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Sell One Buy Two

Is Sell one Buy two a Popular Wealth Building method or is it a Scam?

Sell 1 Buy 2 Properties

SELL 1 buy 2 2023
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Sell 1 Buy 2 Properties” has been one of the catchlines of various property agents in challenging times.

The proposal - sell your HDB flat and use the proceeds for down payments on two condos.

It sounds like a perfect plan and has had some homeowners and investors hooked, but market watchers are cautioning against it, calling for prudence because Selling HDB to Buy 2 Properties carries some serious risks.


Check out the MAS statements within the Business Times

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Table of Contents

Why Sell 1 Buy 2?

Additional Buyer Stamp Duty rates

Since 1st April 2016, HDB flat owners are no longer allowed to transfer ownership of the flat to a family member except under exceptional circumstances.


This means that HDB dwellers are disallowed from giving up their ownership to obtain private property without incurring the recently inflated Additional Buyer Stamp Duty (ABSD).

Selling your house to buying two private properties” strategy are usually targeted at HDB owners, as they need to pay 17% additional buyer stamp duty (ABSD) for their 2nd property.

Having this precedence set, one would understand why the ‘Sell 1 Buy 2’ concept has picked up rapidly over the last few years.

sell hdb buy 2 property

Lets weigh the Pros and Cons of Sell 1 Buy 2 concept today.

sell one buy two

An ingenious strategy or a doomsday plan? Is it a good idea to sell your HDB flat and become owners of two properties with potential for long term profit?

Lets weigh the pros and cons so that you can make a well-informed decision.

The Pros of Selling HDB and Buying 2 Properties


The price movement of  HDB resale from 2013 to 2019.

And HDB price movement from 2020 to 2023.

The value of HDB flats was depreciating over time before ‘convid’ and only for the past 2 years, it has increased more than 26%. 


In order to capitalize on its appreciation thus far, some owners have opted to sell off their HDB flats and renounce their ownership.


This will then enable one of them to purchase a private property such as a condominium as their residential home and the other can invest in another private property, that will not incur additional ABSD and can be rented out, resulting in earnings.


Normally buying a Resale Condo for homestay and purchasing a New Launch for investment.


On the flip side, this also means owners will have two mortgages to pay off.


However, with proper financial knowledge and planning involving personal finances, loans, CPF Ordinary Account contribution, their monthly installments will eventually be manageable.


Sounds enticing? When calculated prudently, employing the ‘Sell One Buy Two’ approach could pay off.

However, this approach is accompanied by certain risks that home owners should be aware of.

The Cons of Selling HDB and Buying 2 Properties

In an article by the Business Times late last year, potential buyers were warned of the sluggish economy, being laid off and depreciating property values.

The Monetary Authority of Singapore (MAS) themselves stood by these potential risks, urging Singaporeans to think twice.


Buyers also need to consider that their eligibility for a good loan to help pay off two mortgages is not guaranteed and so are the rental returns.


If they ‘Sell One Buy Two’, it will become necessary for both parties to work in order to qualify for their individual property loans.


In the situation where one party is laid off, finances would become tight, stripping reasons for having two mortgages.

Eventually, the second property may have to be let go at a loss. These are factors that need to be taken into serious consideration in your planning.


“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!


Buyer - Riverfront residences

Is Sell 1 Buy 2 suitable for you?

In this article, I am not making an attempt to influence you in any way.

