Asked by Anonymous
Asked 1w ago
Currently working overseas and have a 4-room, 30 years old HDB flat near Simei MRT.
Caught in between renting out my HDB or selling it? Coz given the ‘old age’ of the flat, think it is better to sell?
It really depends on the type of income you want as well as other factors like the current property market and your future plans.
Looking for a lump sum where you can immediately use for other forms of investments?
Sell your flat would perhaps be the better option.
Looking for consistent cash flow from your property AND you wish to have a home if you ever move back to Singapore?
Perhaps renting it out would be a better option. Either way, I have with me property experts that can help you with selling/renting of flats. DM me if you have any questions!
It's a toss-up in the current market conditions. It's been a buyer's market for resale flats for the past couple years (i.e., buyers are spoilt for choice, so if your unit doesn't stand out, it might be difficult to sell it).
That said, if you're willing to put in the necessary work before selling it, now might be the only time you have in the next few years. Most of the major financial indicators are that Singapore is headed for a technical recession, which would negatively impact property prices.
Zhi Cheng raises a good point though: if you're coming back from your overseas work in a few years, it might be worth it to keep the property so you have a place to stay.