Singaporeans must not sell their HDB flats
This is a serious call. Never, never sell your HDB flat! Yes it will appreciate in value at the way things are moving. But that is not the main concern. Many Singaporeans think that they could reap a handsome profit by selling their flats, maybe a couple of hundred thousand which could buy them the new car, the holidays, that new wardrobe or to splash around for a while with the new found wealth. This call may come too late for some who had already done that and live to regret it. The problem is that once the flat is sold, even with the same money untouched, will not be able to buy another similar. The price would have run away. And how could those who splurged on their profits and ended up with lesser money in their CPF afford another similar flat? The only people that may think of selling for a quick profit are those that already have alternative accommodation and have no need to buy another flat. On the other hand, those whose incomes are increasing substantially may want to sell and upgrade, assuming they could afford better housing. Once again, those who are thinking of a quick profit to feel rich for a while, better not try. There is no turning back and you will only be worst off than before. That's how some ended up living in the parks and beaches.