ASSET PROGRESSION

Asset Progression is a process where you can upgrade or own 2 or More Properties based on your income and sales proceeds that you can get from the sale of your Current Property.
Asset Progression helps you to own multiple properties without breaking the bank. It also allows you to acquire Assets that you can pass down to your Children as a Legacy or Retire Comfortably when the time comes.

Asset Progression can be done in the following ways;

1. Buy a Private Residential Property while holding on to your Current HDB or Private Residential Property.
This can be a little costly, but if you have enough income to sustain and enough savings to buy the next one, it is entirely possible.
You may face Difficulties in getting a 75% loan if you still have an outstanding loan with your current property. And Definitely slapped with an Additional Stamp Duty (ABSD) for purchasing the 2nd and subsequent properties. This may not be recommended for first time upgraders who may not have enough savings.

2. Sell Your Property to Upgrade to a Private Property or EC.
This is the most popular upgrade option preferred by Singaporeans, as this is the simplest and the safest FIRST step to owning multiple properties in the future. Selling your HDB which can allow you to leverage to Bigger and better property investment that can help you in the future to cash out to purchase more properties or just pass down to your Children.
After Selling your HDB, you upgrade to a Private Property for Investment for a better asset gain. Usual option will be selling your HDB and Purchase a New Launch Condo. This will enable you to benefit from the low entry price that has better potential leverage than any other options.
eg. Couple Sells HDB > Buys New Launch Property at the lowest PSF and Sells in Future for a much higher gain, and upgrade to a bigger or even buy multiple units.

3. Sell Your HDB Property to buy 2 Properties. (or De-couple to own 2nd Property)
This is the second most popular option by Singaporeans and also the fastest way to own Multiple properties.
In this process, a Singaporean Couple will sell their Property for e.g. HDB and buy 2 Different properties under each of the couple's name. Eg as follows
Couple Sells HDB > Husband Buys 3 Bedroom for family to stay > Wife Buys a Studio or Commercial to rent out as subsidiary income.
or
Couple De-couple the property (usually for Private Property)
Wife sells share to Husband and exits her name from 1st Property > Wife Buys Second Property for Investment
In this way couple avoids ABSD 

Note: all these options are subjective to owner's eligibility of their income, finances and also the sales proceeds of the selling house.

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