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Buying a Resale Flat
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Eligibility SchemesEthnic Integration Policy & SPR QuotaEligibility To Buy : Public Scheme

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The Public Scheme allows you to buy an HDB resale flat with your family from the open market.

To buy a resale flat under this Scheme, you must meet the following eligibility conditions.

Criteria

Detailed Description


Citizenship You must:
Be a Singapore Citizen (SC) or Singapore Permanent Resident (SPR)
Include at least one listed occupant who is a SC or SPR



Age You must be at least 21 years old.


Family Nucleus You must form a family nucleus, such as:
Your spouse and children, if any, or
Your parents and siblings, or
Your children under your legal custody, care and control (for widowed, divorced or separated persons)



Income Ceiling There is no income ceiling unless you are applying for CPF Housing Grant and/or an HDB Loan.


Ownership of Private Residential Property

You can own private property (unless you are applying for a CPF Housing Grant and/or an HDB loan). However, you must live in the HDB resale flat.


Ethnic Integration Policy and SPR Quota Proportion of your ethnic group and SPR quota (if applicable) has not reached the limit. Find out more about the Ethnic Integration Policy (EIP) and SPR Quota.





CPF Housing Grant

Under the Public Scheme, you may apply for one of the following CPF Housing Grant if you meet all the eligibility conditions for the respective grant:
CPF Housing Grant for Family
CPF Housing Grant for Singles




Last Updated on 09 Mar 2010
Most popular related info…

If you are buying the resale flat jointly with one or more persons (up to a maximum of four persons), you must decide how you and the other co-owners would want to hold the property.



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[borom]

........policy encouraging rich foreigners (PRs) to have a go at the HDB resale market, is it any wonder why the HDB resale prices skyrocketed with the explosion of the PRs population in the last few years?

We can argue till the cows come home, but the main reason for all our (meaning locals) sufferings today (be it housing, jobs, sports representation, places in tertiary education ect2) is the pro-foreigner policy of the party.

Until the time this discrimination against locals is changed,whether via the ballot box, death of the '' Great Leader" or by other means, Singaporeans will continue to suffer.Do we contine doing nothing and watch from our 3/4 room HDB while rich and corrupt foreigners come and buy up all the best properties. Why should we let these corrupt outsider's children steal our childrens places in schools and of their jobs?

The issue is do we want to wait until things become so intolerable that non-peaceful means has to be used? By that time, how much of our CPF will be left with GIC/Temasek's record of 'long term investments'.

How many of us can migrate and run away from all this?

Its better to engineer a soft landing now (eg the election defeat of unpopular ministers in charge of public housing, home affairs, manpower, education ect2) than to wait for a hard landing(eg Thailand (red shirts) and ,Phillipines (Marcos overthrow).

 

[kojakbt]

I agree with you that our housing woes will worsen our already very low birth rate. Ordinary people like us can see this clearly but it's strange that our highly paid PAP govt seems to have problem seeing what we are seeing.

When you are rich millionaires, you won't notice the sufferings of the ordinary people....

 

[darthboy]

those who complain about 30 year loans and the government...do you even know how loans work?

Read the Credit River jury decision and why the banker's appeal failed. Credit comes from thin air, admitted by the banker himself.

The judge lost his life over it. The court documents are still up on the relevant US government website. Don't let the information go to waste.

 

[darthboy]

The ORIGINAL loan document that you signed. Have you asked to inspect it?

It has to be original, front and back. NOT copy, NOT certified true copy, NOT discharge letter.

Creditor produces certified true copy and asks debtor in court whether This's his signature. Dumb fuck debtor admits the laser toner (it's a copy!) signature is his. Judge sees this and can do nothing.

 

[borom]

G-8 Warns Recovery Remains Fragile
TORONTO—The Group of 8 industrialized countries agreed the global recovery remains "fragile" but made few suggestions about how they would strengthen it........progress is being made to restore the health of the global economy and financial system. But it acknowledged continued strains. " ...............

http://online.wsj.com/article/SB100...820003670.html?mod=WSJASIA_hpp_LEFTTopStories

Just a reminder that some things are too good to be true-like when the 86 year old said on Friday that there's no property bubble in Singapore.

Does it make sense to have record prices when world economy is still fragile and trying to recover from its worst recession.

 

[johnny333]

Just a reminder that some things are too good to be true-like when the 86 year old said on Friday that there's no property bubble in Singapore.

Does it make sense to have record prices when world economy is still fragile and trying to recover from its worst recession.

Spore is behind the curve.

While Europe, USA,... have gone through the issues of fat cat bonuses, too big to fail companies, ponsie schemes, civil servant pay cuts,...

