AskGuru Q&A Community

Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi, this is a very thoughtful move to plan ahead for your parents, and fortunately the rules for right-sizing are quite clear.

1) Resale levy?
No, they will not need to pay a resale levy if they sell their current flat and buy another resale flat.

Resale levy only applies if someone has taken a subsidised flat from HDB before (BTO, SBF, DBSS, EC) and later buys another subsidised flat.
Since your parents bought their flat in 1997 on the resale/open market (most cases), and they are buying another resale unit, resale levy does not apply.

2) Schemes or support for seniors
Yes, there are a few common options seniors consider when right-sizing:
• Silver Housing Bonus (SHB)
For eligible seniors who sell a larger flat and buy a smaller one, and top up part of the proceeds into CPF Retirement Account. This gives a cash bonus.
• Lease Buyback Scheme (LBS)
If they prefer to stay put instead of moving, they can monetise part of the remaining lease while continuing to live there.
• Proximity Housing Grant (PHG)
If the new 3-room flat is near you (within 4km), they may qualify for grant support.
• Enhanced CPF Housing Grant (EHG)
Usually more relevant for working-age buyers, but depends on household income and eligibility.

For seniors, SHB and LBS are the two most commonly explored.

3) Can they use full sale proceeds for the next flat?
Yes, generally they can.

When they sell the current flat, the proceeds will be used in this order:
1. Refund any CPF used (plus accrued interest) back into their CPF OA
2. Remaining amount becomes cash proceeds

Both the CPF refunded and cash can be used to pay for the resale 3-room purchase.

If the sale price is close to or higher than the next flat’s price, they may even be able to buy with minimal or no loan, depending on CPF refunds required. Read More

Good day to you.

Since you’re looking for a clear and straightforward response, here are the details you need:

a) Under the Silver Housing Scheme, your parents can qualify for a grant of up to $40,000, as long as they deposit $60,000 into their Retirement Account when they downsize to a 3-room resale HDB flat.

b) They won’t need to pay a Resale Levy for their upcoming purchase of the resale 3-room flat. Additionally, if they choose a location near their child, they’ll be eligible for the Proximity Housing Grant.

c) Regarding your final question, we will need to contact the CPF Board to request approval for transferring the CPF funds from their current unit to the upcoming purchase. It’s crucial to tackle the following factors before making the move, such as covering legal and stamp duty costs, ensuring they meet the Basic Retirement Sum, and addressing the chance that they may not secure a housing loan.

How about we connect and work through the plan together?

Navigating a property transaction can feel overwhelming, especially when it intersects with major life events.
With over 15 years of experience as a property consultant, my role goes beyond market knowledge — it is to provide clarity, structure, and peace of mind through complex decisions.

I regularly assist clients with sensitive and non-standard situations, including:
• Divorce & Asset Settlement — guiding parties toward fair, practical outcomes for shared properties
• Intestate & Estate Planning — helping families navigate inherited property and future planning with confidence
• Complex Property Matters — including cases involving Lasting Power of Attorney, bankruptcy, or special circumstances

If you’re seeking clarity rather than pressure, I’m happy to have a conversation to understand your situation and outline possible next steps.

Mike Lim
CEA Reg No: R026708F | ERA
WhatsApp: https://wa.me/message/VCDD3MUYRD3JP1
Email: m52i@yahoo.com

If you’d like short, educational breakdowns on common property questions, you may also find these helpful:
YouTube: https://www.youtube.com/@SGHomeCompass
Instagram: https://instagram.com/SGHomeCompass Read More

Hi
For resale levy, we are able to write in to double check before proceeding. It depends whether they had taken the grants before and their next purchase whether is BTO or resale HDB.
Looking forward to assist you at WhatsApp +65 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart
PropNex Senior Associate Division Director Read More

Hi

There is no resale levy if you are getting a resale flat. It only applies when you get your 2nd subsidized housing (ie. New BTO from HDB), and when your parents already have enjoyed housing subsidies once.

For seniors in their scenario, the silver housing bonus may apply to them.

https://www.hdb.gov.sg/residential/living-in-an-hdb-flat/for-our-seniors/monetising-your-flat-for-retirement/silver-housing-bonus

You can read up more here, especially through the tab example of right sizing to resale 3 room flat. If their current 4-room flat is not subsidized flat, they may be eligible for first timer grants as well.

If they have not met the retirement sum amounts relating to their cohorts in their RA, they may have to set aside part of the CPF refund from the sale to meet that. To confirm the amount, you will have to write in on their behalf to cpf board the amount of refund needed (if any) upon sale.

The sale proceeds definitely can be used to port over for the next flat, should they choose to do so.

