The term asset progression refers to the selling of 1 class of asset and moving to another one. Think about it like climbing a ladder. Some people call this upgrading, but why is it important to have a clear asset progression strategy?
By growing your wealth through asset progression, it gives you many financial options later in life. Would you like to own 2 properties by the time you retire? Majority of Singaporeans dream of owning 2 properties in Singapore. 1 for own stay and 2nd property to achieve rental income. If you did not plan early or do not know how to go about doing it, this option will not be available to you once you retire.
Asset progression in Singapore is not something new in the real estate market. Neither is it a fancy word for a property agent to influence people to sell their homes and get another one. Some Singaporeans have successfully made use of asset progression to create their retirement fund, and live happily ever after.