Alvin Ling | Real Estate Agent in Singapore

To sell your HDB flat in Singapore, you can engage a real estate agent who will assist you with the sale, market your property, and handle the necessary paperwork.

The steps involved in selling an HDB flat include fulfilling the Minimum Occupation Period (MOP), obtaining HDB approval, engaging a real estate agent, marketing the property, negotiating offers, and completing the necessary paperwork.

In general, you are required to fulfill the Minimum Occupation Period (MOP) of 5 years before selling your HDB flat. However, there are exceptions such as selling under the Selective En bloc Redevelopment Scheme (SERS) or specific hardship cases. It is advisable to consult with the HDB for further guidance.

When determining the selling price of your HDB flat, factors to consider include the location, size, condition, remaining lease, and recent transactions of similar properties in the area. It is recommended to consult a real estate agent who can provide you with a Comparative Market Analysis (CMA) to help determine a competitive and realistic selling price.

The costs involved in selling an HDB flat typically include agent commissions, legal fees, and marketing expenses. You may also need to settle outstanding mortgage loans or other related charges. It is recommended to consult a real estate agent or legal professional to understand the specific costs involved.

Engaging a real estate agent to sell your HDB flat is not mandatory, but it is highly recommended. A real estate agent has the expertise and resources to market your property effectively, negotiate with buyers, and handle the necessary paperwork, making the selling process smoother and more efficient.

The time taken to sell an HDB flat in Singapore can vary depending on factors such as market conditions, location, pricing, and demand. On average, it can take several weeks to a few months to complete the sale process.

If you have outstanding renovation loans, they will need to be settled before or during the sale of your HDB flat. The outstanding amount will be deducted from the sale proceeds, and the remaining funds will be disbursed to you.

To buy an HDB flat in Singapore, you must be eligible as a Singapore citizen or a Permanent Resident, form a family nucleus, meet the income ceilings, and not own any other residential property locally or abroad. You can apply for an HDB flat through the HDB website or participate in the regular HDB sales exercises.

Yes, foreigners, including Permanent Residents (PRs) and non-residents, can buy private condominiums in Singapore. However, there are certain restrictions on ownership of landed properties and executive condominiums (ECs). Foreign buyers are also subject to Additional Buyer's Stamp Duty (ABSD) rates, which vary based on their residency status.

Freehold condos have indefinite ownership rights, meaning there is no expiry date on the ownership. Leasehold condos, on the other hand, have a specific lease period (e.g., 99 years) after which the ownership returns to the landowner or the government. It is important to consider the remaining lease when purchasing a leasehold property.

The costs involved in buying a condo in Singapore include the purchase price, stamp duty (Buyer's Stamp Duty), legal fees, agent commissions (if applicable), and financing-related expenses. Buyers may also need to consider renovation costs, property valuation fees, and maintenance fees for condos. It is advisable to have a clear understanding of all costs involved and seek financial advice if needed.