What is Resale Levy about?
Resale levy is payable for second-timer when buying certain Executive Condo (EC). Here we emphasize the word “certain” because not all EC is subject to resale levy.
If previously you have bought a new flat from HDB, DBSS or EC from a developer, or received CPF housing grant, then you are categorised into second-timer. Therefore, you must check whether you need to pay for resale levy before you purchase the EC. If you have not bought any new flat or EC or did not enjoy CPF Housing Grant before, you are categorised into first-timer.
Half-Resale Levy for Singles Grant Before
If you have took Singles Grant before, you only need to pay half the levy amount when you form a family and buy a second subsidised flat.
Situations Which Resale Levy is Payable?
- When you buy a second subsidized flat from HDB.
- When you buy an EC from a developer where the government land sale was launched on or after 9 December 2013.
Situations Which Resale Levy is Non-Payable?
Resale Levy Amount Payable:
1) If Your First Subsidised Flat Sold on or after 3 March 2006
This fixed levy amount facilitates your financial planning, whether you want to plan for upgrading to a larger flat, or right-sizing to a smaller flat.
2) If Your First Subsidised Flat Sold before 3 March 2006
For cases where the first subsidised flat was sold before 3 March 2006, a different percentage of levy applies.
*Only applicable to 2-room flat sellers that upgrade to a larger flat type.
If the graded levy was not paid when you sold the first subsidised flat, i.e. you opted to defer the payment until you purchase/ take over another HDB flat, interest at a prevailing rate of 5% per annum is charged.
When and how payment is made