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Should You Sell Your HDB flat in 2021?


2020 has been an unpredictable year for many of us – from the unfolding of the pandemic, the nation-wide “circuit-breaker” and now, the slow return to normalcy with phase 3 introduced just towards the end of the year.

Similarly, at Youhome.sg, I have experienced a fulfilling year of opportunities along with the winds of change – with me adapting to new ways we service and provide consultations to my clients and finding a great new balance!

2021 bodes a fresh new start for all, and this too is reflected in many exciting property trends. The industry as a whole is anticipating:

  • Property demand to pick up with overall macroeconomic recovery post-COVID

  • Diminishing supply of new projects and land could keep prices high

  • Improvements to HDB resale market

  • And more…

If you are a homeowner or property investor who put a hold on your plans in 2020, now is the time to plan ahead and decide if there’s an opportunity to make a change!

To help you focus your efforts, I’ve consolidated the considerations for 3 common groups of property buyers and/or sellers:

  1. HDB reach (MOP): To Sell or Not To Sell?
  2. Upgrading Plans: Bigger HDB Resale or Private Property?
  3. Down-sizing Plans: Can Downsizing Help to Reduce Financial Commitments?

Feel free to skip ahead to which section is relevant to you!

property singapore

Table of Contents

1. HDB reach (MOP): To Sell or Not to Sell?

If you have a BTO that is approaching the end of the much-awaited 5-year minimum occupation period a.k.a MOP, you might have heard from your friends or family to sell the flat quickly before the prices dip.

Worried? Before you make a rash decision based on hearsay, let’s look at some numbers to help you decide:

Here is a case study based on the resale price index of Punggol 5-room flats in two different age brackets – one that is 5 to 10 year-old (just after MOP period) and another that is 10 to 15 year-old.

punggol-5-room for sale
Punggol 5-room - age 5 to 10
Punggol 5-room - age 10 to 15

One that is 5 to 10 year-old (just after MOP period) and another that is 10 to 15 year-old.

Here’s what the numbers show:

  • For flats sold just after MOP (5 years) to slightly older flats within 10 years, the median price shows an appreciation of 3.35% per year.

  • In contrast, for flats that are only sold after 10 -15 years, the median price show depreciation of 1.19% per year.


Prices do depreciate as the flat ages – but not immediately after MOP – so there is definitely enough time for you to do your necessary research and to prepare for a move within the immediate year or two after MOP.

If you know your BTO is not going to be your forever home, the smart decision is to make plans to sell!

Just make sure you don’t hold on too long if you plan to make a sale, since it can affect you in quite a few ways.

One example is the amount of cash proceeds you will receive from the sale.

If you delay a sale and your flat’s price depreciates, you will end up with much lesser cash proceeds (that can be used for your next purchase).

In some cases, we have seen a difference of up to $50,000 reduction in profits just because of a delay in sales.

So, don’t let yourself make this mistake!

2. Upgrading Plans: Bigger HDB Resale or Private Property?

a) Upgrading for more space

Are you working from home a lot more since the new normal and need more space to avoid distractions while at work? Or have you since welcomed a new addition to the family?

If so, 2021 may be a good year to consider upgrading to a larger space at home with more space for everyone!

With a relatively strong HDB resale market, it is most definitely a good sign to sell and lock in the cash profits to channel into either an older and bigger HDB resale or private property.

b) Upgrading for lifestyle change

Looking to upgrade to a condominium with a pool or a private property in the prime districts of Singapore?

2021 is a good time to consider making the change!

Wondering why so?

Analysts in the industry are anticipating trends that could push up prices further in the short-medium term! Not good news for anyone since that means more cash outlays in the future!

Hence so now’s a good time to enter before:

  • Changes to higher buyer stamp duties for investors and foreigners to mitigate the steady price increases

  • Possible tightening of mortgage terms

  • Developers increasing minimum sizes for new developments

All of which will make upgrading or investing a lot more expensive in the future!

