Need more room for your growing family? Perhaps you’re looking for a new HDB flat that’s a lot closer to your parents’?
Selling your property for the first time may be daunting. Common questions that come to mind are “When can I start listing my house in the open market?”, “How can I sell fast?”, “How to attract the most buyers?” or “When is the best time to sell?” These are valid questions, but before hanging that “For Sale” sign, you need to find out whether you are eligible to sell your HDB.
What are the eligibility conditions before selling your flat?
1. Minimum Occupation Period (MOP)
The MOP is calculated from the date you collect the keys to your flat. It excludes any period where you do not physically occupy the flat, such as when the whole flat is rented out or when there has been an infringement of the flat lease.
The MOP duration depends on the purchase mode, flat type, and date of flat application. MOP is usually five years.
2. Ethnic Integration Policy (EIP)
The EIP ensures a balanced ethnic mix in HDB estates, thereby helping to promote racial integration and harmony. It applies to the sale and purchase of all new and resale HDB flats and is implemented for all ethnic groups. If your household has members of different ethnic groups, when you have purchased your HDB flat, your household ethnicity is classified under the ethnic group of any owner or spouse (co-owner or occupier), according to the race shown on the NRIC of the chosen member.
You cannot change the ethnicity that you have chosen for the household, it will remain the same when you subsequently sell your flat on the open market.
3. Singapore Permanent Resident (SPR) quota for your block/neighbourhood
If you belong to a non-Malaysian SPR family (i.e. households with no Singapore Citizens (SCs) or Malaysian SPRs), you can sell a particular resale flat if the EIP and SPR quotas have not been reached. The SPR quota ensures that SPR families can better integrate into the local community. Malaysians are excluded from this quota because of their close cultural and historical similarities with Singaporeans.
Citizenship- Non-Malaysian SPR
- SPR Quota in Neighbourhoods- 5%
- SPR Quota in Blocks- 8%
The ethnic proportions and SPR quota are updated on the 1st of every month and are applicable for resale applications submitted to us for that same month.
You can view the EIP/SPR quota of your flat after you have registered your Intent to Sell using the HDB Resale Portal. Alternatively, buyers can check a buyer’s eligibility to buy a flat under the EIP/SPR quota.
Are you confident now that you are eligible to sell your flat? Engage Ohmyhome’s experienced and top-notch agents to assist you in selling your property in the shortest time, at the lowest rate in town! Learn more about our fixed fee agent service from $2888 nett.
Call us at 6886 9009 now!