Different segments of potential homebuyers were affected by the September 30, cooling measures.

There are many schools near Tembusu Grand estimated price that future residents can choose from such as Kong Hwa Primary School, Tanjong Katong Primary School, Canadian International School and Haig Girls’ School. Other than these, there are a number of reputable secondary schools such as Chung Cheng High School (Main), Tanjong Katong Secondary School and Dunman High School.

Let’s say you are a first-time HDB BTO owner with a 2- or 3-bedroom HDB BTO and have completed your 5-year Minimum Obligation Period. You might wonder if your HDB flat will be affected if it is sold on the resale marketplace and you upgrade to a 5-room BTO unit or HDB resale units, EC, or private condo.

A third segment may be affected is the owner of a private 2- or 3-room condo for investment and plans to sell it to buy a 4- or 5-room HDB flat.

Here’s a table that will help you understand your options when upgrading as an investor or property owner. If you are applying for or purchasing jointly, generally the same rules apply to your spouse.

Selling to upgrade? These are some important conditions, especially how would the cooling measures of September 2022 and December 2021 affect you.If you take a Housing loan, your stress-test interest rate, Total debt Servicing Ratio(TDSR), and Loan-to–Value (LTV), will be increased.
If you take a Housing Loan, your stress-test interest rate will be increased along with TDSR and LTV limitations.Also, you will need to have completed your 5-year MOP (10 years for Prime Location Public Housing flats or PLH).Within 6 months after receiving the keys to your BTO, you must sell your HDB flat.If you take a Housing Loan, your stress-test interest rate, Mortgage Servicing Rate (MSR), TDSR, and LTV limits will be increased. For PLH, you will need to have completed your 5-year mortgage servicing ratio (MSR), TDSR and LTV limits.Within 6 months after receiving the keys to your BTO, you must sell your HDB flat.If you take a Housing Loan, your stress-test interest rate, MSR and TDSR will be increased.If you are a new EC, you must have completed the 5-year MOP.Also, you will need to sell your property and wait for 30 months.If you take a Housing Loan, your stress-test interest rate, MSR and TDSR will be increased.Also, you will need to sell your property and wait for 30 months.Sellers Stamp Duty (SSD) will be required if you decide to sell your property in the next 3 years.If you take a Housing Loan, your stress-test interest rate, MSR and TDSR will be increased.Also, you will need to sell your property and wait for 30 months.Sellers Stamp Duty (SSD) will be required if you decide to sell your property in the next 3 years.If you take a Housing Loan, your stress-test interest rate, MSR and TDSR will be increased.Also, you will need to sell your property and wait for 30 months.If you take a Housing Loan, your stress-test interest rate will be increased along with TDSR and LTV limitations.
If you take a Housing Loan, your stress-test interest rate, MSR and TDSR will be increased.Also, you will need to have completed your 5-year MOP.Your HDB flat must be sold within six months after you receive the keys.If you take a Housing Loan, your stress-test interest rate, MSR and TDSR will be increased.Also, you will need to have completed your 5-year MOP (or 10 years for PLH).Your HDB flat must be sold within six months after you receive the keys.If you take a Housing Loan, your stress-test interest rate, MSR and TDSR will be increased.If you are a new EC, you must have completed the 5-year MOP.Also, you will need to sell your current EC and wait for 30 months.If you have not used the CPF Housing Grants (excludes Proximity Housing Grants), this period will be extended to 15 months. You can purchase a 4-room HDB resale if you are 55 years old or older without the 15-month wait period.If you take a Housing Loan, your stress-test interest rate, MSR and TDSR will be increased.Also, you will need to sell your property within 15 months.You can purchase a 4-room or lower HDB Resale if you are 55 years old and over. If you sell within three years, you will be subject to Sellers Stamp Duty.If you take a Housing Loan, your stress-test interest rate, MSR and TDSR will be increased.Also, you will need to sell your property within 15 months.You can purchase a 4-room or lower HDB Resale if you are 55 years old and over. If you sell within three years, you will be subject to Sellers Stamp Duty.If you take a Housing Loan, your stress-test interest rate, MSR and TDSR will be increased.Also, you will need to sell your property within 15 months.You can purchase a 4-room HDB resale if you are 55 years old or older.If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.
