If you have previously bought a new flat from HDB, Design, Build and Sell Scheme (DBSS) flat or Executive Condominium (EC) from a developer, or received a CPF Housing Grant, you might have to pay a resale levy when you purchase your next home.

 

Situations in which a resale levy is payable.

You need to pay a resale levy in either of these cases:

  • You dispose of your subsidised flat and then buy a second subsidised flat from HDB
  • You dispose of your subsidised flat and then buy an EC from a developer where the land sale was launched on or after 9 December 2013, including those where tenders were not closed, i.e. Westwood Avenue, Canberra Drive and Anchorvale Crescent

You need not pay a resale levy if you are buying any of these:

  • Design, Build and Sell Scheme (DBSS) flat from a developer
  • EC from a developer; where the land sale was launched before 9 December 2013
  • HDB resale flat
  • Private residential property

 

Resale Levy Payable

First Subsidized Flat TyoeAmount of Resale Levy Payable under Revised Policy (From 3 Mar 2006)*
2-Room$15,000
3-Room$30,000
4-Room$40,000
5-Room$45,000
Executive Flat$50,000

*only applicable for 1st subsidized flat sold on/after 3 March 2006

 

Paying the Resale Levy

The resale levy payable is determined at the point you book your second subsidised flat. It applies regardless of ownership type (joint-tenancy or tenancy-in-common) or shared interest in the flat.
Payment can only be made by way of your flat sale proceeds and/ or cash. HDB mortgage financing will not be extended to the payment of a resale levy.

 

Which Are The Executive Condos (EC) without Resale Levy?

Below are the current on-going ECs (already launched) that WILL NOT BE AFFECTED by the Second Timer Resale Levy

Project NameExpected T.O.PRemarks
Skypark Residences @ Sembawang CrescentJan-17
Forestville @ Woodlands Drive 16May-16Click here for more info
Twin Fountains @ Woodlands Ave 6Oct-16
Sea Horizon @ Pasir RisNov-16Click here for more info
Waterwoods @ Punggol Field WalkMar-17
Ecopolitan @ Punggol WalkDec-16Click here for more info
BellwoodsNov-17Click here for more info
Bellewaters @ Anchorvale CrescentNov-17Click here for more info
Amore @ Punggol CentralJul-17
The Terrace @ Punggol DriveMar-18Click here for more info
Lakelife @ Yuanqing Road JurongDec-17

 

Looking to upgrade to an Executive Condo? Talk to us today!

With 1 of the largest selections of Executive Condo projects, talk to us today to get the best developer discounts and the home of your choice.

Visit Lovely Homes Page for all the latest available Executive Condo projects.

 

This article is contributed by Kevin Yeo