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The Silver Housing Scheme is designed for buyers aged 55 and above who are looking to rightsize from a larger unit with an annual value not exceeding $31,000 to a 3-room flat or a smaller unit. This scheme allows them to bypass the waiting period typically required. However, it's important to note that buyers will need to make a top-up of $60,000 to their Retirement Account. Given your current circumstances, you'll need to wait another year to qualify.

Navigating a property transaction can feel overwhelming, especially when it intersects with major life events.
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Hi

My understanding is that upon both of you reaching 55 years old, you can purchase resale hdb 4-room size and below types immediately and can apply the HFE letter. Need not wait further to apply. May I know when would both of you turn 55 years old?

Also do you need your CPF refund from the sale and use it for the next property purchase? If so, upon turning 55 years there are restrictions on the cpf usage as part of the OA will go to the RA to meet the full retirement sum. Hence it will be good to do some planning prior to the sale to confirm the optimal approach to make the right sizing work for you.

For question 2) as it is not a guarantee yet, we should not bank on it and it might also come with conditions so best to assume it will still be in place for the next 2 years.

Happy to discuss further on the phone to tailor the best approach for you and family.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 home-owners to smoothly complete their housing plans over the years. Please reach out to me at (65) 9 7 4 3 2 3 9 5 for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

Warm Regards,

Ivan Ng
ERA Senior Marketing Director
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-- HDB Toa Payoh 5-RM Sellers of Million-Dollar HDB, Mr. & Mrs Leong

We were fortunate to have met Ivan Ng. He was thorough in going through what the complicated home-selling process required of us and more so in understanding what we would like to achieve from the sale of our unit. His responsiveness and assurance, was a trait that we really appreciate. We managed to secure a sale that exceeded our expectation with Ivan’s advises. The offered price for our unit was a record set for the flats in the neighborhood. This was definitely supported by the fact that Ivan’s listing of our unit was detailed and stood out from other listings. Because of this, we also engaged Ivan's service to help us search and buy our new resale home. After some searches and viewings, we managed to secure one at a reasonable price with his help. With Ivan’s cheery and positive demeanour, selling our unit to procuring a new one, was a smooth journey for us. It was a pleasure to have worked with him.

-- HDB Executive Maisonette Sellers, Mr & Mrs Yeo --

Before contacting Ivan Ng, our Property Realtor, we were quite apprehensive about our Contra-deal ( concurrent resale & purchase of HDB flats) as at that time the outlook of the resale property market was quite sluggish & pessimistic. But surprisingly our property realtor, Ivan , was able to put us at ease with his professional competence, astute work experience & friendly nature . He was able to consummate our contra-deal within one month of our HDB application. Now we are convinced by his promise that (in Ivan's own words) ... "A contra-deal is where the sale & purchase transactions are done concurrently and completed on the same day. This results in a seamless transition of the funds from your sale proceeds and CPF proceeds tow Read More