Studio Apartments come in two sizes, on 30-yrs lease :
-35 square metres
-45 square metres
No resale levy is payable when buying SA
Eligibility Conditions
-Singapore Citizen
-at least 55 yrs old at the time of application
-You must include your spouse in your application
if unmarried/divorced/widowed, can be for own occupation
-Average gross monthly household income < $10,000
-If currently owns flat, MOP of 5 yrs is required
-If currently owns flat, must dispose of share in the flat within 6 mths of taking possession of the SA
-If currently owns private property, must dispose of share in property before taking possession of the SA
Note: HDB does not grant mortgage loans to SA buyers. The SA has to be paid in full when the buyer collects the keys
Saturday, February 25, 2012
Buying Of Flat by Private Property Owners
New Flat
As a private property owner, you cannot buy a flat direct from HDB. If you dispose your private property, you must wait 30 months before you are eligible to buy a flat direct from HDB.
HDB may consider granting exemption to exceptional cases based on the merits of each case.
Resale Flat
Private property owner would have to sell their private property within 6 mths from the key collection of their resale HDB unit.
As a private property owner, you cannot buy a flat direct from HDB. If you dispose your private property, you must wait 30 months before you are eligible to buy a flat direct from HDB.
HDB may consider granting exemption to exceptional cases based on the merits of each case.
Resale Flat
Private property owner would have to sell their private property within 6 mths from the key collection of their resale HDB unit.
HDB Resale Levy
A flat is considered subsidised, if you have bought it:
- Directly from HDB, or
- From the open market with a CPF Housing Grant
Each eligible family can purchase up to a maximum of 2 subsidised flats, in other words, enjoy 2 housing subsidies
Resale levy is payable if you are buying a 2nd subsidised flat
Amount Payable :
- Directly from HDB, or
- From the open market with a CPF Housing Grant
Each eligible family can purchase up to a maximum of 2 subsidised flats, in other words, enjoy 2 housing subsidies
Resale levy is payable if you are buying a 2nd subsidised flat
Amount Payable :
$20K Silver Housing Bonus
The bonus will be given to older Singaporeans (55 and above) who wish to downgrade their existing flat to a 3-room or smaller flat.
Net sales proceeds will have to be credited back into their CPF accounts - to be matched $—for—$ by the government, up to $20,000 ($15,000 in cash; $5,000 into CPF)
Any amount above the minimum sum can then be withdrawn in cash, together with the $15,000 above, will form the total cash-in-pocket after the downgrade.
The remaining amount in their CPF accounts will be used to purchase a CPF Life annuity plan.
Net sales proceeds will have to be credited back into their CPF accounts - to be matched $—for—$ by the government, up to $20,000 ($15,000 in cash; $5,000 into CPF)
Any amount above the minimum sum can then be withdrawn in cash, together with the $15,000 above, will form the total cash-in-pocket after the downgrade.
The remaining amount in their CPF accounts will be used to purchase a CPF Life annuity plan.
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