The HDB has removed a hurdle for upgraders by scrapping a resale levy that executive condo (EC) buyers who already own HDB flats have to pay.
ECs bridge the price gap between HDB flats and private homes. Private home prices rose 22.9 per cent in the first nine months of the year - more than twice the rate achieved by HDB flats.
ECs are more attractive now because prices of condos in the suburbs - where they tend to be sited - have started to move up significantly.