We haven't even started looking at who's responsible for the billions of losses at Temasek. Wouldn't be surprise if one day Spore has to file chapter 11

 

[Papsmearer]

Actually, I don't know why this is an issue at all. If you talk to most ah pek and ah soh, it's not a big issue. To them, HDB 99 year tenancy is the same as those 99 year condo. They can sell away easily at the open market. So, ah peh, ah soh don't really care how you call it or word it in the contract as long as they can sell off easily when they want to.

Hence, I think this oft-argument that you don't own HDB blah blah blah is moot. Try explaining this to the ah pek and ah soh in legal terms and they will fall asleep. To them, it's as good as they "own" it cause they can sell it and get back any returns to their own pockets. In a real leasing case, you can't even sell it since you don't own it.

Avoid using this argument. Doesn't bite with the man in the street.

U need to hang out with a different crowd. Singapore has been one of the highest educated societies in the world. If the Ah pek and Ah so don't understand how it works, too bad. MOst other people u talk to in their 40s, 30s, even in their 50s are totally ignorant as to how the 99 lease works.These people need to be educated, and they have the tools ot understand it.

The Ah Pek and Ah so need to know if u wait too long, your flat value is drastically decreased. If u sell in the middle of the lease say around year 45 to year 50, most banks will not finance and they will get little returns. Also when they calculate their returns, they don't take into account how much money they were forced to spend on upgrades. This has to be added to the capital costs. And if they sell in a recession year, such as 2 years ago, again they will see less return.

People who bought their flats 15 years ago are not going to be in the same boat as these people. These are the people I talk to mostly. People in their 30s and 40s. Ah Peks and Ah sos bought their flats when it was truly subsidized, not market subsidized, and they are increasingly the minority lucky few. What u are talking about is comparing apples and oranges. Makes no sense whatsoever.

 

[Papsmearer]

Just a reminder that some things are too good to be true-like when the 86 year old said on Friday that there's no property bubble in Singapore.

Does it make sense to have record prices when world economy is still fragile and trying to recover from its worst recession.

Olg Goat has to say there is no property bubble mah. His family, gecko's family, and their related karkia are some of the biggest property owners in S'pore. Its in his interest to keep selling to suckers and than buy back cheaper when the bubble bursts.

 

[kojakbt]

The Ah Pek and Ah so need to know if u wait too long, your flat value is drastically decreased. If u sell in the middle of the lease say around year 45 to year 50, most banks will not finance and they will get little returns.

Yes, but it's the same for 99 year condo too. Hence, the man in the street sees the HDB somewhat the same as 99 year condo except that they can't sell it in the first few years of occupation.

Also when they calculate their returns, they don't take into account how much money they were forced to spend on upgrades. This has to be added to the capital costs. And if they sell in a recession year, such as 2 years ago, again they will see less return.

The amount is small lah. Not a big issue.

People who bought their flats 15 years ago are not going to be in the same boat as these people. These are the people I talk to mostly. People in their 30s and 40s. Ah Peks and Ah sos bought their flats when it was truly subsidized, not market subsidized, and they are increasingly the minority lucky few. What u are talking about is comparing apples and oranges. Makes no sense whatsoever.

Sure, but the point is, those 30s and 40s and sell it later anytime, much like any 99 year condo. In fact, the risk of losses in 99 year condo is much higher than a HDB...

 

[borom]

More bad news as Joel Kotkin (ST pg B6 July 1 2020) said

" Cities can become toxic environments ....and this is demonstrated in Singapore as it has one of the world's lowest fertility rates......high density living no longer attractive ...the city is no longer a place for them to raise a family "
(sorry no link provided as not subscriber to ST and cannot find this news in CNA or Today's online edition)

This will definitely becomes worse as the government continue to flood the place with low quality foreigners and the population increases.The ordinary man staying in HDB flats will get the brunt of the toxic environment esp the 3/4 roomers where new blocks being built are increasingly closer to each other and more congested, noisy and polluted.

On top of that recent news of negative health effects from drinking recycled
water will only add to the miserable future.

Ask yourself-is it worth paying so much and be a 30 years slave for a toxic place?

 

[torrentrocks]

Even if you want to sell off your flat to sleep on the street, that's fine. I HAVE NO ISSUE with HIGH RESALE PRICES as long as Singaporean buyers get a subsidy from HDB.

But I do have an issue with HIGH HDB PRICES for NEW FLATS which are meant for first time buyers, most probably newly wed couples!

Hi Goh Meng Seng,

First, let me start by stating, I am anti-PAP.
But it doesn't automatically means that I am voting for opposition.

What you have done so far is: describe the problem PAP has created - unaffordable HDB prices.

You do not seem to offer any viable solutions, except for the above - more subsidies from HDB for first time buyers.

More subsidies OR any subsidies causes more price inflation.

Let me illustrate:
If PAP gives every Singaporean $1 Million dollars voucher today, which can only be used to buy Honda cars.
Q: How much do you think the cheapest Honda car will be?
A: Honda cars will start from $1 Million dollars.

