24 Jan 2024
5 min read
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Frequently asked questions
About selling
You can sell your HDB flat once you have fulfilled the Minimum Occupation Period (MOP) which is typically five years, except for Prime Location Public Housing (PLH) flats and those bought under the Fresh Start Housing Scheme. However, do note that PLH will soon be replaced, and the wait-out period for Plus and Prime flats will be extended from 15 to 30 months. Most importantly, ensure that you have settled all outstanding mortgages before selling.
Start by registering for an Intent to Sell on the HDB Flat Portal. Next, decide if you’d like to sell the flat on your own or engage a licensed property agent for the sale. If you are unsure how or where to find a real estate agent, get started above with PropertyGuru’s Home Seller tool to find a suitable agent who can guide your sale effectively. Lastly, be sure to prepare all the necessary documents for the sale.
Generally, you cannot sell your HDB flat before the typical five-year Minimum Occupation Period (MOP) ends. However, waiver of exemption may be possible under special circumstances, subject to HDB’s approval.
To sell your private condo, determine a competitive selling price, and engage a licensed property agent for the sale. Use PropertyGuru’s Home Seller tool to find the right property agent to assist with marketing, negotiations, and paperwork.
You can generally sell your condo in Singapore at any time after purchase, as there is no specific MOP imposed on private condos. However, if you sell your condo within four years of buying it, you will incur Seller’s Stamp Duty (SSD).
HDB flats, including resale flats, can only be purchased by Singapore Citizens and Permanent Residents (subject to meeting HDB requirements), while foreigners can only rent HDB flats. Foreigners are allowed to buy private property but certain restrictions exist for landed properties.
About valuation and pricing
There is a wide selection of online tools available for estimating your property’s value.PropertyGuru’s valuation tool provides an accurate market estimate for your property along with insights on current market trends to help you make informed real estate decisions.
Yes. You can get free property valuation using the PropertyGuru home valuation calculator which provides accurate market estimates for your property.
About costs, taxes and legal matters
The SSD is payable if you sell your residential property within the minimum holding period from the date of purchase. For HDB flats bought after March 2017, SSD applies if it is sold within three years. For private residential properties purchased on or after 4 July 2025, SSD applies if the property is sold within four years.
SSD rates range from 4% to 12% for HDB flats and 4% to 16% for private properties, depending on how long you’ve held the property for. The SSD is calculated by applying the applicable rate on whichever is higher for the residential property in question: 1) selling price or 2) current market value.
No, you cannot use your CPF savings to directly pay for the legal or agent fees incurred when selling a property. CPF can only be used to purchase property and service mortgages. Legal or agent fees are typically paid in cash.
About market timing & trends
Market timing depends on a range of macro factors like interest rates, policy cooling measures, and property supply. To decide when is a good opportunity to sell your property, it is advisable to consult real estate professionals or review recent price trends using tools like PropertyGuru’s valuation tool which offers pricing insights for similar properties in the area.
The time it takes to sell a property in Singapore varies, depending on factors such as market conditions, location, and pricing. On average, it may take a few weeks to several months to secure a buyer and complete the transaction.
About property agents
Do your research thoroughly and look for licensed property agents with proven track records, positive customer reviews, and possess strong knowledge of the local market. Most importantly, the agent should be able to fulfil your needs and goals as a home seller to sell your property effectively. PropertyGuru’s Home Seller tool helps you connect with the right agent that meets your needs and with a proven track record.
Yes. In fact, it is best not to rush the process as finding the right agent can make all the difference. PropertyGuru’s Home Seller tool helps connect you with licensed property agents who can deliver on your goals, and allows you to compare personalised proposals so you can choose the one that suits you the best.
Yes, you can sell a property in Singapore without an agent, but it requires more direct involvement in marketing, negotiations, and paperwork.
Selling Your Home in Singapore? Here's What You Should Know
Thinking of selling your property in Singapore? Whether it's an HDB flat, condo, or landed home, the process can be overwhelming. There’s a lot to manage, from pricing and paperwork to viewings and valuations. But don’t worry, we’ll break everything down for you, especially if this is your first time.
Do I Need a Licensed Property Agent to Sell My Home?
You can DIY your sale. But should you? Unless you're absolutely confident in your knowledge of real estate, hiring a licensed property agent can make a significant difference. They'll take care of everything from pricing strategy and listings to viewings, buyer screening, negotiations, and all the paperwork. Plus, they'll give you tips to avoid costly mistakes along the way. Be sure your agent is registered with the Council for Estate Agencies CEA. You can verify their status on the official CEA website.
What's the Process of Selling a Property in Singapore?
