The tried and true way of getting a condo is to start with an HDB BTO flat, save every penny you can, and eventually sell it for a tidy profit and move up to a private condo; or at the very least an EC. But with private home prices higher than ever these days, does the old method still work? We took a look at the realities of upgrading to a condo, in the 2024 Singapore property market. Disclaimer: Since we’re at the start of 2024, we’ll be relying on 2023 prices to determine private property affordability. Edit: Article updated to reflect the MSR usage for the purchase of new Executive Condominiums. Scenario 1: Upgrading a three-bedder Most HDB upgraders are families, so they have no use for shoebox apartments or small two-bedders. As such, it is fair to say that they will need at least a three-bedder condo unit, which is typically in the 900 to 1,100 sq. ft. range....