Having said that, do make sure to do your due diligence on proper financial and timeline planning before you jump at any opportunity!

3. Down-sizing Plans: Can Downsizing Help to Reduce Financial Commitments?

With the pandemic wreaking havoc on the economy, it is inevitable that many have their livelihood significantly impacted.

If your livelihood has been affected, and you are looking for ways to reduce your financial commitment or even unlocking potential proceeds from your home, downsizing can be a possible option for you.

If you are a property investor who is seeing less than optimal returns on your property portfolio due to the economic downturn, and hope to reduce your monthly mortgages, it might be helpful to look at restructuring your property portfolio.

While it may be a difficult decision to make, downsizing is definitely an effective way to help reduce financial commitments in the long-term.

With the right professional guidance and help you navigate around taxes, fees and any other hidden costs, downsizing can be a smooth and painless process for you.

Still Undecided About Selling Your HDB in 2021?


Just by reading the headlines, we can tell that both HDB resale and resale condos in Singapore are moving on an upwards trend by the end of 2020.

Buyers’ interest and demand for properties have increased and the forecasted dwindling supply in the near future also added to the attention while economy is midway towards recovery.

Recent article also touched on potential cooling measures that may be implemented soon.

So, if you are still thinking about whether or not to sell your property, this might be a good time for you to consider letting it off before further intervention of cooling measures.

Who knows? This might be a golden opportunity, not to be missed!

In all, the nature of selling property is understandably complex and different depending on each individual needs.

This is why we hope this article helped to shed some light on possible opportunities and options for you if you find yourself in any of the above 3 situations!

Bonus for my readers


Need more help to understand if selling your flat is the right decision for YOU?

My readers can request a 1-time free 30 min Dynamic Property consultation. Schedule one now