If you take a Housing Loan through a financial institution such as a bank, you will be subject to a tightened stress-test rate, MSR (if this is a new EC), and TDSR.Also, you will need to have completed your 5-year MOP (or 10 years for PLH).Your HDB flat must be sold within six months after you receive the keys to your new EC.You can keep your HDB flat if it is a resale EC (6th Year from its TOP), but ABSD will apply.If you take a Housing Loan through a financial institution such as a bank, you will be subject to a tightened stress-test rate, MSR (if this is a new EC), and TDSR.Also, you will need to have completed your 5-year MOP (or 10 years for PLH).Your HDB flat must be sold within six months after you receive the keys to your new EC.You can keep your HDB flat if it is a resale EC (6th Year from its TOP), but ABSD will apply.If you take a Housing Loan through a financial institution such as a bank, you will be subject to a tightened stress-test rate, MSR (if this is a new EC), and TDSR.If it is a new EC, you will need to have completed your 5-year MOP.As ECs are considered hybrid-public-private properties by HDB, you must sell your existing EC and wait for 30 months before buying a new EC.You can keep your existing EC if you purchase a resale EC (6th Year from its TOP), but you will need to pay ABSD.If you take a Housing Loan through a financial institution such as a bank, you will be subject to a tightened stress-test rate, MSR (if this is a new EC), and TDSR.As ECs are considered hybrid-public-private properties by HDB, you must sell your existing private property and wait for 30 months before buying a new EC.You can keep your property but you will have to pay ABSD if you are buying a resale EC (6th Year from its TOP).If you take a Housing Loan through a financial institution such as a bank, you will be subject to a tightened stress-test rate, MSR (if this is a new EC), and TDSR.As ECs are considered hybrid-public-private properties by HDB, you must sell your existing private property and wait for 30 months before buying a new EC.You can keep your property but you will have to pay ABSD if you are buying a resale EC (6th Year from its TOP).If you take a Housing Loan through a financial institution such as a bank, you will be subject to a tightened stress-test rate, MSR (if this is a new EC), and TDSR.As ECs are considered hybrid-public-private properties by HDB, you must sell your existing overseas property and wait for 30 months before buying a new EC.You can keep your overseas property if you are buying a resale EC (6th years after its TOP).If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.
If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.Also, you will need to have completed your 5-year MOP (or 10 years for PLH).As this is your second property, you will be subject to a higher Additional Buyer’s Stamp Dut (ABSD).If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.Also, you will need to have completed your 5-year MOP (or 10 years for PLH).As this is your second property, you will be subject to a higher Additional Buyer’s Stamp Dut (ABSD).If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.If your current EC is brand new, you will need to have completed your 5-year MOP.As this is your second property, you will be subject to a higher Additional Buyer’s Stamp Dut (ABSD).If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.As this is your second property, you will be subject to a higher Additional Buyer’s Stamp Dut (ABSD).If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.As this is your second property, you will be subject to a higher Additional Buyer’s Stamp Dut (ABSD).If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.
If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.
If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.Also, you will need to have completed your 5-year MOP (or 10 years for PLH).As this is your second property, you will be subject to a higher Additional Buyer’s Stamp Dut (ABSD).If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.Also, you will need to have completed your 5-year MOP (or 10 years for PLH).As this is your second property, you will be subject to a higher Additional Buyer’s Stamp Dut (ABSD).If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.If your current EC is brand new, you will need to have completed your 5-year MOP.As this is your second property, you will be subject to a higher Additional Buyer’s Stamp Dut (ABSD).If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.As this is your second property, you will be subject to a higher Additional Buyer’s Stamp Dut (ABSD).If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.As this is your second property, you will be subject to a higher Additional Buyer’s Stamp Dut (ABSD).If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.
If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.
If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.Also, you will need to have completed your 5-year MOP (or 10 years for PLH).If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.Also, you will need to have completed your 5-year MOP (or 10 years for PLH).If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.If your current EC is brand new, you will need to have completed your 5-year MOP.If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.
If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.
If you take a Housing Loan from a Singaporean bank, your stress-test interest rate will be increased and TDSR will be higher.

