Condo near Harbourfr...
What Is Resale Levy?
You have to pay up the Resale Levy on your acquisition of your subsequent home when you have already acquired a new Executive Condominium (EC), obtained a CPF Housing subsidy for resale flat or when you have bought brand-new HBD Flat directly through HBD (DBSS, BTO etc.). EC without resale levy keeps up equilibrium of subsidies for those who are first time purchasers of HBD public housing properties as against to those second time purchasers by lowered total of the subsidy.
When is Resale Levy Payable?
Resale levy is payable when you:
* Purchase your first flat straight from HBD or if you are able to obtain a grant from CPF Housing, then sold it after getting the Minimum Occupation Period (MOP)
* Buy a new flat from HBD that is already subsidised.
* Buy an Executive Condominium straight from the developer where its land sale falls on or after 9 December 2013.
When is Resale Levy NOT Payable?
Resale Levey is non collectible when you:
* Acquire a private property
* Avail an HBD resale flat
* Obtain DBSS flat straight from developer
* Acquire an Executive Condominium which land sale was set up before 9 December 2013.
What is the Resale Levy amount?
The Resale Levy will be arranged in accordance to the 90% of the market valuation or resale price, whichever is higher.
First Subsidised Flat Resale Household Single Grant Recipients
2 rooms 10 or 15% 5 or 7.5%
3 rooms 20% 10%
4 rooms 22.5% 11.25%
5 rooms 25% 12.50%
Executive 25% 12.50%
* For 2 bedrooms flat owners who upgrades to a bigger unit.
For details, see https://www.propertyreview.sg/executive-condominium-ec-without-resale-levy/
15/02/2016 12:20 pm