What would your advice be? Wife and I are discussing and appreciate inputs 1) Downsize to HDB and grow CPF, 2) Sell the existing condo and buy a condo under each of our names or 3) Remain status quo? ?

Appreciate your perspectives. Thank you. Would you say, a balanced approach would be to retain the existing condo (since it is only 3 years old and there is little to gain from the sale since the value hasn't risen much) and pay the monthly instalments by cash? In this way, contributions to our CPF OA and SA will grow.

I feel there isnt a very strong need for you to rightsize at this point of time. Will moving to a different place affect negativing for yourself(travel to work) and your child (travel to study)? It can be disruptive for your child at this time. If you expect property prices to rise over the next decade or so (which your option2 is suggesting), u can hold on to your current condo till then to downsize. Your child could be near wanting to marry and moved out to his own unit. By then u will be at a better position to 'downsize', even better since u want to retire by then, u will have a greater cash pool (by selling your condo), or renting it out.

Have u ever considered topping up CPF special account? Actually I would You will earned a guaranteed rate of 4%. Risk-free, regardless of market conditions. In additional u will receive tax relief for the topped up amount. Eg, your taxable income is $40k, for every dollar u earn above 40k is taxed at 7%. Therefore, if u topped up $1000 into your special account, u get $1000 tax relief, u saved 7% of $1000 = $70 tax money. Effectively have gotten 7% return on your money, in additional u will earn 4%% interest yearly guaranteed. I believe your income could be >$80k, which puts u in the 11.5% bracket, which means greater tax savings. But the tax relief is capped at $7k a year only. After that u might want to consider SRS for tax relief. Do u intend to use your OA to pay for housing? Otherwise u can transfer part of them to SA for higher interest.