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. Please reach out to me at 97432395  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 Realtor
ERA Senior Marketing Director
ERA Multiple Diamond Achiever

SIEA's Salespersons Achievement Award (Platinum) 2025
SEAA Salesperson Achievement Award (Gold)
SEAA Singapore Accredited Mortgage Planner (SAMP)

ERA Top 226th Achiever in 2nd Quarter 2025 (Top 3% Company Level)
ERA Top 11th Achiever in Feb 2024 (Top 1% Company Level)
ERA Top 64th Achiever in March 2024 (Top 1% Company Level)
ERA Top 37th Achiever in Oct 2023 (Top 1% Company Level)
ERA Top 93th Achiever for Full-Year 2020 (Top 1% Company Level)

SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

Contact: (+65) 97432395 
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
FB: fb.com/IvanNgRealtor
W: https://propertyportal.era.com.sg/agent/detail/R052114D
(Client's Testimonials)
CEA: R052114D

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

- HDB Executive Maisonette Sellers to resale 3-room, 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 towards your purchase price." More importantly Ivan has also managed to clinch a good deal for our contra-deal. We'll certainly recommend him to our kins & friends. Thank you very much, Ivan. We are definitely your satisfied customers!

-- 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 Read More

They may also be eligible for Proximity housing grant, if the flat they purchase is within 4km of their children's property Read More

It is great that you are thinking through the various options for your elderly parents!

While some agents might pressure your parents to sell and pitch that it is a great idea to transition because of the market movements or grants etc, you might want to first take a step back to consider what is the purpose of the move.

The short answers to your questions:
1) No resale levy if they do not buy a second subsidized flat

2) There are special grants and subsidized housing options as you noted, but taking this option might conflict with (1) if they end up choosing a subsidized housing option, which would trigger the resale levy.

3) Generally no issue to use the sales proceeds to pay the next home, but there restrictions on CPF usage that would likely apply to your parents because of the nature of the flat they are selling and buying next.

-----

I'm a Harvard graduated real estate agent with a degree in economics, and I have a decade of experience working on Singapore public policy.

There are many factors that go into a property transitions like this for an elderly couple. I would love to schedule a free consultation to discuss the various considerations and options if you need any support!

Feel free to reach out via whatsapp or email below and happy to discuss further.

Kay Cloud
The Harvard Educated Agent
Propnex Realty Pte Ltd
cloud@propnex.com
Tel: (+6.5.) 8.5.6.7.4.5.8.5
Whatsapp -> https://wa.me/6585674585 Read More

Resale levy is only applicable if the owners are purchasing a 2nd subsidised flat therefore you will need to check the history of their ownership. As for any grants for them, it is best to apply for HFE to find out more about their eligibility, As for finances, we will need to look into the final numbers, on top of the CPF monies utilised and available for use to determine if the proceeds from sale can be used directly for the purchase.

——

I have been in the real estate business since 2009, with more than 15 years of experience serving the Singapore real estate market. Check out the EdgeProp featured article on myself recently at https://www.edgeprop.sg/property-news/geryl-lim-leading-landed-real-estate-heart-hustle-and-harmony

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 15,900 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
Deputy Branch Associate Director
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
 +65 92787772 
www.geryllim.com

My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

-----

Note: We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value. Restructure your portfolio with us, speak to us!

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

Visit and Like my facebook page at https://www.facebook.com/GerylLimSince2009/ - Aspiring To Be The Best Real Estate Agent In Singapore

Pick up knowledge, skills and Real Estate concepts at https://www.facebook.com/RealEstateXcellence/

New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/

-----
Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ http://l.ead.me/7772 Read More

Hi Sir/Mdm,

They are not required to pay any resale levy because resale levy is only applicable if they purchase a BTO. For resale flat, they are able to apply for proximity housing if they are moving to live within 4km from their children.

After the sale, they will be able to use their cash proceeds to purchase their next flat. As for their CPF, we will need to see whether they can fulfill their RA before using the rest. Usually I would accompany my clients to CPF board to confirm the numbers as part of the planning process.

I have assisted many of my elderly clients to downsize to smaller flats. Please feel free to contact me so that I can give you an overview of the sale and purchase process so that you can have a better idea.

Regards,
Nick Tan
(M) +65 96 44 48 54
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

SEAA Salespersons Achievement Platinum Award 2020/2022/2023/2025

WhatsApp: https://wa.me/qr/X6VRPGSSIHN5D1

Visit my website to get to know me better:
www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

Testimonial from my Clients

I would like to express my sincere appreciation for the excellent work you have done in managing both the sale and purchase of my condominium.
Throughout the entire process, you demonstrated strong market knowledge, professionalism and attention to detail. Your clear guidance at each stage — from pricing strategy and marketing, to viewings, negotiations and completion — gave me confidence and made what could have been a stressful experience very smooth and well managed. I am especially grateful for the way you coordinated the timelines between the sale and the new purchase, ensuring everything proceeded seamlessly. Your responsiveness and willingness to address my questions promptly were greatly appreciated. Thank you once again for your dedication and support. I am very pleased with the outcome and would be glad to recommend your services to others seeking a reliable and professional housing agent.
Jane Chng (Homeowner and Investor) 2026

