Hi Tony,
In my humble opinion, it will make better financial sense to switch to an EC instead of a private property. This are the reasons why:
1. Buying a private property will incur a 7% Additional Buyer Stamp Duty, which is equivalent to $70,000 for a 1 million property.
2. ECs are priced 10-15% lower as compared to private condos within the same location as they are considered a "subsidised" class of housing catering to the sandwich class. Historically, most if not all EC owners have made a tidy profit when they sell off their unit after the MOP.
3. There will be a oversupply of condo units in the next few years. In view of the gloomy economic outlook and developers subjected to hefty stamp duties by the government as they struggled to offload unsold units, prices are bound to retreat further. Buying a condo right now may not be the best choice as prices may head further south.
4. There are quite a selection of ECs in the market right now with some just TOP or nearing TOP. For the same price, you can get a bigger size EC as compared to a private condo.
I have just assisted my client upgrade from his HDB to a EC. Please feel free to contact me so that I can understand your needs and discuss further with you. Thank you.
Regards,
Nick Tan
(M)
+65 9644 4854
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nicktan@propertyavenue.com.sg
(W) www.nick-tan.com / www.propertyavenue.com.sg
Testimonial from Satisfied Clients (2015/2016)
“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)
“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer of HDB)
“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer of HDB)
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought through Nick)
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