Last updated: 10 Oct 2025 • by CondoListing.sg
For many Singaporeans, upgrading from an HDB flat to a private condominium is a major life milestone. But is it really worth the leap? In this 2025 guide, we break down the financial, lifestyle, and long-term considerations to help you decide wisely.Contents
- 1. Key Differences Between HDB and Condos
- 2. Reasons Singaporeans Upgrade
- 3. Financial Realities: How Much More You’ll Spend
- 4. Grants, Loans & Restrictions
- 5. When Upgrading Makes Sense
- 6. FAQ
1) Key Differences Between HDB and Condos
At first glance, condos offer better facilities and exclusivity, but both housing types serve very different buyer profiles. Here’s how they compare:
| Feature | HDB Flats | Private Condos |
|---|---|---|
| Ownership | Public housing under HDB | Privately developed and owned |
| Eligibility | Citizens/PRs only | Open to citizens, PRs, foreigners |
| Facilities | Basic (playgrounds, void decks) | Swimming pool, gym, security, clubhouse |
| Financing | HDB or bank loan | Bank loan only |
| Tenure | 99 years | 99 or freehold |
For more on ownership types, see our leasehold vs freehold guide.
2) Reasons Singaporeans Upgrade
- Lifestyle: Access to pools, gyms, and gated security.
- Privacy: Fewer neighbours and better sound insulation.
- Investment: Condos generally appreciate faster in prime districts.
- Status symbol: Many see condo ownership as an achievement milestone.
To get a taste of condo life, check out life in a Singapore condo.
3) Financial Realities: How Much More You’ll Spend
Upgrading means higher upfront and ongoing costs. Here’s a quick breakdown:
- Downpayment: 25% minimum (5% cash, 20% CPF/cash)
- Buyer’s Stamp Duty (BSD): 1–6% depending on price (IRAS rates)
- Monthly loan instalments: Usually 2–3× higher than HDB loans
- Maintenance & MCST fees: $300–$600/month (vs $100–$150 for HDB S&CC)
- Property tax: Private rates are higher for owner-occupied condos
See our guides on how much cash you really need and hidden costs of condo ownership for full breakdowns.
4) Grants, Loans & Restrictions
When upgrading, you’ll lose access to some HDB subsidies. Key points:
- No more HDB housing grants once you buy private property.
- Must sell HDB within 6 months after buying a private home (HDB sale rules).
- Financing is stricter — subject to MAS TDSR (55% of income).
If your income is within $16,000/month, you may still consider Executive Condominiums (ECs) as a middle option.
5) When Upgrading Makes Sense
- You’ve built sufficient equity from your current HDB sale.
- You have stable income and buffer for emergencies.
- You value privacy, facilities, and potential appreciation.
- You’re prepared for higher maintenance and property tax.
Before taking the leap, read our complete condo buying guide to plan your finances smartly.
6) FAQ
Can I keep my HDB and buy a condo?
Yes, but only if you’re a Singapore Citizen who has fulfilled the 5-year Minimum Occupation Period (MOP) and you buy the condo after that. PRs must sell the HDB within 6 months.
Is upgrading to a condo a good investment?
It can be — especially for condos near MRTs, schools, or future growth zones. But always factor in long-term holding power.
Should I consider an EC instead?
ECs are a great middle ground — private living with government subsidies. See our full EC guide linked above.
How much should I earn to afford a condo?
As a rule of thumb, households earning $12,000–$20,000/month can comfortably finance mid-tier condos. Use our cash guide to estimate better.