SgPropertyInvesting guide
Selling Your HDB to Buy a Condo: Timeline, ABSD and Cash Flow (2026)
Most HDB-to-condo upgraders face one question: sell first or buy first? The answer decides whether you pay 20% ABSD upfront, where you live in between, and how much cash you need on hand.
Last checked against official sources: 17 October 2026 (IRAS, HDB, CPF, MAS). General information only, not financial, legal or tax advice. Your bank, lawyer and HDB will confirm what applies to you.
The short answer
- Sell first: once your flat's buyer has exercised the Option to Purchase (OTP), IRAS no longer counts your flat. A Singapore Citizen (SC) buying what is then their only home pays no ABSD (IRAS, ABSD: property count; IRAS, stamp duty rates).
- Buy first: an SC buying a second home pays 20% ABSD (rate for purchases on or after 27 April 2023). A married couple who buy jointly can get it back if they sell the flat within 6 months and meet IRAS's other conditions (IRAS, Remission of ABSD for a married couple). Stamp duty is due within 14 days of signing if you sign in Singapore (IRAS, When to pay stamp duty).
- Selling first costs you a place to live for a while. Buying first costs you cash: the ABSD, plus a bigger downpayment if your HDB loan is still outstanding.
Before you start: the MOP
You can't buy private property, in Singapore or overseas, until your flat has met its minimum occupation period (MOP). That is 5 years for an unclassified or Standard flat and 10 years for a Plus or Prime flat (HDB, Conditions after buying a resale flat, updated 28 July 2026; HDB, Conditions after buying a new flat, updated 18 August 2026). The MOP runs from when you took possession to the date you exercise the OTP or sign the Sale and Purchase agreement for the private property. Signing during the MOP isn't allowed, even for a unit still under construction. Months when the whole flat was rented out don't count (HDB, Acquiring private property).
After the MOP, an SC household may keep the flat while buying private. If every owner of the flat is a Singapore Permanent Resident (PR), HDB must be told first, and the flat must be sold within 6 months of buying the private property (HDB, Acquiring private property).
Option A: sell first
HDB's resale steps, from its seller pages (checked 17 October 2026):
- Register an Intent to Sell on My Flat Dashboard. You must wait 7 days before you can grant an OTP (HDB, Option to Purchase).
- Grant the OTP. The buyer has 21 calendar days to exercise it, and the option fee and exercise fee together can't exceed S$5,000 (HDB, Option to Purchase).
- After the buyer exercises the OTP, both sides submit the resale application, within the number of days agreed in the OTP and within 7 calendar days of each other (HDB, Resale application).
- If the application is in order, HDB notifies both sides of its acceptance within 28 working days (HDB, Resale application). The documents are ready to sign about 3 weeks after acceptance (HDB, Approval of application), and completion is about 8 weeks after acceptance (HDB, Resale completion). HDB won't bring that date forward. So from submitting the resale application to completion can take up to about 14 weeks.
The interim housing risk. You must move out by completion. If you have already committed to a completed property (OTP exercised or Sale and Purchase agreement signed when you submit the resale application), your buyer can agree to let you stay up to 3 more months. That's the limit, and it's the buyer's choice (HDB, Temporary extension of stay). If you're buying a new launch, there's no extension. You'll need to rent or move in with family until the condo gets its TOP, which can be years away.
The timing is tight but doable: the ABSD count drops your flat as soon as your buyer exercises the OTP, which is before HDB completion. So you can exercise the condo OTP after that point without the 20% (IRAS, ABSD). If your buyer walks away instead, you haven't committed to anything.
Option B: buy first, then claim the ABSD back
IRAS's conditions for a married couple buying a second home, under the Stamp Duties (Spouses) (Remission of ABSD) Rules (IRAS, checked 17 October 2026):
- The new home is bought jointly in the names of both spouses only, and at least one is an SC.
- On the date of the purchase, neither spouse owned an interest in more than one residential property.
- The ABSD has been paid.
- The first property is sold within 6 months (see the clock below).
- You're still married and the new home's ownership hasn't changed when the first property is sold, and you haven't bought any other home in between.
The 6-month clock. For a completed condo, the 6 months run from your purchase date: the date you accept the OTP or sign the Sale and Purchase agreement. For a new launch bought before it is completed, they run from the TOP or the Certificate of Statutory Completion (CSC), whichever comes first. "Sold" means the date your flat's buyer accepts the OTP or signs the agreement, not HDB completion (IRAS, Remission of ABSD for a married couple). IRAS says it won't extend the 6 months, and encourages couples to market the first home early at realistic prices or find a buyer before they buy.