This is the problem with subsidies.

Do you want to make the problem worse - Higher HDB prices?

Why should we vote for a worse solution?

PAP policies are enslaving Singaporeans.
Do we need NSP policies (or non-existing policies) to enslave Singaporeans more?

We need an Opposition with clear and workable policies.

 

[torrentrocks]

Dear Goh Meng Seng,

Scroobal does have a point, Person A who owns a $2M asset have 1.7 million more options then Person C with $300K asset.

Dear Scroobal,

Your analysis is flawed here.

Back in 1974, REAL SUBSIDIES were given to Singaporeans and that is why the flats are so cheap. The biggest leap in HDB prices happened during GCT time, 1990s. This is due to the drastic change in housing policies.

Thus, if you want to make a good comparison, you should use 1990s prices to compare with 20 years later, 2010 prices.

Having said that, the so call "capital appreciation" is a myth. It only makes you feel good on paper. The truth is, you cannot just sell off the only HDB flat you have. You will need to find another flat to buy.. at market prices?

Downgrading is not an attractive option due to the present HDB policy. You cannot get HDB loans if you are "downgrading". Meaning, you will be paying higher interests with bank loans.

Furthermore, for those who bought their flats in 1990s that take "HDB grants", regardless of the amount of grant they gave you, they will take away 25% of your sale proceeds of your HDB flat.

Meaning, if they gave you $40K grant, and you sold your flat for $400K, they will take away $100K! This is so if you want to buy another HDB flat! And this amount can "grow" as time goes by!

Thus, the whole myth about "capital gain" is totally flawed.

Goh Meng Seng

The reason I chose 1974 is to show how prices have risen over 30 years. Painting an empirical fact. In another 30 years time, we will go well past the current figures as the same basket of goods cannot be purchased by the same dollar. The formula and the methodology is the same. To an economist, money more valuable now than later.

I once cited the case of 3 civil servants of the same grade in the old SBF.
1) Person A bought a semi-D in the newly developed private housing estate in Serangoon Gardens
2) Person B bought a HDB flat and kept the rest in FD, continously putting his savings in it.
3)Person C never believing in borrowing money, saved up and bought his first house , a 3 room flat when he retired while staying in Govt qtrs.

After 30 years, Person A now owns a $2M asset that is unencumbered.Person B a 5 room flat valued at $650K and Person C a 3 room flat valued at $300K. Guess who paid the most in interest and came out best in terms of asset - Person A. The person C who was the most frugal had the least valued asset and he never paid a single cent in interest. So what went wrong with Person C?

The trick is put your money in an investment that grows the fastest with acceptable risk. There is only one in land short Singapore - property.

 

[aangsc]

so what is the remedy?

Don't get married, don't buy house
and
continue to leech at your parents or in laws place?

:p

Agreed with you, what is the remedy. We want solution not just problem.I am no supporter of any party but I wonder what opposition has to offer in term of public housing, healthcare and education ? We don't want empty promise either. Can you achieve 1/3 price for HDB like our neighbour up north. New buyer will be delighted for sure and HDB owner would die of heart attack when price fall 33%.

 

[torrentrocks]

Hi theDoors,

You almost got it!

Lets do some inflation math:
<TABLE BORDER=1 CELLPADDING=3 CELLSPACING=0><TR><TH>Year</TH><TH>Gold Price</TH><TH>HDB (4 room)</TH><TH>HDB (2 room)</TH><TH>Bus fare (Feeder service)</TH></TR><TR><TD>1973</TD><TD>$32</TD><TD>$15,500</TD><TD>$5,000</TD><TD>-</TD></TR><TR><TD>1981 (1973+8)</TD><TD>$64</TD><TD>$31,000</TD><TD>$10,000</TD><TD>-</TD></TR><TR><TD>1989 (1981+8)</TD><TD>$128</TD><TD>$31,000</TD><TD>$20,000</TD><TD>-</TD></TR><TR><TD>1996 (1989+7)</TD><TD>$256</TD><TD>$62,000</TD><TD>$40,000</TD><TD>$0.15</TD></TR><TR><TD>2003 (1996+7)</TD><TD>$512</TD><TD>$124,000</TD><TD>$80,000</TD><TD>$0.30</TD></TR><TR><TD>2009 (2003+6)</TD><TD>$1024</TD><TD>$496,000</TD><TD>$160,000</TD><TD>$0.60</TD></TR></TABLE>

Using Rule of 72 to estimate inflation doubling time.

Rule of 72
For instance, if you were to invest $100 with compounding interest at a rate of 9% per annum, the rule of 72 gives 72/9 = 8 years required for the investment to be worth $200; an exact calculation gives 8.0432 years.

The best case scenario, prices double every 8 years (see above table).
72/8 years = 9% inflation per annum.