Nick is THE absolute best agent, guide to navigating the property market in Singapore. From selling to buying, he manages to get the absolute highest when selling and negotiators to the absolute lowest when purchasing. (So double win for me!). In fact, I bought my new home at the absolute lowest transaction across all the transacting homes. Most agents would just give vanilla advice, he puts scrutiny into every potential choice we were making by advising potential gains, rental yields, back up plans. I think we went through a whole list of more than 20 + before narrowing down to a few high potential properties! Super responsive to our questions and handheld us through the process and even answered questions in the middle of the night. Would absolutely recommend working with Nick for anyone looking to buy, sell or just advice!
Kenneth (Seller and Buyer) 2025

Nick was introduced to me by a friend who learned that my previous property agent wasn’t meeting my expectations. During our first phone call, Nick quickly grasped my concerns and provided a detailed financial plan the next day. Since switching to Nick, selling my house has been much more relaxed. His virtual tour and informative fact sheet eliminated the need for my family and me to be constantly present for viewings by unsuitable buyers.
Nick was invaluable in purchasing my next property. He sourced units within my budget and analysed price trends of condo projects I was interested in. With Nick’s assistance, the buying process was seamless, and he expertly coordinated the sale of my current unit with the purchase of the next. Kudos to Nick for his outstanding service and advice!
Eileen Chen (Seller) 2024

During Nick’s presentation to us, he showed confidence and resourcefulness. He showed us his various methods of reaching out to potential buyers instead of just relying on Propertyguru. He also saw the po Read More

I would be glad to assist you.
Feel free to contact me at wa.me/6597100155
Hope to hear from you soon.
Pei Mobile: (65) 9 7 1 0 0 1 5 5.
Email: peicheng.tan@propnex.com
Associate Group Director
Propnex Realty Pte Ltd Read More

Hi Do contact me at 97970200  to understand more and discuss.

Mark, your RIGHT choice
Propnex Read More

Hi,

1) No resale levy when buying another resale HDB flat.
2) There are current 2 grants that support downsizing to a 3-rm or 2-rm flat:
(a) Silver Bonus scheme subsidized $40k for SC at 55 or above for the purchase.
(b) Proximity grant subsidized $20k for the purchase.

3) The propability of using the full sale proceeds to pay for purchase is high provided as below:
(a) Similar location as current, same estate or more outer urban.
(b) Proximity to transportation (MRT/bus interchange), amenities, and prestige primary school are similar to current.
(c) Conditions of the unit are similar.
4) A simple phrase explain the above; apple for an apple.
5) Due to the eligibility of the Silver Bonus Scheme required a top-up of $60k (together) into their retirement account.
It is important to find out how much fund will be returning to their CPF RA account.
6) Any excess apart from the $60k needed for the Silver Bonus Scheme can appeal to be used for the new purchase.

All The Best!!!

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

Note:
Any response to our answer does not reach us until we scroll through each and every query posted daily.
The best way to get a follow-up is to Whatsapp or email us directly. Read More

(✔1) Resale levy clarity
If your parents sell their current flat and move to another resale HDB, there is no resale levy. The levy only applies when someone buys a subsidised flat again after previously enjoying one, which does not apply here.

(✔2) Right-sizing options for seniors
Seniors often look at a few practical paths:
The Silver Housing Bonus rewards those who downsize and top up their CPF Retirement Account.
The Lease Buyback Scheme allows them to stay put while unlocking part of the flat’s value.
Grants like PHG may apply if they move closer to family, while others depend on income and eligibility.

(✔3) Using sale proceeds for the next home
After selling, any CPF used will be returned to CPF first, and the balance becomes cash. Both CPF funds and cash can be used for the next resale purchase, potentially reducing or even removing the need for a loan.

Do what is necessary, and life will find its balance.
Lao Tzu
(✔1) Resale levy clarity
If your parents sell their current flat and move to another resale HDB, there is no resale levy. The levy only applies when someone buys a subsidised flat again after previously enjoying one, which does not apply here.

(✔2) Right-sizing options for seniors
Seniors often look at a few practical paths:
The Silver Housing Bonus rewards those who downsize and top up their CPF Retirement Account.
The Lease Buyback Scheme allows them to stay put while unlocking part of the flat’s value.
Grants like PHG may apply if they move closer to family, while others depend on income and eligibility.

(✔3) Using sale proceeds for the next home
After selling, any CPF used will be returned to CPF first, and the balance becomes cash. Both CPF funds and cash can be used for the next resale purchase, potentially reducing or even removing the need for a loan.

Do what is necessary, and life will find its balance.
Lao Tzu Read More