From A S$565,000 Flat To A S$1,400,000 Condo: The Q2 2026 Numbers, Three Ways

This is an illustrative example on the quarter's median prices and a stated household, not a real family and not advice on whether to sell, buy, keep or rent out. It lays out the figures the position engine computes for each side of the question; the decision is the reader's.

In this article, we look at three sides of one example. The first is selling a 4-room flat in Bukit Panjang. The second is buying a 60 to 99 sqm private unit in District 23. The third is keeping the flat and renting it out.

The flat was bought in Q2 2020 at that quarter's median of S$418,500 with a 75% HDB loan. Its median is S$565,000 in Q2 2026, from 87 sales, based on HDB resale data from data.gov.sg. That is a move of +35.0% over six years. The District 23 median of S$1,400,000 comes from 57 recorded sales in URA Data Service caveats.

What Selling The Flat Would Net

The first side is the sale. Our engine works from the quarter's medians, the original loan and standard selling costs.

The table below shows the median moving from S$418,500 to S$565,000, a change of S$146,500. The 75% HDB loan taken was S$313,875, and the balance after six years is about S$255,979.

Selling costs for agent and legal work come to S$15,587. Seller's stamp duty is S$0 at this holding period. That leaves net proceeds of about S$293,434. Note that both medians are from recorded resale transactions, not a valuation of any one flat.

What The Condo Costs To Buy

The second side is the purchase. The figures below assume the flat is sold first, then the private unit is bought as a first home.

Buyer's stamp duty is S$40,600. The maximum loan is S$890,722 at 75% LTV, set here by the mortgage servicing ratio. Minimum cash is S$70,000, with S$439,278 in CPF or cash on top. That is S$549,878 needed before the loan.

Set against the S$293,434 from the sale, the table shows a shortfall of S$256,444 to find elsewhere. The order matters too. Buying before the flat is sold would add ABSD at 20%, or S$280,000, under the rules as recorded. Remissions are not modelled here.

How The Monthly Instalment Changes

The third figure a household feels is the monthly payment. The table below sets the flat loan beside the condo loan at 3% over 27 years.

The instalment moves from about S$1,424 to about S$4,014, a difference of S$2,591 a month. At the 4% test rate, the condo instalment is S$4,500 and the flat instalment is S$1,605. The test rate is a check on affordability, not a view on where rates go.

Holding the condo for five years would cost S$227,345 in all, of which S$125,301 is interest. On those assumptions, the price would need to rise 16.6% to cover that cost.

What Renting The Flat Out Would Earn

The other side of the question is keeping the flat. The rent estimate below comes from 58 recorded rental approvals on data.gov.sg.

Estimated rent is S$3,100 a month, a gross yield of 6.6%. Property tax at the non-owner-occupied rate is S$1,562 a year, and maintenance is S$900. After vacancy, tax and maintenance, net rent is S$31,650 a year.

The loan still runs, at S$6,655 of interest a year. That leaves a net carry of S$24,995 a year, or 4.4%. A rent estimate from 58 approvals is an indicative figure, and the mix of units behind it can shift from quarter to quarter.

Summary

At Q2 2026 medians, the flat side of this example nets about S$293,434 after a loan balance of S$255,979 and S$15,587 in selling costs. The condo side needs S$549,878 before the loan, with S$40,600 in buyer's stamp duty and a maximum loan of S$890,722. The monthly instalment moves by S$2,591. Keeping the flat instead gives an estimated S$3,100 a month and a net carry of S$24,995 a year.

These are medians from recorded transactions and rental approvals, and tax figures from the rules as recorded at the time of writing. They cannot tell you what any particular flat or unit would fetch, or how a specific lender would size a loan. Sales counts here are small in both markets, 87 for the flat and 57 for the condo, so the mix of units behind each median matters.

Method: the flat is a 4-room in the town, bought at the median of Q2 2020 with a 75% HDB loan at 2.6% over 25 years, of which 6 years have been paid. Its value today is Q2 2026's median. Selling costs, seller's stamp duty, equity, the rent estimate and the carry are the position engine's under the rules recorded as in force. The condo is a 60 to 99 sqm resale in the nearest district with enough sales within 2.5 km of the town. It is taken at Q2 2026's median. The buyer is a citizen aged 38 with a household income of S$15,000 a month and no other debt. sale at today's indicative mid value after 5 years. Seller pays 2% commission and S$3,000 legal fees, plus 9% GST. Mortgage interest from a standard amortisation schedule at the given rate. An executive condominium within its five-year minimum occupation period, so the 30% mortgage servicing ratio applies as well as TDSR. Loan of S$890,721 (64% of the price), the maximum available. Property tax on an assumed annual value of S$36,720 (85% of market rent). Maintenance at the configured norm. Rates are versioned data in config/rules.yaml, checked against IRAS and MAS publications on 2026-09-18. The newest version applied here took effect 2025-07-04. Rules change with each cooling-measure round. Private figures are from URA Data Service caveats, HDB figures from data.gov.sg resale records, both loaded weekly by this site's ingest. Medians are of the non-excluded transactions in the period named. Sales flagged by the hygiene rules (related-party transfers, bulk deals, outliers) are left out. Every figure is indicative and drawn from recorded transactions, not a formal valuation.