In recent times, there are many ads on Facebook, on property forums, on developer residential condo launches, how one can profit from buying properties, or specifically, ECs, and have it as an asset in which you could cash in to retire. Specifically, sell and downgrade to a HDB and retrieve cash for retirement.
The question is, in terms of financials, is this really a much better move?
So I decided to do a theoretical exercise on how this really works out. As there are multiple variables involved for different people over different time period, I decided that since this is my blog, I shall take myself as an example, on my own scenario 7 years ago and how it may pan out. Specifically, back to HDB vs Esparina condo again. To simplify matters, I will set some variables for my theoretical exercise. Starting amount for property = $160k. That was approximately the...