HDB Resale Flats

The resale of HDB flats is highly regulated by the government and rules are subject to change without prior notice.

Here is a summary of the eligibility rules:

• You must be a Singapore citizen or a Singapore Permanent Resident (SPR);
• Non-Malaysian SPRs may buy a flat 3 years after obtaining their residency status (you may still be eligible if you are buying with a Singapore citizen);
• You must be at least 21 years old (35 years old on some cases);
• You must fit into one of the available schemes (married couple, fiancéd couple, single of more than 35, family, orphan, conversion). Follow the link for all the details;
• Once you have found your scheme, you can make sure of your eligibility for the flat you like by using this e-service. It will tell you if your application is likely to be approved.

Financing is then a very important part of the buying process:

• You will need cash for the deposit of up to S$ 6,000 (Option Fee + Option Exercise Fee) + at least 5% of the valuation price of the flat. Be careful since you might need much more cash than this (mainly because your situation imposes stricter borrowing limits or because of the COV - Cash Over Valuation);
• You will be able to borrow from 40% to 80% of the valuation price from a Singapore bank or up to 90% from the HDB directly if you meet these conditions;
• You will be able to use the money from your CPF ordinary account for the remaining amount;
• You might be eligible for a CPF housing grant;
• You should get the bank's Letter of Offer or the HDB Loan Eligibility Letter, depending on your situation.

More details about financing can be found here.