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Good morning,

Care to share how young are you?

Just to share private property owner have to dispose their interest in private property first and observe 15 months waiting period before they can buy a resale HDB based on cooling measures on 30 sept.

Unless you are 55 years old and above, the above rule wont be applicable but you can only purchase up to a 4RM flat.

If you are able to take a loan for your purchase, possible costs will be as such:

- downpayment inclusive of $5k option deposit (20% for HDB loan; 25% for bank loan)
- $120 valuation fee
- $80 resale application fee
- legal fee
- agent commission (1% of purchase price plus GST)

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
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Good morning,

If you are a private property owner (even if this case, a share of the ownership) below 55 years old, you will need to wait out 15 months after disposing/transferring the share ownership before you are eligible to purchase the resale HDB. For new BTO/new EC application, the wait out period will be 30 months.

You will have to appeal to the HDB to try to waive away this wait out period. HDB will review on case by case circumstances basis, and there may be a chance since this property was inherited.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
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Yes, basing on existing regulation, you will need to wait out 15 months if you are thinking of purchasing a resale HDB. You may purchase a resale 4 room HDB or smaller unit if you are 55 years old or above.

Cost associated are quite straightforward and will depend on your loan eligibility too.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
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Hi,

1) The recent cooling measure implemented (30th Sep 2022) was specifically for people who owned private property.
2) It covered all aspects regardless of the number of shares owned in the private property.
3) Therefore you will have to observe the 15-month wait-out period before eligible to buy a resale HDB flat.
4) You also must satisfy one of the eligibility schemes listed on the HDB website on top of the 15-month wait-out period after selling.
5) You may gift your share to your mum. Your mum will still be subject to the gift stamp duty rate equivalent to the buyer stamp duty rate.

6) Hereby provide an estimation of the cost incurred for a $500k purchase using a bank loan:
(a) Down payment 25%: 5% must be in cash ($25k), 20% can be in cash and/or CPF ($100k) assuming you can get a 75% loan.
(b) Buyer stamp duty ~3%: $9.6k
(c) Valuation report: $120
(d) Resale application: $80
(e) Home protection insurance: You will need to have this as long as you utilize funds in CPF. The premium shall depend on the loan amount, age, and which bank you are taking from. The bank will decide which insurance company you will be getting from.
You may get an estimation from this:
https://www.cpf.gov.sg/esvc/web/schemes/homeprotectionschemepremium/homeprotectionschemepremiumlanding
(f) Miscellaneous: Read More