Property agent review - What my clients say about me

Mr Ang
Mr Ang
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As a investor interested in taking advantage of the booming property market in Singapore, I needed a realtor with in-depth knowledge of the local market. Using his understanding of the various sectors of the market, Rick generated a investment progression report and we decided to buy a condominium in a choice area with huge potential for multiple returns in the future. Thanks Rick, I will definitely be doing business with you for a long time!
Ms Claire
Ms Claire
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I am writing in to compliment Rick Huang for his invaluable service, for the sale of my Esparina Residences. The process was complicated but he was able to empathize with my situation and also provide brilliant advices that ensue the smooth transaction. In all, I am appreciative with his professionalism and human touch in this journey. Thank you!
Ms Ho
Ms Ho
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I was sceptical about engaging a friend to sell our house. However, Rick has put himself out on so many levels just to ensure everything went smoothly, promptly and correctly at every stage. I trust Rick and would surely recommend him to anybody seeking to buy or sell a home! I do not usually post reviews but this is worth investing my time. Thanks once again..
Ms Malar
Ms Malar
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His service is beyond my expectations. Always going the extra miles to serve his clients.
Ms Jo
Ms Jo
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My husband and I started our home-search by ourselves but was met with issues soon enough as we were unsure of the important things and areas to look out for and we were also not experienced in the negotiation process with the seller’s representing agent. Soon after hearing our problems, I was introduced to Rick by a friend. The entire buying process quickly became swift and smooth; Rick understands our needs, puts our personal interest first, seals us a good deal and educated us along the way about the important things and areas to pay attention to. Thumbs up to Rick and we will recommend him to anyone for their home-search
Mr Eddie
Mr Eddie
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"In short, Rick did an amazing job. He sold our house at a higher than initially discussed price and got us a good deal for our purchase. Both my wife and I are impressed with his professional yet friendly approach. We will definitely work with him again and recommend him to anyone."
Mr Liew
Mr Liew
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Rick is a very down to earth person. No hard sell or pushy technique. He helped us in planning for upgrade and showing us how to invest in property with in depth property analysis report.
Miss Chong
Miss Chong
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His service is superb. With his property mkt analysis skill, I managed to purchase my first property in Singapore. He is always patient and helpful whenever I have any query about property purchase procedure, especially the computation part of the downpayment. In nutshell, I am really grateful and appreciate for his support.
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Rick is an agent who has displayed his potential in his services. He provided us a very personalised guidance when we first approached him with an intention of purchasing a resale flat. With his knowledge and years of experience has made the entire purchasing process seamless. Thank you Rick for being a great friend and a fantastic agent!
Mr Mark
Mr Mark
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Rick service has a very personal touch. He was extremely patient and professional and does not rush us into making any decisions he provided us with sound advice whenever we have questions and was always ready to provide help with regards to any matter. What impress us the most was the extra step he went by assisting us with the purchase of our new home, even though this was in no way his responsibility to do so. Thank you for the hassle free experience Rick. Highly recommended
Mr Shawn
Mr Shawn
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"It was a pleasure working with Rick throughout my selling and upgrading journey. His recommendations and knowledge of financial calculations and preparations are impressive - even factoring in risk management specific to us, for the next 5 to 8 years. He has shown his expertise in real estate and guided us step by step all the way, making transactions effortless for us. Well done Rick!
Ms Shufen
Ms Shufen
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Rick has been our go-to agent for our past few property transactions He actually patiently brought us to many various property viewings (I think it was more than 10!) before we finally settled on the Cairnhill unit. Rick also helped us iron out all the issues encountered along the way and we are very thankful for his service. Hence, we will continue to engage Rick for all our property related matters. We have encountered many agents throughout the years but Rick is the one that has the most profound display of professionalism, knowledge and dedication in his job. Please keep up the good work!"
Ms Meena
Ms Meena
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Rick's guidance really helps us to sell our unit at a good rate. He did a excellent job giving us professional assistance from step by step till the keys are handed over to the new owner.
Mr Kingsley
Mr Kingsley
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We have worked with a few property agents. We find the interests of the agent are not well aligned with either the buyers or sellers as volume of transactions matter more. With Rick, you can be assured that your interests are well protected at all times. It is reassuring that he shares his opnion objectively to allow home buyers or home seekers to evaluate the decisions for themselves. Overall a smooth experience. Thanks Rick!
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Self Introduction


Rick Huang, Associate Division Director of Huttons Asia Pte Ltd, has been in the Real Estate industry for more than a decade.

He is driven, committed and is enthusiastic about real estate investments.

Today, he leads Team Youhome.sg, and together, he aims to provide his clients with the best experience in their property journey.

The team focuses on understanding the client’s finances and needs and is determined about delivering the best solutions and results for them.

Amidst the hustle and bustle, Rick enjoys quiet time and indulges himself in the intricate art of tea-brewing and teapot appreciation.

He would also take this chance to energize himself and reflect on his personal development and areas of improvement.

He is also a proud fur daddy to 2 rescue kitties and loves spending his free time with his wife and furbabies.

Related Articles:

Ever wonder if you are suitable for Sell one buy two investment concept? – Read more (Sell one buy two)

Is buying new launch or resale condo have better returns? – Read more (New Launch vs Resale condo)

Looking to upgrade from Hdb to condo? – Read more (Sell Hdb buy condo)

What to take note when selling Hdb resale flat? – Read more (Hdb Resale Process)

Buying another Hdb flat, and using the fund from current home? – Read more (Hdb contra)

Why do some Hdb flat price depreciate so much? – Read more (Hdb depreciation curve)

What is one of the most common reason for property negative sales? – Read more (Cpf accrued interest)

Financial calculation for selling a Hdb flat? – Read more (Hdb resale calculator)

Buying EC before selling your HDB? – Read more (Upgrade to EC before selling your HDB)

Should you sell your EC after 5 years? – Read more (Selling EC)

Should you sell your MOP HDB after 5 years? – Read more (Selling HDB after mop)

Property Wealth Planning – Read more (What is property wealth planning?)

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