The key aspect of purchasing a HDB flat, is that you will need to live in the flat for a set number of years after you have completed the flat purchase (aka key collection). The Minimum Occupation period (MOP) is usually five years. It’s 10 years for Prime Location Housing (PLH). Flats.

Tembusu Grand land developer is located in the heart of Katong and is within walking distance of numerous popular shopping malls, food courts and leisure facilities. It is also near major transport hubs, making it easier for residents to travel within the city.

You can leave the MOP at any time.

• The flat is up for sale on the resale marketplace
• Rent the entire unit
• You can apply for a HDB flat by completing one of the sales exercises ( TTO, SB, or open booking).
• Private property

Our data team has now compiled a list with BTO projects which are expected to be MOP in 2018. In 2018, a total of 15,550 units were delivered across 23 projects. We expect them to complete their MOP by 2023.

Please note that rental units are not included in this list. There are blocks that have different completion dates for some projects. One block at EastLink 2 @ Canberra will be completed by MOP in this year’s case. Some projects may have fewer units.

Do you need to sell immediately after MOP?

Many homeowners realize that the time has come to sell their flat after reaching the five-year mark. It is possible to sell the flat for a good profit, even though it was originally priced with subsidies.

You can also sell the flat after the MOP to make a greater profit.

The flat is just five years old and has approximately 94 years remaining on its lease. It is also in excellent condition. This makes the flat more attractive to buyers as they don’t need to spend a lot on renovations.

In November, we reported a 5-room BTO apartment in Canberra, which had just completed its MOP, was sold for S$745,000. It was a record-setting price for a Sembawang 5-room resale apartment.

The transaction’s price ranged between S$315,000 and S$373,000 during the BTO launch. The paper gain for the owners was between S$372,000 and S$430,000, which is around 99% to 137%.

(As of this writing, this record was broken by another 5-room recently MOP-ed flat. It was sold earlier this year for S$760,000.

We have also seen resale flats of recently MOP-ed flats where they were sold at twice their BTO.

Importantly, don’t rush selling your flat.

However, you should also take the time to think about what the next steps in your homeownership journey are before you list your HDB apartment for sale.

Consider why you are selling. Are you selling because of the high price or to be closer to your child’s primary school. Do you want to move to a larger flat or condo?

If you plan to convert to a condo, make sure it is within your financial capabilities. Contrary to HDB flats, where you can also get an HDB loan option, bank loans are the only options for condo financing.

Bank loans are more affordable than HDB loans. You can only borrow 75% of the purchase value or the purchase price.

Condo purchases will require a 25% down payment and a higher price. 5% of this amount must be paid in cash.

Apart from the housing loan arrangement, you should also make arrangements for temporary accommodation if your BTO is not yet ready or you are looking to sell it first before purchasing your next home.