Are you currently an HDB owner or occupant, curious about the feasibility of buying a condo in Singapore? If you’ve been pondering the question, “can I buy private property if I own HDB?” this article is here to provide you with comprehensive insights into the frequently asked questions and the regulations that govern such transactions.
Can HDB owner buy condo FAQs
The short answer to your query is affirmative: as an existing HDB owner, you can buy another condo too. However, the process comes with a set of stipulated rules and guidelines that you must navigate.
In this article, we delve into the nuances of this exciting prospect, shedding light on the possibilities and considerations that come into play.
Q: Can I own HDB and condo at the same time?
The aspiration of owning multiple properties represents a significant goal in Singapore. The initial step typically involves acquiring an HDB, which serves as the first achievable property purchase. Subsequently, as one’s career advances and financial stability solidifies, the opportunity to own an additional condo becomes a feasible and sought-after milestone.
As a Singapore Citizen, you have the flexibility to buy a condo without the obligation to sell your existing HDB. However, there are certain conditions that need to be met, such as adhering to the Minimum Occupation Period (MOP) of your existing HDB. During the MOP, you cannot rent out the residential property, you are prohibited from selling the HDB BTO unit or HDB resale flat on the open market and acquiring any private property, either within Singapore or overseas, is not permitted.
The commencement of the MOP is calculated from the date you receive the keys to your HDB BTO unit or HDB resale flat. It’s important to note that periods during which you did not reside in the property, such as when the entire property is rented out, or if there has been a violation of the MOP, are excluded from the MOP calculation.
However, if you are a Permanent resident, you will not be able to buy a second property if you already own a HDB unit under your name. You can, however, list yourself as an occupier of the HDB unit instead as its owner, which is a loophole for you and your spouse to be able to own HDB and condo at the same time. More on that later.
Read: Which Condo is Good for Investment in Singapore?
Q: Can I buy private property after buying HDB?
Yes, you can buy a private property after buying HDB but only after complying with the MOP. The specific duration of the MOP is contingent upon variables including your chosen purchase mode, the type of unit acquired, and the date of your flat application. More details on the applicable MOP are as follows:
| Types of HDB Sold Flats | MOP | Computation of MOP |
| Flats bought from HDB | 5 years Note: MOP for Prime Location Public Housing (PLH) flats is 10 years. | From date of taking possession/ transfer of your flat to the following dates, whichever is earlier:Date on which the Option to Purchase of private property is exercisedDate of the Sale and Purchase Agreement of the private property |
| Resale flats bought with CPF Housing Grant | ||
| Design, Build and Sell Scheme (DBSS) flats bought from developer | ||
| Resale flats purchased without CPF Housing Grant (for resale applications submitted on or after 30 August 2010) | ||
| Replacement flats bought from HDB under the Selective En bloc Redevelopment Scheme (SERS) (only if you have taken possession of the replacement flat) | For SERS sites announced before 7 Apr 2022 At designated replacement site(s):Either of the following, whichever is earlier:7 years from the date of selection of the replacement flat5 years from the date of collecting the keysWith portable rehousing benefits:5 years from the date of collecting the keysFor SERS sites announced on or after 7 Apr 20225 years from the date of collecting the keys | From date of taking possession/ transfer of your flat to the following dates, whichever is earlier:Date on which the Option to Purchase of private property is exercisedDate of the Sale and Purchase Agreement of the private property |
| Resale flats purchased without CPF Housing Grant (for resale applications submitted before 30 August 2010) | There is no need to satisfy the MOP before acquiring private residential property |
Read: 15 Cheapest Condos in Singapore
Q: What is a HDB occupier and can HDB occupier own private property?
According to HDB, a HDB occupier refers to your “immediate family members that form a family nucleus with the owner. This could be your spouse, children or adopted children, parents or parents-in-law or siblings.
A HDB essential occupier will be able to buy a private property or condo, however the MOP also has to be met. If you and your spouse are planning to purchase multiple properties, this is a huge benefit for you. If you only listed 1 spouse as the sole owner, the other spouse could purchase a private property without paying additional buyer stamp duty on the second property.
Read: How much Downpayment for Condo and this guide to buying a second property in Singapore to learn more about the latest Additional Buyer Stamp Duty (ABSD) news in Singapore