You should also note that there are other eligibility requirements, such as the applicant’s nationality, age, gender, type of scheme, housing grants, income limit, and past housing history, which may apply to different situations.

LISTING YOUR PROPERTY? Do you want to find out how much your property is worth. Perhaps you are thinking of selling your property. Contact us and we’ll get in touch with a consultant!

If YOU…

1) Do not own any property

For a first-time owner of property, eligibility will be based primarily on your income ceiling, age, nationality, scheme (joint, single), and scheme (joint, or single).

You’ll be affected if you apply to a mortgage loan. This means that you will have to pay higher stress-test interest and lower loan -to-value limits.

This has been raised from 2.6% to 3.3% for HDB loans to 3.5% to 4.4% for bank loans to stress-test interest rates. To ensure affordability, stress-test interest rates (or interest rate floors) are used to calculate your loan amount.

As of September 30, the loan-to-value limit for HDB housing loans has been decreased from 85% to 80 percent. The LTV limit for loans from financial institutions remains at 75%, despite 2018’s cooling measures. LTV limits that are stricter mean lower borrowing amounts, and thus the potential need for a higher cash downpayment or CPF.

Your Total Debt Servicing Rate (TDSR) is critical if you are servicing any other loans such as unsecured credit cards, car loans, or unsecured credit cards.

2) You can only own an HDB BTO Unit

If you own only one BTO unit and are applying for another BTO, you will first need to complete your 5-year Minimum Obligation Period (MOP), or 10 years if the unit is a /PLH unit.

Your existing HDB unit must be disposed of within six months after you receive the keys to your BTO unit. You are not permitted to own more than one HDB flat at a time.

This is also true for buying HDB resale flats or new ECs.

You can keep your HDB if you buy a resale EC after 6 years. Only Singaporeans and Singapore PRs are allowed to purchase a resale EC between its 6th and 10th years. Resale ECs can be purchased by foreigners when the EC becomes completely private after their 11th year. If you own your HDB flat, ABSD will apply to your second property.

You can keep your HDB flat if you buy a private property like a private condo, landed house or private condo.

Two subsidised housing flats are allowed (ie. Flats purchased using CPF Housing Grant are eligible for up to two subsidised housing flats. However, you will need to pay a Resale Levy for your second subsidised apartment.

3) You must own an HDB resale piece

If you are an HDB resale buyer, most policies regarding owning a BTO device apply.

If you are applying for a HDB housing loan, one thing to remember is the Mortgage Servicing Rate. This means that the maximum mortgage you can afford is 30% of your monthly income. This also applies to new ECs.

You can keep your HDB resale units, just like you could a BTO unit. However, you will lose the EC you bought in its 6th year. ABSD will apply to the resale EC. Similar rules apply to private property you buy in Singapore, even if your HDB resale apartment is not being sold.

4) You can only own an executive condominium

After you have completed your 5-year MOP and are the owner of a new EC, you can apply for a BTO after you wait 30 months. You will need to wait for HDB flat resale after you have sold your EC. However, if you didn’t use any CPF Housing Grants (with the exception of the Proximity housing grant), that period can be reduced to 15 months.

You will need to wait for 30 months to purchase a new EC if you have an existing EC.

If you purchase a resale EC in its 6th year or later, you can keep your existing EC. However, ABSD will apply as the resale EC is your 2nd property. This applies if your existing EC is being kept and you are buying private properties (condo, landed).

If your old EC was sold more than 30 month ago and you don’t own any other properties you can buy a new EC from the developer.

5) You can only own a private condominium

If you own a private condominium, then the cooling measures of September 30 would have had a greater effect on your right-sizing and upgrading plans.

You will need to wait at most 15 months after you sell your condo (no matter what type of flat it is or how many rooms it has) before you can purchase an HDB resale apartment. If you are 55 years or older, however, you can still buy a 4-room HDB resale apartment.

The 30-month waiting period for new ECs and BTO remains unchanged.

You can keep your private condo if you buy a resale EC (6th Year onwards) but you will have to pay higher ABSD (as per December 2021 cooling measures).

6) You can only own a landed property, or a strata land unit

If you are the owner of a private condominium, or a strata-landed home within a condominium community, then the policies for private condominium apply.

You should note that if you sell your landed home, buyers must be Singaporean citizens.

If your landed property is on the regulated list of landed housing types , the Singapore Land Authority will allow you to sell it to Singapore PRs or foreigners subject to their approval.

Singapore PRs may purchase your house without approval if it’s a strata-landed home in an approved condominium development (not projects that are classified as “apartments by URA), or a leasehold estate located in a landed residential property. This term must not exceed seven years, including any additional term granted by an option for renewal.

Non-PR foreigners can purchase your house if it is located in Sentosa Cove. However, the land area must not exceed 1,800 metres.

7) Do not own any property in Singapore, but you have an overseas property

If you own only overseas property, you will need to make difficult decisions if your goal is to purchase a BTO unit or a new EC.

First, you will need to sell your property overseas and wait for 30 months before applying for these properties. The wait time for an HDB resale is minimum 15 months (unless you are 55 or older, which we have shared previously).

You will be subject to foreign home-selling regulations in your overseas country. This could also mean that you may be exposed to extremely high foreign currency exchange rates.

You can keep your property if you are buying a resale EC, or private property.

8) You can only own a commercial property, such as a shophouse.

Final note: If you own only a commercial property like a shophouse or office, the cooling measures will not affect you as much when you buy your first Singaporean residential property.

You will still be exposed to them if your loan application is for loans – with higher stress rates, MSR (if buying HDB or new EC), TDSR, and loan-to value limits.

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