Getting the money back. For stamping from 2 July 2023, IRAS refunds the ABSD automatically within 6 weeks of the stamping of your flat's sale if you meet the conditions, and if you declared your intention to sell your flat and claimed the refund in the e-Stamping form when you stamped the condo purchase. You don't need to apply separately. Earlier cases apply through myTax Portal within 6 months of the sale (IRAS).
Single buyers and couples with no SC spouse can't use this remission. More on the rates in our ABSD guide and second-property ABSD guide.
Worked cash-flow example (illustration only)
These are round example numbers, not a forecast or a typical case. Your own figures will differ. An SC married couple, both first-time sellers, own one HDB flat and buy a S$1,600,000 condo jointly. They sell the flat for S$700,000. Their HDB loan has S$150,000 outstanding, and they used S$250,000 of CPF including accrued interest. We ignore agent, legal and other fees.
| Step | Option A: sell first | Option B: buy first |
|---|---|---|
| Flat sale price | S$700,000 | S$700,000 |
| Less outstanding HDB loan | −S$150,000 | −S$150,000 |
| Less CPF refund to the couple's Ordinary Accounts (principal + accrued interest) | −S$250,000 | −S$250,000 |
| Cash proceeds | S$300,000 | S$300,000, but only after the flat sells |
| Condo bank loan (LTV) | 75%, if you give the bank HDB's letter approving your flat's sale before it pays out: S$1,200,000 | 45%, because the flat isn't sold when the bank pays out: S$720,000 |
| Downpayment | 25% = S$400,000, of which at least 5% (S$80,000) in cash | 55% = S$880,000, of which at least 25% (S$400,000) in cash |
| Buyer's stamp duty (BSD) | S$49,600 | S$49,600 |
| ABSD at 20%, due within 14 days | S$0 | S$320,000, refunded if the conditions are met |
How we got there. The CPF refund goes back to your CPF account, not to you, and you can use it for the next home. If the sale price can't cover the loan and the full CPF refund, you refund only what's left after the loan, as long as you sold at market value (CPF, Refund when selling, updated 11 June 2026). HDB's sale proceeds calculator does the same subtraction with your own numbers. BSD on S$1,600,000 is 1% of the first S$180,000, 2% of the next S$180,000, 3% of the next S$640,000, 4% of the next S$500,000 and 5% of the last S$100,000: S$49,600. ABSD is 20% of S$1,600,000: S$320,000 (IRAS, stamp duty rates). LTV and minimum cash are from MAS's table for OTPs granted on or after 6 July 2018 (MAS, LTV limits). The lower LTV tier (55% with no other loan, 25% with one) applies if the tenure runs past 30 years or past age 65.
What it means. Under Option B, the couple needs about S$1,250,000 (S$880,000 downpayment, S$49,600 BSD and S$320,000 ABSD) before the flat sells, and the S$300,000 from the flat arrives only later. Under Option A it's about S$450,000 (S$400,000 downpayment and S$49,600 BSD), which the flat's sale helps fund. That gap is why most upgraders sell first. Not all of it has to be cash: MAS sets the cash floor, and CPF can usually cover part of the rest. See cash needed to buy a condo and run your own numbers in the stamp duty calculator.
Loans: TDSR and a second housing loan
Banks must keep your total monthly debt repayments, including the new loan, within 55% of gross monthly income: the total debt servicing ratio, or TDSR (MAS, MSR and TDSR rules; MAS, Rules for new housing loans, checked 17 October 2026). If you buy first, the HDB instalment counts alongside the condo loan, so a household that passes easily under Option A may not pass under Option B. The 30% mortgage servicing ratio applies only to HDB flats and ECs still within their MOP, so it doesn't cap a condo loan.
With one housing loan still outstanding, the maximum LTV drops from 75% to 45% (or 25% at the lower tier), and the minimum cash downpayment rises from 5% to 25% (MAS, LTV limits). Your HDB loan counts as an outstanding housing loan. The bank can still lend up to 75% if, before it pays out the condo loan, you give it HDB's letter approving your flat's sale. Without that letter it can lend only 45% (MAS Notice 632, last revised 21 August 2025, para 30(o) and paras 8(a)(ii) and 9(b)(ii)). If the condo completes before HDB approves your sale, the bank may only lend 45%. Ask the bank to confirm in its letter of offer that 75% applies once you hand in HDB's approval letter, and set the condo completion date to allow for this. Check your numbers in our mortgage and TDSR check.
