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  • Writer's pictureAaron Lin

Is It Possible To Sell Your HDB To Buy A Condo with $5000 income?

Updated: Mar 22, 2021

My friend rung me up one day seeking my advice to clarify this ‘myth’ that has been floating around: Is it possible to sell your HDB and buy a condominium unit based on a salary of SGD$5,000? Well, my answer is a little more complicated than a simple yes/no. It can be true, depending on whether three crucial factors align in your particular circumstance.

1. Your earnings from the HDB sale

Of course, the first question you need to ask is this: how much money are you getting from the sale of your HDB flat? What are the profit margins? If you have managed to secure the HDB flat at a reasonably low rate, and are able to sell it as a significantly large profit margin, this will then substantially increase your chances of being able to buy a condominium unit in the near future.

2. Loans

Second, how much loans can you get? Your ability to secure loans to fund your property purchase depends on your circumstance. A person managing car loans for instance would be differently placed to secure more loans to fund his property purchase, as compared to someone else without those set of obligations.

3. Type of Condominium

I would say it is fairly easier to buy an Executive Condominium (EC) than a purely private property. Moreover, you too have to look at the size of the unit in question. Is it a large four bedroom or a more conservative size? That will affect your ability to purchase a condominium based on a SGD$5,000 salary.


Ultimately, these three factors have to be positively aligned, in order to make your dream purchase of a condominium on a SGD$5,000 salary possible. It isn’t a myth, as it is definitely possible depending on your situation. However, one main factor to consider is that your monthly instalments to be paid will increase. If you have the capability to handle the increase in instalments, and if the three factors are aligned, then this ‘myth’ may just come true.

If you have further questions, or need help ascertaining your ability to make this ‘myth’ come truth, feel free to contact me via any of my platforms – I’m always eager to help.

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