6 Key Things HDB Upgraders Should Know Before Buying a Condo in 2023
By: Stacked
With recent policy tweaks and a much pricier property market, upgrading in 2023 might be a bit of a challenge. Here's a look at how you might go about doing it smoothly. Wheather you're looking at a new launch or resale unit, these are the main issues to keep in mind:
A few points on how 2023 might differ from previous years
Before we go into detail below, we should highlight some potential hazards of the current boom market. While most readers are already aware that prices are higher, here are a few other factors to watch for:
1. Rental rates are at record highs
From word on the ground, realtors have mentioned more cases of sellers requesting a later vacant date of possession. Some sellers may even be willing to negotiate further or pay you rent, in exhange for being allowed to stay on longer.
This appears to correlate with rental rates right now, which are among the highest we've seen over the last few years. SOme buyers might be able to use this to their advantage (assuming you're not in a huge rush to move in yourself).
On the other hand, those buying new launch condos may need to increase their planned budget, if rental accommodation is necessary.
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