This represents a 75% increase over the first quarter’s figure of HDB flat owners upgrading to private condo or apartments.

As of now, the mass market is still very stable, unlike the turbulence felt in the prime districts which saw many speculators having their fingers burnt while trying to flip properties.

Only 9% of the total deals in the mass market involved sub-sales. This is a very low figure compared to the over 20% reported in the prime districts.

The so-called ‘upgrader projects’ tend to be those situated near to the HDB heartlands such as The Quartz which is near Buangkok MRT Station; Northwood in Sembawang and Ferraria Park Condo in Pasir Ris. All these projects have more than 50% of buyers still living in HDB flats. (14 Sept 2007)

Edited by Sam Gian – Independent real estate sale consultant