3 Jul 2018
If you have plans to sell your HDB flat, do ensure that you have fulfilled the Minimum Occupation Period (MOP) first. There’s also the Seller’s Stamp Duty (SSD) for residential properties and residential lands you have to consider too.
Once you have decided about selling, here are some factors to consider before you set the price:
1. Location
Is the property located nearer to the city centre, secondary commercial hubs or transport hub which may command a higher price due to prestige, the possibility of higher resale value or convenience? Are there upcoming newly completed projects or MRT stations which buyers might be attracted to and affect their interest in your unit?
2. Size
What is your target audience? Is your property more suitable for investors or for families? Their needs and preferences differ for floor area, the number of bedrooms and baths, which will affect the purchase price. Some may select a bigger unit due to the spaciousness or the plans to have more children.
You can always check out the latest transaction prices on the Housing and Development Board and Urban Redevelopment Authority websites for public housing and private housing respectively for a rough gauge.
3. Age
Is your property on 99 years leasehold or is it a freehold? The age of the property also has an impact on prices. Is your property ready for immediate occupation with minimal renovation work required? If the potential buyer could have cost-savings on rent or renovation, these will affect negotiations for the right price too.
If you have strong emotional attachments for your home, you could consider selling property with help from property agents. Find the right property agent with experience in specific areas of your choice: Find best property agents at your location.
View past transactions statistics, customer reviews, awards achieved, and trainings completed by agents on FindPropertyAgent.sg so you can make more informed decisions. Powered by ERA.
