Busted the income ceiling? Frustrated by the long BTO wait? Found private property too expensive? An HDB resale flat might just be the housing option to go for. Before you start hunting for a resale flat, here’s what you need to know about the HDB resale eligibility criteria.
Why do people choose to buy an HDB resale flat over BTO?
Buying an HDB resale flat has both its pros and cons. The most common reason why people choose to get a resale flat is the short waiting time. For instance, the resale buying process usually takes three months, from putting down the option fee to the key collection.
Of course, there are other advantages associated with getting a resale flat, such as being able to scope out who your neighbours are, and there is no income ceiling.
The downside? Resale flats are usually more expensive than new BTO flats, and there would probably be a need for a more extensive renovation, adding on to the expenses.
However, there is no denying the popularity of resale flats, with 23,427 units sold in 2020 – an increase of 4.3% compared to 2019. Prices have also been increasing in the past few quarters.
This uptick was partly fuelled by the new policies rolled out in the first half of 2019, which allowed more flexibility in using CPF savings to buy ageing flats, among other initiatives. Construction delays have also driven more people to buy resale flats.
With that said, purchasing an HDB resale flat is still subject to eligibility, with several schemes in place. It can get a little confusing, so here is a handy guide to help steer the path to buying a resale flat.
What to take note of before buying an HDB resale flat?
Before we get on with the HDB resale eligibility, take note of these conditions, which prevent you from buying one:
- Currently own an HDB flat. If you do, the existing flat must be disposed of within six months of the resale purchase. The same rules apply if any of the applicants own private property in Singapore or overseas
- Ethnic Integration Policy (EIP) and Singapore PR (SPR) quota of the block or neighbourhood. You can check the eligibility quota, which is refreshed monthly, on the HDB website.
HDB resale flat eligibility criteria
Here are the schemes and eligibility criteria you can apply under to buy an HDB resale flat.
Public Scheme
This is for Singapore Citizens or Singapore Permanent Residents (SPRs) who are married or are applying with their family.
Eligibility criteria:
- The applicant must be 21 years old and above
- Have one listed applicant who is also an SC or SPR (e.g. father or spouse of the applicant)
- SPRs applying with their SPR-only family must have received their residency status for at least three years before the purchase. In addition, they must also meet the SPR quota for their block and estate
Fiancé/Fiancée Scheme
Engaged couples who would like to own a home without the long wait for a BTO flat can buy a resale flat under the Fiancé/Fiancée Scheme.
Eligibility criteria:
- Both applicants must either be an SC or SPR
- The applicants must be 21 years old and above. Those between 18 and 21 years old must have consent from their parents, while those below 18 years old must submit their Special Marriage Licence issued by the Ministry of Social and Family Development
- The applicants must solemnise their marriage with the Registry of Civil Marriages or Registry of Muslim Marriages within three months from the resale completion date
- Divorced applicants must also submit the following divorce documents: Interim Judgement, Order of Court and Final Judgment
Single Singapore Citizen Scheme
This is for the singles. Under this scheme, unmarried Singapore Citizens above 35 who wish to own public housing can buy a resale flat.
Eligibility criteria:
- If unmarried, the application must be a Singaporean aged 35 and above
- If widowed or orphaned, the application must be above 21 years old
- For orphaned applicants, at least one deceased parent must have been an SC or SPR. They should also not have a sibling below 35 years old owning an HDB flat under the Orphans, Single Singapore Citizen or Joint Singles schemes if the orphaned applicant is below 35 years old
Joint Singles Scheme
With this scheme, singles can also opt to jointly buy a resale flat with one to three other fellow Singaporeans.
Eligibility criteria:
- All applicants must be SCs
- Unmarried or divorced SCs must be 35 years old or above, and widowed or orphaned SCs must be 21 years old or above
- Only joint purchasing is allowed, in which each SC will be listed as a co-applicant
Non-Citizen Spouse Scheme
As an SC, if you’re married to a foreigner, you can still buy an HDB resale flat if you meet the following eligibility criteria.
Eligibility criteria:
- If the applicant is between the ages of 21 and 34, the spouse must have a Long Term Visit Pass (LTVP) or Work Pass (WP) valid for at least six months at the time of the resale flat purchase submission
- If the applicant is above the age of 35, the spouse must have a valid Visit Pass or Work Pass at the time of resale flat purchase submission
- The non-citizen spouse will be listed as an occupier since foreigners cannot own public housing
But if you have a child that’s an SC or SPR, you can buy the resale flat under the Public Scheme instead.
Orphans Scheme
As an orphan, you can buy a resale flat with your siblings through this scheme.
Eligibility criteria:
- Applicants must include at least one single SC or SPR sibling as a co-applicant or occupier in their application
- At least one of the applicant’s deceased parents must have been an SC or SPR
- Those below 35 years old must not have another sibling below 35 years old buying or owning another flat under the Orphans, Single Singapore Citizen or Joint Singles schemes
Non-Citizen Family Scheme
This is for single Singapore citizens who would like to buy a resale flat with their family members, including parents, who are neither SCs nor PRs.
Eligibility criteria:
- Applicant must be at least 21 years old
- The applicant must form a family nucleus with their parents and/or siblings
- For widowed or divorced applications, it will be with children under their legal custody
- At least one parent or child must have an LTVP or WP valid for at least six months at the time of resale flat purchase submission
Conversion Scheme
This is more for families who need bigger homes. The Conversion Scheme allows families to buy adjoining 3-room or smaller flats to convert them into a larger unit, i.e. a jumbo flat.
Eligibility criteria:
- The main applicant must be an SC or PR
- At least one listed occupant must be SC or PR
- There must be a family nucleus consisting of either the spouse and children (if any), parents and siblings (if any), or children under the legal custody, care and control for widowed or divorced applicants
If you’re planning to DIY your own jumbo flat, be sure to check out the Conversion Scheme procedure here for more information.
Still confused by the different schemes available? Another way to find out about your HDB resale flat purchase eligibility is to register your Intent to Buy through the HDB Resale Portal — doing so it’s free!
Would you buy an HDB resale flat? Let us know in the comments section below or on our Facebook post.
If you found this article helpful, 99.co recommends Your Question Answered: Can a Singapore PR buy an HDB flat? and 4 ways an essential occupier can help with your HDB BTO or resale flat purchase, grants, etc.
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Frequently asked questions
Can two PRs buy HDB?
For public housing, PRs can only buy an HDB resale flat. They’ll also have to form a family nucleus and be a PR for at least three years before they can buy one.
Can I buy a resale HDB flat after 35?
Yes, you can buy a resale HDB flat from age 35 onwards if you’re single under the Single Singapore Citizen Scheme and Joint Singles Scheme.
Can singles buy a 5-room resale HDB flat?
Yes, unlike BTO, there’s no restriction on the flat type that singles can buy.
The post HDB resale eligibility: Can you buy a resale flat? appeared first on 99.co.