Week-by-week timeline
Week numbers are an illustration of a smooth case. Real dates depend on your buyer, HDB's processing and the developer.
Option A: sell first
| When | What happens |
|---|---|
| Week 0 | Register Intent to Sell. 7-day wait before you can grant an OTP. Get a bank In-Principle Approval for the condo loan. |
| Week 1–3 | Grant the OTP to your flat's buyer. They have up to 21 calendar days to exercise it. |
| Week 3–4 | Buyer exercises the OTP. Your flat drops out of the ABSD count. You exercise the condo OTP: no ABSD for an SC buying what is now their only home. BSD is due within 14 days of signing. |
| Week 4–5 | Both sides submit the resale application within the agreed days and within 7 days of each other. Ask for the 3-month extension of stay here if the condo is completed. |
| Up to about week 10–11 | HDB notifies acceptance within 28 working days of a complete application. |
| HDB acceptance + about 3 weeks | Sign the resale documents and pay fees. HDB's approval follows about 2 weeks after. Give the approval letter to your condo bank before it pays out, so it can lend 75%. |
| HDB acceptance + about 8 weeks (up to about 14 weeks after you submit) | Resale completion. The loan is repaid and CPF refunded from the proceeds. Move out, or stay up to 3 months if agreed. |
| Until condo keys | Interim housing if your new home isn't ready. |
Option B: buy first
| When | What happens |
|---|---|
| Week 0 | Exercise the condo OTP or sign the Sale and Purchase agreement. For a completed condo, the 6-month clock starts now. |
| Within 14 days | Pay BSD and 20% ABSD (signed in Singapore). |
| Week 0–1 | Register Intent to Sell for the flat. 7-day wait. Price it to sell. |
| By week 26 (completed condo) | Your flat's buyer must have accepted the OTP, if you want the refund. For a new launch, the deadline is 6 months after TOP or CSC, whichever is earlier. |
| After the flat sells | Resale application; HDB notifies acceptance within 28 working days, and completion is about 8 weeks after that. You move straight into the new home. |
| Within 6 weeks of the sale being stamped | IRAS refunds the ABSD automatically if you qualify (stamping from 2 July 2023) and claimed the refund in the e-Stamping form when you stamped the condo purchase. |
Sources: HDB, OTP; HDB, Resale application; HDB, Approval; HDB, Completion; HDB, Extension of stay; IRAS, ABSD remission; IRAS, When to pay. All checked 17 October 2026.
Common questions
Can I buy a new launch condo before selling my HDB?
Yes, after your flat's MOP. You pay 20% ABSD within 14 days if you're an SC buying a second home. If you're a married couple buying jointly and meet IRAS's conditions, the deadline to sell the flat is 6 months after the condo's TOP or CSC, whichever is earlier, and the ABSD is refunded.
What if my HDB flat doesn't sell within 6 months?
You lose the ABSD refund. IRAS says it won't extend the 6 months, even for weak markets or personal reasons, so price the flat to sell or find a buyer before you buy.
Is the 6 months counted from the OTP or from completion?
From the OTP, for a completed condo: the date you accept the condo's OTP or sign the agreement. The flat counts as sold when your buyer accepts its OTP, not on HDB completion. For an uncompleted new launch, the 6 months start from TOP or CSC, whichever is earlier.
Can PRs sell an HDB flat to buy a condo?
Yes, after the MOP, but the rules are stricter. If every owner of the flat is a PR, you must tell HDB before buying and sell the flat within 6 months. A PR buying a second home pays 30% ABSD, and the married-couple remission needs at least one SC spouse.
Do I have to apply to IRAS for the ABSD refund?
Not for stamping from 2 July 2023. IRAS refunds it automatically within 6 weeks of your flat's sale being stamped, if you meet the conditions and if you declared your intention to sell your flat and claimed the refund in the e-Stamping form when you stamped the condo purchase. Earlier cases apply through myTax Portal within 6 months of the sale.
Next steps
- Get our First-Home Buyer Playbook: the loan tests, cash vs CPF, stamp duties and the viewing-to-keys checklists in one PDF, every figure linked to its official source. See what's inside.
- Selling? Read Sell & Exit first.
- Moving in? Download the free First-Home Buyer Checklist.
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