Here is a straightforward step-by-step guide to what you can expect when you sell your home. From preparing to sell it to fielding offers and getting ready to sign the paperwork:
Benchmarks can be obtained from tools such as PropertyGuru's Home Valuation Tool and the URA's Private Residential Property Transactions page. If you're unsure, licensed property agents can provide advice based on similar sales and current market trends, especially if you want to sell a property in today's competitive market.
Alternatively, you can explore PropertyGuru's Home Sellers Tool, where you can compare and choose preferred agents based on your selling goals.
Step 1: Understand the Market & Your Property's Value
Start by researching recent home sales in your area to get a realistic idea of your property's market value. Setting the right asking price is crucial, you want to attract serious potential buyers without undervaluing your home.Benchmarks can be obtained from tools such as PropertyGuru's Home Valuation Tool and the URA's Private Residential Property Transactions page. If you're unsure, licensed property agents can provide advice based on similar sales and current market trends, especially if you want to sell a property in today's competitive market.
Step 2: Choose a Licensed Property Agent
If you prefer a professional approach, you may engage an agent who has experience in the sale of the type of property that you are selling (e.g, resale HDB flats and condominiums). Discuss the commission early; it is often around 2% for HDB flats and 1-2% for private homes.Alternatively, you can explore PropertyGuru's Home Sellers Tool, where you can compare and choose preferred agents based on your selling goals.
Step 3: Prep Your Home for Viewings
Declutter, clean thoroughly, and fix any minor issues before listing your property. High-quality photos can significantly boost your property's online appeal and attract more potential buyers.Step 4: Market the Property
Your agent will handle the listing and may also run online marketing to attract as many buyers as possible. This can include promoting your property on major platforms, leveraging social media ads, and tapping into their own network of ready buyers to increase exposure and interest.Step 5: Viewings and Offers
Negotiations will be conducted professionally, interested buyers will be vetted, and viewings will be scheduled. When you receive offers, you'll evaluate and choose the one that best meets your expectations.Step 6: Legal and Completion
Once a buyer exercises the Option to Purchase, the deal enters the legal phase. This includes conveyancing, stamp duties, and completing the sale, with help from your lawyer and agent.What Are the Costs Involved in Selling My Home?
There are no upfront fees to list, but here are a few things to keep in mind:
| Agent commission | Typically 1-2%, received only after a successful sale. However, agent commissions are negotiable as nothing is set in stone. |
| Outstanding home loan | If you have an existing mortgage on the house, you will need to pay off the remaining mortgage irrespective of whether it is an HDB loan or a bank loan. It’s important to assess your financial obligations early, and there are options such as a bridging loan, which can be used to fill that gap between what your new down payment will be and your proceeds from the sale. |
| Legal fees | Home sellers are required to engage either an HDB solicitor or a private lawyer to handle the legal paperwork involved in transferring ownership, which comes with legal fees that are often overlooked. The HDB Legal Fees Enquiry Facility is a useful tool to help you budget for this expense early on because the legal charge will be due after the resale application is completed and you are asked to endorse the papers on the HDB Resale Portal. |
| Conveyancing fees | When you engage HDB to do the legal work, you must take note that you'll have to pay some legal fees known as the conveyancing fee - which covers the manual work done for the preparation and handling of the legal transfer of the property. |
| Seller’s Stamp Duty (SSD) | Seller's Stamp Duty applies only when you sell your private home within three years of purchasing it. |
What Mistakes Should Home Sellers Avoid?
Here are a few common ones:
- Overpricing: Home sellers who set unreasonable asking prices may turn buyers off quickly.
- Underestimating paperwork: It's easy to overlook important paperwork like OTP, SSD, and completion timeframes. Missing out on any of these can delay the entire process.
- Neglecting presentation: First impressions matter. A clean, well-maintained home tends to sell faster.
- Poor timing: It’s important for home sellers to consider current market conditions before listing.
- Skipping an agent: While DIY may seem cost-effective, it can end up being more expensive due to potential missteps.
Should I Sell Before I Buy My Next Home?
For home sellers who require monies from their existing transaction to fund their next purchase, selling first is often the more practical choice. On the other hand, if you have solid financing options, buying first can ease the pressure, allowing you to avoid settling for a lower offer just to speed things along. Either way, it’s important to plan carefully. If time is of the essence, you may want to start considering a bridging loan that could assist you to bridge the gap, especially if you’re in a hurry to sell your property in Singapore.
Selling Your Property Doesn’t Have to Be Hard
Selling your property in Singapore can be straightforward, if you know what to expect. Find a licensed property agent, understand your timeline, and put your house on the market for the right price. PropertyGuru’s Home Sellers tool connects you to trusted agents and gives you tools to track your sale every step of the way. Ready to kick off your selling journey? Get started by connecting with a licensed property agent today and have your listing featured on PropertyGuru!