Instead, I would like to guide you on the factors that you must look into:

Factors to consider

Home Financial Calculation

sell 1 buy 2 calculation

In-depth financial calculation is always one of the key factors

Scenario 1 - Decide to sell HDB and buy 2 properties

Things to look out for:


  • CASH proceeds you will get back after selling your house


  • CPF monthly deductible for mortgage loan


  • Mortgage loan for property purchase


  • Potential Rental yield or passive income generated from the investment property


  • Potential capital gain from investment property


Scenario 2 - Keep HDB and buy one more property

Table: Loan amount eligibility
  • CPF usable amount for property purchase

  • CPF monthly deductible for a mortgage loan

  • Eligible loan for next property purchase

  • Mortgage loan for property purchase

  • Potential Rental yield or passive income generated from the investment property

  • Potential capital gain from investment property

  • Additional Buyer Stamp Duty (ABSD)
sell hdb buy condo
Additional Buyer Stamp Duty rates


To summarize, financial calculation is an important key factor in Selling 1 to buying 2 properties.


Have your financial work out on the available usable CPF and cash.

If you are not in a good financial situation at the moment, then the Sell one Buy two is a very risky option.

If you are well-positioned to explore the options available.


PLEASE study and analyze in-depth on the investment property that you are looking to buy.

Identify the benefits and how some owners successfully benefited from it 

hdb price index 2023
private property price index 2023
ec price index 2023
landed price index 2023

With proper study and analysis, there are some development out there that have good returns in time to come.

Successful owners that benefited from it. 

Sell hdb buy 2 property | Case Study

sell one buy two

Mr Ang has been staying in a 4 room flat in Punggol with his family.

One month before the property reaches MOP in 2017, Mr Ang contacted me to find out more about his options and in essence, I have gathered that their goals were to:

1) Invest in a property with potential appreciation as their main priority

2) Utilise a low-risk investment approach

3) Wait for the right opportunity


With the understanding that they do not require an immediate place to stay, I proceeded to work out both short-term and long-term plans for them.

With my recommendation, I sold the Punggol flat and went ahead to purchase a brand new 2-bedroom condo at Parc Riviera with Mrs Ang as the sole owner; at this point in time, we have not decided whether this property will be for own stay after its TOP or for rental purposes.

hdb upgrade to condo

DOWN-PAYMENT without savings

They have since purchase a 2-Bedroom Private Condominium without touching their savings.

upgrade to condo

Mortgage Instalments without CASH

They can even repay their monthly mortgage loan installments WITHOUT paying any extra cash from their own pocket.

Then in 2019, after going through detailed financial assessments and a clear asset progression road-map planned for Mr Ang, he also bought a 1-bedroom resale condo with an existing tenancy to generate immediate rental income.

Thereafter, with the good rental yields, the Angs decided to focus both properties for investments, reaching their final goal of low-risk investment and asset progression.

sell hdb buy condo

What Mr Ang says 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!


Now that you see both sides of the coin, it will do you well to mull over the idea of ‘Sell One Buy Two’.


Invest some time to calculate and plan out potential options before deciding on a suitable solution and do deliberate this further with your trusted agent on your preferences and strategies.

As you will come to realize, there is no ‘best’ solution, there is only one that is the most suitable for your finances and family’s needs.


In doing so, you will be able to determine if your move is a doomsday plan or an ingenious strategy.


After learning how you can multiply your assets, and upgrade your family’s living standards, now learn how to execute this asset progression plan in a structured way in order to minimize your risks and gain maximum upside.

Bonus for my readers

Getting your Free Consultation is simple!

