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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