Singapore citizens can purchase up to two subsidized flats from the Housing Development Board (HDB) or on the open market. The resale levy aims to reduce the subsidy amount for the second flat to maintain fair allocation of housing subsidies between first-time and second-time buyers. Under the revised 2006 policy, the resale levy is a fixed amount between $15,000-$50,000 depending on the flat type, providing more certainty for homeowners deciding whether to purchase a second subsidized flat. The policy change and applicable levy amounts are determined based on when the second flat application and first flat sale application are submitted.
Singapore citizens can purchase up to two subsidized flats from the Housing Development Board (HDB) or on the open market. The resale levy aims to reduce the subsidy amount for the second flat to maintain fair allocation of housing subsidies between first-time and second-time buyers. Under the revised 2006 policy, the resale levy is a fixed amount between $15,000-$50,000 depending on the flat type, providing more certainty for homeowners deciding whether to purchase a second subsidized flat. The policy change and applicable levy amounts are determined based on when the second flat application and first flat sale application are submitted.
Singapore citizens can purchase up to two subsidized flats from the Housing Development Board (HDB) or on the open market. The resale levy aims to reduce the subsidy amount for the second flat to maintain fair allocation of housing subsidies between first-time and second-time buyers. Under the revised 2006 policy, the resale levy is a fixed amount between $15,000-$50,000 depending on the flat type, providing more certainty for homeowners deciding whether to purchase a second subsidized flat. The policy change and applicable levy amounts are determined based on when the second flat application and first flat sale application are submitted.
Singapore citizens can purchase up to two subsidized flats from the Housing Development Board (HDB) or on the open market. The resale levy aims to reduce the subsidy amount for the second flat to maintain fair allocation of housing subsidies between first-time and second-time buyers. Under the revised 2006 policy, the resale levy is a fixed amount between $15,000-$50,000 depending on the flat type, providing more certainty for homeowners deciding whether to purchase a second subsidized flat. The policy change and applicable levy amounts are determined based on when the second flat application and first flat sale application are submitted.
Asannouncedon3March2006,theresalelevyisnowsetatafixedamountofbetween$15,000and$50,000,basedon theflattypeofthe1stsubsidisedflat.Withafixedamount,itwillgivegreatercertaintytoexistingflatownerswhoare decidingwhetherornottobuya2ndsubsidisedflatfromHDB. Therevisedresalelevypolicywillapplytosecond-timerapplicantswho: BooktheirsecondsubsidisedflatfromHDBon or after 03 Mar 2006,and Submittheirresaleapplicationtoselltheirfirstsubsidisedflat on or after 03 Mar 2006 Thecut-offdatetoapplytherevisedresalelevypolicyforthevariousmethodsofsubmittingresaleapplicationstoHDB isasfollows: Method of Submitting Application HDB-ResaleNetSystem e-Resale Cut-Off Date Based On DateofreceiptofapplicationviaResaleNet Dateofreceiptofapplicationviae-Resale
Amount Payable under the Revised Resale Levy Policy
Theamountofresalelevyisgradedaccordingtotheflattypeoftheflatowners'firstsubsidisedflat.Undertherevised policy,flatownerswhosefirstsubsidisedflatisa2-roomflatwillpayaresalelevyof$15,000.Thosewhosefirst subsidisedflatisa3-room,4-room,5-roomandExecutiveflatwillpayaresalelevyof$30,000,$40,000,$45,000and $50,000respectivelywhentheypurchaseasecondsubsidisedflat. First Subsidised Flat Type 2-room 3-room 4-room 5-room Amount of Resale Levy Payable under the Revised Policy (From 3 Mar 2006*) $15,000 $30,000 $40,000 $45,000
Therevisedresalelevyhasbeenimplementedfrom03Mar2006.Therevisedresalelevypolicywillapplyto2nd-timer applicantswho book their 2nd subsidised flat from HDB and submit their resale application to sell their first subsidised flat, both of which must be on or after 3 March 2006. ThefollowingflatownerswillcomeunderthePreviousResaleLevyPolicy: BookedasecondsubsidisedflatoranExecutiveCondominiumunitfromthedeveloperbefore3Mar2006. Thisisregardlessofwhethertheyhavesoldorsubmittedaresaleapplicationtosellthefirstsubsidisedflat, or Soldthefirstsubsidisedflatandoptedfordeferredresalelevy,or SubmittedaresaleapplicationtoHDBbefore3March2006forthesale oftheirfirstsubsidisedflat
Amount Payable under the Previous Resale Levy Policy
BelowarethechargesunderthePreviousResaleLevyPolicy,i.e.basedonresalepriceor90%ofmarketvaluation, whicheverishigher: Flat Type 2-room 3-room 4-room 5-room&Executive * +
Resale Levy payable by family grant recipient *10%/15% 20% 22.5% 25%
+Resale Levy payable by singles/half grant recipient *5%/7.5% 10% 11.25% 12.5%
