The mission of SG Wealth Builder is to build and protect wealth. Real estate, especially private property, offers one of the most viable routes to reaching financial freedom for many wealth builders. In this article, I will discuss the outlook of both public and private property in Singapore.
Hard truth about HDB flat
In 2017, Minister of National Development Lawrence Wong rocked the real estate market by clarifying that not all older HDB flats would be eligible for the selective en bloc redevelopment (SERs) scheme. Of more chilling is that all HDB flats must be returned to the government at the end of the 99-year lease. The stunning revelations raise the question on whether Singaporeans should buy private property to protect their wealth.
To put things into perspective, Singaporeans should wise up to the fact that the mandate of HDB is to build affordable homes for Singaporeans. It is not the role of HDB to build homes for Singaporean investors to build wealth. Thus, there is a need to adjust our mentality and refrain from thinking that HDB flats is a form of investment asset.
The Terrace Executive Condominium
You can definitely rent out your HDB for asset monetization purposes in order to supplement your retirement income. But do not bank on the approach of capital appreciation because government policies will always influence the price and demand for HDB flats.
On looking back, Minister Wong may be forced [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]
Sign up as member and receive a bonus investment report on Singapore stocks! The membership benefits include:
1) Access to the latest premium articles of SG Wealth Builder
2) Email notifications of latest blog articles
3) Access to Wealth Forum for investment ideas and discussion
4) Free bonus investment report
5) Request for coverage on stocks, insurance and other personal financial topics
6) Comment in articles and Wealth Forum
Note: After payment is made, you will be prompted with registration form to create your user-id and personal password.
You may sign up for the monthly subscription for only $19.99 per month. You can choose to cancel the subscription after one month with no penalty.
Subscribe to Blog via Email
SG Wealth Builder