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 |
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This article is contributed by Kevin Yeo