Should I sell my HDB after 5 years?

Should I sell my HDB after 5 years?

Your HDB has reached Minimum Occupation Period (MOP) in year 2021. The MOP is usually 5 years for most HDB properties including Executive Condominiums. Until you have reached this MOP, you are obliged not to sell your property on the open market or rent out the entire unit.

What is mop condo?

Resale restrictions Public housing comes with a Minimum Occupancy Period (MOP). You have to live in the property for five years before you can rent out the whole flat, or sell it.

Can PR buy EC after 5 years?

Can Single PR Buy Resale EC After 5 Years? Yes, you can buy a resale EC after MOP.

Can I buy HDB if I own EC?

Yes, you will be able to purchase a HDB resale flat once you fulfill the MOP for your EC. However, do take note that you will be required to sell off your EC latest 6 months upon the purchase of your HDB flat.

What happen to EC after 10 years?

An EC after 10 years is still classified as Executive Condominium. Just that the restrictions are lifted and it can be transacted like a normal condominium. After 10 years, all restrictions will be released and it will be like any other private unit on the free market.

Can I sell my HDB to my parent?

Yes, your parents can sell you the flat at a lower price, provided you meet all the eligible conditions of owning a HDB resale flat.

Why do people sell their HDB after 5 years?

That BTO flat that you and your spouse bought, is about to reach its long awaited five year minimum occupancy period. That means you have the option of selling it.

Can you own 2 HDB?

Can I buy a second HDB flat? Yes, you may purchase a second HDB flat. However, you will need to sell your current HDB unit within six months of collecting the keys of the new flat.

Can rent during mop?

HDB owners would be familiar with the Minimum Occupation Period (MOP), which is basically the period of time a landlord must occupy an HDB flat before selling/renting it. Obviously, this means you can’t rent out or sublet your room/unit if you have not fulfilled your MOP, so it’s important to be mindful of this.

Can PR buy Pinnacle?

Pinnacle @ Duxton is an HDB flat. Only Singapore Citizens or Singapore Permanent Residents are eligible to purchase it from the resale market under any of HDB’s eligibility schemes.

Can a PR own property?

The only way for a PR to legally buy a BTO flat is by marrying a Singapore Citizen. If you already tied the knot with a Singapore Citizen, both of you can acquire a BTO flat via the Housing Board’s Public Scheme or Non-Citizen Spouse Scheme.

What is MOP (Minimum Occupation period)?

MOP (Minimum Occupation Period) is the minimum period that one has to physically stay in their HDB property before renting/selling it out. It starts from the day that you collect your keys. Can I sell my HDB before meeting the five years MOP?

What is the Minimum Occupation period for an HDB flat?

The Minimum Occupation Period is calculated from the date you collect the keys to your flat Before you sell your HDB flat in the open market, you must fulfil a set of eligibility conditions before you can sell it.

Can I apply for a BTO after mop?

No, you may only apply for a BTO after your MOP has been met. Can I own two HDB flats? No, you can only own one HDB property at a time. This applies to all types of HDB-owned housing, including ECs, HDB terrace houses and DBSS. Get expert advice for every question you can think of!