According to JLL, the number of HDB upgraders moving to condos is currently up over 21 per cent from last year. The idea of a condo-buying spree, in the midst of a pandemic, seems worrying; and perhaps it should, given the steadily rising prices we’ve seen over the past nine months. At the current prices, it’s possible that some HDB upgraders may be overreaching: A quick explanation of the real estate market in 2021 For those who haven’t been following the property market, it can be hard to digest how high prices have gotten. Here’s a quick snapshot: From January to October, prices have risen in both the HDB and condo markets. The average condo, islandwide, costs around $1,705 psf, while resale flats average $500 psf. This puts condo prices roughly 20.7 per cent above the last peak in 2013; and recall that in that year, we saw the start of several rounds of cooling measures to bring the price back down....