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5 Things To Consider Before Selling Your HDB

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Thinking of selling your HDB flat? Before you proceed to hang the figurative ‘For Sale’ sign at your front door or start marketing your flat on Ohmyhome, here are a few important things every home seller should consider to get properly ready for the selling process.

1. Minimum Occupation Period (MOP)

Has your flat fulfilled its MOP? In most cases, you are only allowed to sell your flat if you’ve physically occupied your flat for at least five years but it could vary depending on your flat type. Those who will be buying from the new Prime Location Public Housing scheme (PLH) will have an unprecedented MOP of 10 years, double the duration of regular Build-to-Order (BTO) flats. To be on the safe side, you can check your flat’s MOP on the HDB website.

2. Ethnic Integration Policy (EIP)

Every HDB block in every neighbourhood has an Ethnic Integration Policy (otherwise known as the Ethnic Quota) and Singapore Permanent Residents (SPR) quota. It lets you know who is eligible to buy your flat. This information will be made available to you once you’ve registered your Intent to Sell on the HDB Resale Portal. Some ethnic restrictions could pose a challenge when selling your flat, which means it might take longer.

On March 8, 2022, it was announced that additional measures will be in place to help those with difficulties selling in their flats due to ethnic quota limits. HDB will buy back flats from eligible EIP-constrained flat owners who face issues in selling their flats at a reasonable price.

3. Seller Stamp Duty (SSD)

seller-stamp-duty-5-Things-To-Consider-Before-Selling-Your-HDB

Most sellers are liable to pay SSD. The SSD rate is dependent on the date of purchase and the length of time you’ve owned the property. These two factors can make all the difference. For instance, if you were to buy your flat between 20 February 2010 and 29 August 2010, and have held it for longer than a year, you need not pay SSD. You may refer to a more detailed breakdown of the rates here.

To put it simply, the shorter the holding period, the higher your SSD rate. Most HDB flats require at least 3 years holding period to avoid any SSD.

4. Resale Levy and Upgrading Levy

Planning to buy another flat after selling your current HDB? If you are a second time home buyer, be sure to check if you’re liable to pay any resale levy and/or upgrading levy. If you’re eligible for the levy, you’ll know of the amount payable at the stage where you’ve booked your second subsidised flat. The levy can be paid via your sale proceeds and/or cash.

5. Do Your Research

Research on past transacted prices to understand the market better. Past transacted prices provide you with a benchmark on how much properties within your area were sold for in recent times.

HDB Map Services example
Source: HDB Map Services

For HDB flats, check out their in-built Map Services, nifty tool that automatically collates resale price, date and unit data for past transactions up to the past 12 months. It’s a free service that not many know about but its data can help all potential HDB buyers and sellers. 

This might not be a exhaustive list but do keep in mind these 5 considerations as a guide to start your selling journey right. After ticking these 5 things from your list, you’re all set to start posting your listing on Ohmyhome where the real fun begins!

Looking for an HDB or private property?

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Let Ohmyhome’s smart data-matching technology MATCH you with the right home, according to your specific needs. Submit your preferences to us and our algorithm will filter all our available listings based on those, and we’ll WhatsApp them to you once we find a match. We’ll also send you relevant content that you can use for your research and inform your home buying decision, so you no longer have to spend hours searching online for the information that you need.

You can also call us at 6886 9009 to secure an appointment with any of our Super Agents or message us in the chatbox at the bottom, right-hand corner of the screen. You can also WhatsApp us at 9727 5270!

Source: HDB


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