Right-sizing Your Flat

If you own a bigger flat type, you can sell the existing flat and buy a smaller flat that is either a:
    • Smaller and cheaper flat from the resale market, or
    • Smaller flat from HDB, such as a 2- or 3-room flat

More information on selling your flat.

Silver Housing Bonus

The Silver Housing Bonus (SHB) is introduced to help elderly household supplement their retirement income when they right-size their flat.

If you buy a smaller flat type (up to 3-room flat), you can apply for the SHB and receive up to $20,000 cash bonus per household by using some of your net sale proceeds to top up your CPF Retirement Account (RA) and join CPF LIFE.

Eligibility Conditions

You are eligible for the SHB if you meet the following criteria:

  • At least one owner is a Singapore Citizen aged 55 or above
  • Gross monthly household income of $12,000 or less
Existing Property
  • HDB flat (met Minimum Occupation Period for resale), or private property of Annual Value of $13,000 or less; and
  • No concurrent ownership of second property
Property You Are Buying
  • Smaller HDB flat (up to 3-room) or Studio Apartment*; and
  • Purchase price does not exceed selling price of existing property
Housing Transactions
  • Booking of new HDB flat or application to buy resale flat must be: (a) before sale of existing property; or (b) within 6 months of completing sale of existing property
*The new 2-room Flexi Scheme will merge and replace the existing 2-room flat scheme and Studio Apartment (SA) scheme starting from the Sep 2015 BTO exercise.

How to compute net sale proceeds?

Net sale proceeds = Selling price of existing property less any outstanding loan on existing property, refund to CPF Account, resale levy, deductible of up to $15,000 for ancillary costs, and cash used for purchase of next property.

The amount to top up depends on the amount of net sale proceeds:

Net Sale Proceeds
CPF Top-up Requirement
Net Sale Proceeds
Keep in Cash
Cash Bonus
Less than $60,000
All net sale proceeds #
$1 for every
$3 top-up
$60,000 to $160,000
$60,000 #
$0 to $100,000
More than $160,000
$60,000 + Further top-up (i.e. Net sale proceeds – $60,000 – $100,000)^
$100,000 + Remaining after further top-up
# Top up into any flat owners’ CPF RA
^Top up into CPF RA of flat owner with lowest RA balance, up to the prevailing Full Retirement Sum (FRS)

For more information on SHB, you may:
Last Updated on 27 Aug 2015