Last Monday (August 29), there was an article in The Straits Times titled “Drop in appetite for private homes among some HDB owners”. It said HDB upgraders’ love affair with private properties has cooled in the first half of this year. According to URA’s data, buyers with HDB addresses only bought 3,649 new and resale non-landed private homes. The figure was down 26.2 percent from 4,942 in the first two quarters of last year. The drop was more obvious in new non-landed private homes sold by developers. A mere 975 units were purchased by HDB owners. It was 51.5 percent lower than 2,012 units sold during the same period in 2021. This is despite the fact that prices of HDB resale flats and private homes climbed 5.3 percent and 4.2 percent respectively. So why are HDB owners no longer keen to upgrade to private homes? The article cited last December’s property curbs and higher mortgage rates the two main causes behind...