Historically (1970s to present), in Singapore, we have 9% inflation per annum.

When your HDB loan rate is only 2.6%, it better to take a longer loan (30 years) then to keep cash (in CPF) with only 2.4% p.a. returns.

It's call Negative Real Interests Rates

It's bad for savers:
For every $100 you save in your CPF account, you lose $7.60 every year due to:
CPF savings interest rate is 2.4% and the inflation rate is 9%.

Scroobal is correct, it is better to put your CPF money in a higher yielding asset, like a HDB flat, then to keep cash in the CPF account.

Caveat:
The above only holds true when inflation rate is higher then savings rate.
Do not quote the Consumer Price Index (CPI) as it does not measure housing prices.
And you cannot purchase anything in the CPI basket of goods with your CPF savings account.
I am only comparing the savings VS loan using the CPF account.

https://www.blogger.com/comment.g?blogID=11702093&postID=5572318151170480460&isPopup=true

In 1973,

4 room flat (92 sq m) is $15.5K
plate of chicken rice is 70 cents.
fresh poly grad pay is $400 pm.
minister pay is 3-4k pm, about 40K per year.

In 2009

same flat is $350K. (22 X)
chicken rice $2.50 (3 X)
salary poly grad $1.8 to $2K pm (5 X)
minister pay say $1 m per year (25 X)

So public housing price vs pay jump so much, obviously not healthy for quality of living and retirement for ordinary folks.

January 13, 2010 11:03 AM

The prices provided for 1973 makes a rather meaningful comparison between now and then. Seems like hawkers have been subsidising Singaporeans as the country develops.

 

[torrentrocks]

Re: HDB Mortgage SLAVES - Solution

The only way to stop asset (HDB) price inflation.

1. Raise Interest Rates - to lower Inflation Rates:
   Currently, Singapore Interbank Offered Rate (SIBOR) Rates: 0.6%
   U.S. Federal Funds Rate: 0.0–0.25%
   Australia had already raise their interest rates to 4.5%
2. Remove HDB Subsidies and Grants

 

[UpYoz_olo]

Hi Goh Meng Seng,


We need an Opposition with clear and workable policies.

I think sibei kangkor with party like NSP; one of only 4 oppo parties that print newspapers - or was it newsletters?

I would rather an oppo party save the $$ for printing toilet papers to have people with acceptable IQ, humility and willing to be MP for 1 peanut.

:oIo:

 

[torrentrocks]

I think sibei kangkor with party like NSP; one of only 4 oppo parties that print newspapers - or was it newsletters?

I would rather an oppo party save the $$ for printing toilet papers to have people with acceptable IQ, humility and willing to be MP for 1 peanut.

:oIo:

Either way, if the opposition or PAP is expanding on existing inflationary policies, e.g. more HDB subsidies/rebates and low interest rates, we are doomed for 9% inflation rates.

Most politicians will promise more benefits/subsidies/rebates to get elected/re-elected.

Which politician will tell the voters, that we need to remove HDB subsidies/rebates.

 

[johnny333]

Agreed with you, what is the remedy. We want solution not just problem.I am no supporter of any party but I wonder what opposition has to offer in term of public housing, healthcare and education ? We don't want empty promise either. Can you achieve 1/3 price for HDB like our neighbour up north. New buyer will be delighted for sure and HDB owner would die of heart attack when price fall 33%.

PAP's solution is obviously to fatten their own pockets & their cronies pockets, at the expense of the majority of Spore's working poor.

Sporeans are so politically naive, it's no wonder that LKY has managed to hold on to power for so long . In a democracy you need check & balances. While some people are waiting for the opposition to provide the solution to LKY's mistakes, they are willing to let LKY run riot with his half bake policies .

If Sporeans are not willing to support the opposition, how can they expect a system of check & balances to exist

 

[UpYoz_olo]

PAP's solution is obviously to fatten their own pockets & their cronies pockets, at the expense of the majority of Spore's working poor.

Sporeans are so politically naive, it's no wonder that LKY has managed to hold on to power for so long . In a democracy you need check & balances. While some people are waiting for the opposition to provide the solution to LKY's mistakes, they are willing to let LKY run riot with his half bake policies .

If Sporeans are not willing to support the opposition, how can they expect a system of check & balances to exist

Look at malaysia. Oppo there more than Sg right? same mix of ethnicity as Sg. infighting among cheenas. what happen to the country there? better than sg? don't anyhow blame lah.

people of our kind of race can only thrive in pap system. more oppo means malaysia situation. you like it?

nabei chee bi, it's the fuckg type of oppo people erections after erections that fail to win sgporeans over. not the apathy of sg voters.

i have no answers why more gms type of oppos are around. sg needs oppo no doubt, BUT, not of the current crop of clowns mainly.

:oIo::oIo::oIo::oIo: