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 Tyoe | Amount 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 Name | Expected T.O.P | Remarks |
|---|---|---|
| Skypark Residences @ Sembawang Crescent | Jan-17 | |
| Forestville @ Woodlands Drive 16 | May-16 | Click here for more info |
| Twin Fountains @ Woodlands Ave 6 | Oct-16 | |
| Sea Horizon @ Pasir Ris | Nov-16 | Click here for more info |
| Waterwoods @ Punggol Field Walk | Mar-17 | |
| Ecopolitan @ Punggol Walk | Dec-16 | Click here for more info |
| Bellwoods | Nov-17 | Click here for more info |
| Bellewaters @ Anchorvale Crescent | Nov-17 | Click here for more info |
| Amore @ Punggol Central | Jul-17 | |
| The Terrace @ Punggol Drive | Mar-18 | Click here for more info |
| Lakelife @ Yuanqing Road Jurong | Dec-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