Can I rent out my HDB and stay in condo?
If you own a HDB and a condo, you can rent out either one or stay in both properties.
Can I Buy an HDB Flat If I Own a Condo? If you're a condo owner, you can't own an HDB flat at the same time. You would need to sell your condo before you can buy an HDB flat. Alternatively, you may buy a resale flat if you sell your condo within six months of moving in.
If you bought your flat new from HDB or bought a resale flat with a housing grant from CPF: You must have occupied your flat for at least 5 years. To rent out bedrooms only: Only bedrooms from HDB flats that are 3-room or larger can be rented out.
You must rent an HDB flat/ bedroom for at least 6 months. Owners can apply to rent out flat/ bedrooms for a maximum period of 3 years per application if their tenants are all Singaporeans or Malaysians. For application involving non-Malaysian non-citizens, the maximum rental period per approval is 2 years.
Unfortunately no, HDB deems both you and your spouse as a family nucleus hence both names need to be included to be eligible for the hdb resale purchase (ie. He has to sell away the private property). Alternatively, you can purchase a private property on your sole name.
Current flat owners may apply to change their flat ownership to include immediate family members who meet all eligibility conditions. If there is more than 1 proposed owner, they would need to decide on the manner of holding the flat upon the ownership change, whether by joint-tenancy, or tenancy-in-common.
Get More Space for Less Price HDBs offer more value for your money than condos. In terms of price per square foot, HDBs are a better deal. In addition, HDBs are a more affordable option than condos – you can upgrade the size of your home for less money.
The minimum rental period for each tenant must be 6 months per application. You are not allowed to rent out your bedrooms on a short-term basis, as it may disrupt the living environment and pose security concerns for our residents. The maximum rental period is: 3 years if all the tenants are Singaporeans or Malaysians.
HDB flats are public housing primary for Singaporeans' own stay. If you are thinking of renting them out long term to the same tenant, that's not allowed. Although the maximum subletting period is 3 years per application, it's reduced to 2 years if one or more subtenants is a non-Malaysian/non-citizen.
Eligibility Requirements To Rent An HDB Flat And Bedroom
First, the flat owner must fulfill their minimum occupation period (MOP) before they are allowed to rent out their entire HDB flat. This is five years for both new BTO flats and resale flats.
What is the minimum rental period in Singapore?
So what is the minimum rental period in Singapore? Very simply, the minimum rental period in Singapore is currently at 3 months for private condominiums, apartments and landed homes. For public housing or HDB, this is set at 6 months.
Tenancy and property ownership status
Tenants must not be tenants of public rental HDB flats or owners of other HDB flats unless they are: Divorced/ legally separated. In this case, only 1 party can rent a HDB flat from another flat owner. Owners who are eligible to rent out their whole flat.
How many HDB flats can you own? You are only allowed to own one HDB property at any one time. This includes other HDB properties such as executive condos (ECs).
A married couple is considered one family unit, and can thus only own one HDB flat at any one time. Individuals who each own an HDB flat before marriage are therefore given 6 months from the date of their marriage, to relinquish ownership of one of the flats they own.
Whoever inherits your HDB flat, they will need to meet HDB's eligibility conditions to own a flat in order to keep it. Otherwise it must be disposed of (e.g. sold). Typically, your next-of-kin will also inherit the outstanding mortgage along with the flat.
Can a minor inherit a HDB flat? Yes, a minor can inherit a HDB flat under the deceased's final will or under section 7 of the Intestate Succession Act if there is no will.
Presently, you are only allowed to do this with an immediate family member and for specific, valid reasons only. In the past, anyone who owned an HDB could initiate an ownership transfer to family members for any reason thinkable.
If the flat's sole owner or co-owner passes away, his interest in the flat will be distributed according to his will, or the provisions of the Intestate Succession Act if there is no will. A court order is required to obtain legal authority to administer the deceased's estate.
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. i.e married, or single above age 35 etc. Do take note of the stamp duty involved. You will also need to serve a new 5-year MOP upon the purchase.
Sell HDB flat first then Buy Condo
If you've already paid off the loan on your HDB flat, it doesn't matter whether you sell the HDB first or buy a condo first as you will be able to borrow the maximum possible @ 75% (provided your income supports it).
Is it worth to buy a condo in Singapore?
Condominiums have a high chance of appreciating in value
The local property market has been trending upwards for the past several decades, even showing resilience during the pandemic in the last two years. From 2010 to 2020, private property prices in Singapore rose by a whopping 53.6%.
A resale condominium allows you to have a more predictable rental income because you can gauge it based on what current, or past tenants are paying for their rent. As such, you are able to make a more informed choice as to whether the resale condominium will be worth it to invest.
Can buy resale HDB flat, but need to sell within six months. After selling your private property, you are allowed to buy a resale HDB flat. Note this caveat, though: You need to sell your private property within six months of your flat purchase.
| Buy New HDB Flat | Buy Resale HDB Flat |
|---|---|
| Can only buy after 30 months of selling the condo | Can buy anytime, just need to sell the condo within 6 months of the purchase |
| May need to rent during the wait | Can control the timelines a lot more to avoid having to rent |
1) For HDB owners
Owners of Housing Development Board (HDB) properties can invest in residential overseas properties only after fulfilling the Minimum Occupation Period (MOP) for five years. After the MOP, HDB flat owners can sell and rent the flat, and are able to invest in private property locally and overseas.
Whether a private property owner can inherit an HDB or not depends on when the original owner purchased the HDB flat. If the HDB flat was purchased before 30th August 2010, then you can keep both the properties – the private residential property and the inherited HDB.