  1. Just leave your contact details below


  2. Expect to hear from me within a day


  3. You will receive a free analysis of the best options available

Awards and Accolades


I have successfully helped hundreds of homeowners just like you since 2010

Mr Ang
Mr Ang
Buyer of Parc Riviera
Read More
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
Seller of Esparina Residences
Read More
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
Seller of Blk 272b Punggol
Read More
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
Seller of Blk 332 Serangoon
Read More
His service is beyond my expectations. Always going the extra miles to serve his clients.
Ms Jo
Ms Jo
Buyer of Blk 452a Sengkang
Read More
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
Seller of 127c Kim Tian
Read More
"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
Seller of 260c Punggol
Read More
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
Buyer of Regent Residences
Read More
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.
Buyer of Blk 130 Bishan
Read More
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
Seller of Blk 686a Woodlands
Read More
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
Buyer of Riverfront Residences
Read More
"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
Buyer of Cairnhill Crest
Read More
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
Seller of Blk 475c Upper Serangoon
Read More
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
Seller of Blk 91 Tanglin
Read More
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!
Ms Su
Ms Su
Seller of Blk 93 Paya Lebar Way
Read More
"Rick was introduced by a close friend of mine. This is my second time buying a flat (first time was 20 years ago) and I have forgotten all the procedure. With no experience dealing with selling and buying, this is my honest testimonial. Rick is a very responsible agent which I've met so far. Fast response to all my enquiries and he answered to all my doubts which I have. Reliable and he knows exactly what to do and will give you his utmost advise and service. I highly reckon Rick to those have the intention of getting property agent. Thanks so much Rick for the help and assistance you have rendered from start until the end of transaction. I would definitely recommend you to my relatives and friends. Cheers
Seller of Blk 227a Compassvale
Read More
My wife and I are grateful that a friend of ours referred us to Rick to help sell our unit. Rick responded fast to all of our queries. In fact, we managed to sell off the unit faster than we expected thanks to Rick. He did not even need to resort to cheesy gimmicks and marketing. The journey was kept professional. Despite the toxic culture of the property industry, we can feel that he is sincere and committed in helping us. He is trustworthy and we felt that we were in safe hands with Rick as our agent.
Ms Sharon
Ms Sharon
Seller of Blk 648 Ang Mo Kio
Read More
I had in the past dealt with agents who were pushy and did not do their homework. But with Rick, I am put at ease with someone who is not only very knowledgeable but understanding. He keeps my family posted on what we need to know, is very diplomatic, tactful and professional. If you need your place sold, you need a reliable person like Rick to help you. Thanks Rick once again. Warmest Regards, Sharon Lim
Mr Sri
Mr Sri
Buyer of River Isles
Read More
Rick was introduced to me by a friend, who has seen Rick while he was helping another client. Rick has played an exceptional role while I was buying a private property. He is patient, humble, polite and a nice human being. I highly recommend him if you are looking for an agent in your property hunting. I worked with several agents but he will be my go to agent for any future deals. It was excellent experience..!
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Self Introduction


Greetings! My name is Rick Long, and I am proud to serve as the Associate Division Director of Huttons Asia Pte Ltd, with over a decade of experience in the real estate industry.

My passion for helping clients find their dream homes has grown exponentially during my tenure in the field. As a graduate of Singapore Polytechnic, I have always valued the importance of hard work and determination.

My prior experience serving in the airforce instilled in me the value of teamwork, perseverance, and discipline.

Over the years, I have been privileged to receive several accolades for providing exceptional service and dedication to my clients.

My ultimate goal is to ensure that each individual I work with has the best possible experience, whether they are buying or selling a property.

One of the most rewarding aspects of my work is receiving glowing five-star reviews from satisfied clients.

Knowing that I have positively impacted someone’s life is truly humbling, and it motivates me to continue striving for excellence every day.

When I am not working, I enjoy spending quality time with my loved ones, indulging my passion for sports, and exploring the rich and diverse culinary landscape of Singapore.

Amidst the bustling pace of life, I relish moments of calm by immersing myself in the art of tea-brewing and teapot appreciation.

My commitment to delivering exceptional results to my clients is anchored on my extensive knowledge and experience in the real estate industry.

Above all, I always strive to be kind, respectful, and approachable.

Thank you for taking the time to learn a little more about me. I look forward to the opportunity of working with you.

Additionally, Rick is a proud fur daddy to two rescue kitties and loves spending his free time with his wife and furbabies. He believes in giving back to the community and volunteers his time to animal welfare causes whenever possible.

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)

This Post Has One Comment

  1. Ken

    Hi really appreciate the in-depth sharing. But i do have some doubts on the risk level. Will contact you for a meet up. Thanks

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