Sell HDB Buy 2 Condo | Scam? | Sell-1-Buy-2

In November 2019, Business Times reported that the Monetary Authority of Singapore (MAS) warned property buyers of this sell 1 buy 2 Scheme (i.e. Sell HDB Buy 2 condo )

📌 Sell HDB Buy 2 Condo | How Does it Work?

Selling one and buying two properties works through leveraging on the loan to buy two properties and hope that the profits will be more than the interest on the loans.

These are the steps to be taken:

  • After 2016, HDB does not allow decoupling anymore for HDB flats
  • In order for you to be able to execute this sell-1-buy-2 plan, you will need to sell your HDB flat
  • SG couple sell their HDB flat to capitalise on its capital appreciation (i.e. cash out)
  • Buy two condominiums, 1 of them for own use & another for investment
  • ABSD will not apply because each spouse will hold one property after selling their flat

The truth is that Sell-1-buy-2 scheme is not meant for everyone.

Sell HDB Buy 2 Condo

📌 Sell HDB Buy 2 Condo | Not a Scam

This strategy is not a scam but it is based on many assumptions. In their eagerness to get your business, the property agents may not have fully explained to you how this method works.

For example, it is assumed the mortgage on the second investment property will be partially funded by CPF while the rental income of this unit will cover the rest of the mortgage.

Do note that bank interest rates fluctuate and rental income may not be stable throughout the years. Both spouses will also have to continue working.

Should one of them lose their job, it could place a strain on the family financially as there would be 2 loans to service at the same time. Both husband and wife must also be mentally prepared to service two mortgage loans for the next 20 to 30 years.

In conclusion, this sell one and buy two schemes is not a scam but it is certainly not for everyone. Hope this sharing helps!

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This is a big decision that will likely require additional financial commitments. Sit down and discuss with our Property Den experts to assess if this course of action is suitable for you.

Dennis Lim

Dennis has more than a decade of experience investing in real estate. Like many fellow Singaporeans, he grew up in a HDB flat with dreams to live in a condominium. Through careful financial planning & hardwork, this became a reality when he was 30. He now owns 3 private properties in Singapore and has helped hundreds of Singaporeans to achieve their goal of upgrading their homes in land-scarce Singapore.

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