Eligibility to buy Studio Apartment
 

Find out whether you are eligible to buy a Studio Apartment.

Eligibility Conditions
Other Information




Eligibility Conditions

Citizenship

You must be a Singapore Citizen


Age

You must be at least 55 years old at the time of application.

If the other applicant(s) (if any) are your spouse, parents, siblings or children, they must be:If your other applicant(s) are other than those people described on the left, they must be:
  • Singapore Citizens or Singapore Permanent Residents (SPRs), and,
  • At least 21 years old at the time of application
  • Singapore Citizens, and,
  • At least 35 years old at the time of application


Family Nucleus

You must include your spouse in your application.

If you are unmarried, divorced or widowed, you may apply for a Studio Apartment for your own occupation.


Income Ceiling

The average gross monthly household income of all persons listed in your application must not exceed $10,000.

More information on the income guidelines


Ownership / Interests in HDB Flats

If you own or have a share in an HDB flat, whether bought directly from the HDB or from the open market, you may still
  • Apply for a Studio Apartment
  • Be listed as an occupier in a Studio Apartment application

However, you must dispose of your share in the flat within 6 months from the date of taking possession of the SA. If you fail to do this, you will have to:
  • Surrender the Studio Apartment to the HDB, and,
  • Forfeit a sum equivalent to 5% of the purchase price and/or any other amount as determined by the HDB

The sale of your current flat in the open market is subject to HDB's approval and resale policies, rules and regulations at the time of sale.

If you have previously sold two flats bought with housing subsidies, you can still apply for a Studio Apartment.


Ownership in Private Property

If you currently own or have a share in a private property*, you may still:
  • Apply for a Studio Apartment
  • Be listed as an occupier in a Studio Apartment application

You must finalise the disposal of your private property or share in the private property before taking possession of the SA. If you fail to do so:
  • Your application will be cancelled, and
  • You will forfeit the option fee and/or any other amount as determined by the HDB.

* includes but not limited to:
  • HUDC flats (Privatised and Non-Privatised)
  • Properties acquired by gift
  • Properties inherited as beneficiaries under a will or as a result of the Intestate Succession Act
  • Private properties
  • Properties owned/acquired/disposed through nominees regardless of properties location



Time Bar

You can apply for an SA if you, your spouse or any of the essential occupiers listed in the application is an existing owner or ex-owner of a:
  • flat bought directly from HDB,
  • resale flat bought under the CPF Housing Grant Scheme,
  • DBSS flat bought from the developer, or
  • EC bought from the developer.

This is on condition that a 5-year period (excluding any period of subletting of the whole flat) has lapsed from the *date of taking possession of the flat to the date of application for a flat.

If more than one applicant owns HDB flats, only the applicant who is an Singapore Citizen and aged 55 years or above needs to satisfy the 5-year occupation period.

* The date of taking possession refers to:
    • The date of key collection, for flats that are bought directly from HDB
    • The date of resale completion, for purchase of resale flats from the open market bought with the CPF Housing Grant
    • The date of transfer at market value of the flat bought with CPF Housing Grant
    • The date of key collection for Executive Condominium/DBSS flats bought from the developer, whichever is applicable.



Offset of Resale Levy

Have you sold your first subsidised flat and paid the resale levy, and are now buying a Studio Apartment (SA) instead of a second subsidised flat? The resale levy which you have paid can be used to offset the purchase price of the SA.

Amount of Resale Levy

Where the amount of resale levy paid is more than the selling price of the SA, HDB will only offset the levy up to the selling price of the SA.

The following will not be considered as part of the selling price of the SA :

  • Stamp fees,
  • Conveyancing fees, and
  • Other miscellaneous charges incurred for the purchase of the SA





Use of CPF

You may use your CPF savings in the Ordinary and Retirement Accounts to pay for the purchase of the SA if you are aged 55 years and above. This is after you have set aside at least the full cash component of the minimum sum.

Pledging the SA for the Amount of CPF Used

The SA will be pledged for the amount of CPF used, up to the maximum pledge allowed under the Minimum Sum Scheme.

Last Updated on 02 Sep 2014
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