one is buying a resale EC or a new EC with the latest building style and amenities. The options after HDB mop and migration to Prime Location Public Housing (PLH) will be lucrative as the condos will appreciate more thanks to proximity to high-demand social amenities such as malls, schools, offices, and hospitals. PLH apartments often come with add-ons like an indoor gym and swimming pool.
View Source: https://tealfeed.com/professional-help-upgrade-hdb-flats-executive-t0zow
