Is now a good time to upgrade?
Upgrading from an HDB flat to a private condominium is one of the biggest financial decisions a Singapore household will make. With new launch prices stabilising in 2026, many HDB owners are taking a fresh look at the numbers.
Step 1 — Check your eligibility
You must have fulfilled the Minimum Occupation Period (MOP) of 5 years before you can sell your HDB flat. Once MOP is met, you are free to purchase a private property concurrently or after selling.
Step 2 — Understand the ABSD implications
If you buy before selling, you will incur 20% Additional Buyer's Stamp Duty (ABSD) on the second property as a Singapore Citizen. You can apply for a refund of the 20% ABSD if you sell your HDB within 6 months of purchasing the new private property.
Step 3 — Work out your CPF and cash position
Your CPF Ordinary Account balance, accrued interest, and any outstanding HDB loan must be returned to CPF upon sale. The net proceeds after CPF refund form your equity for the upgrade.
Step 4 — Get an In-Principle Approval
Apply for an IPA from a bank before committing to any purchase. The Total Debt Servicing Ratio (TDSR) caps your monthly repayments at 55% of gross monthly income.