EC Today – With/Without RESALE LEVY applies to 2nd Timer

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RESALE LEVY APPLIES TO SECOND-TIME BUYERS 

Second-timer Applicants purchasing EC units directly from developers will now have to pay a resale levy, just like second-timer applicants purchasing BTO flats.

The new levy will apply to land sales launched on or after 9 December 2013, including those where the tenders have not closed.

At the moment, second-timer applicants purchasing EC units directly from developers benefit from lower prices due to the initial eligibility and ownership restrictions imposed on EC buying. Hence, second-timer still may consider new launches even though that is affecting them. Due to their priority preference, they may not mind the RESALE LEVY imposed.

However, there are some existing launched EC with available balance units which are not affecting second-timer on RESALE LEVY.

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An Executive Condominium resale levy is payable for 2nd timers applicants when buying a second subsided HDB flat or some Executive Condominiums. The brand new requirement on 2nd timer buyer to pay resale levy for buying executive condo is imposed on EC property land sales launched on or after December 9, 2013 including the ones that have closed their tenders yet.

On or after 3 March 2006. The amount payable according to the flat type of first subsidised flat:
Flat Type Amount
2-room* $15,000
3-room $30,000
4-room $40,000
5-room $45,000
Executive Flat (EA /EM) $50,000
Executive Condominium bought with CPF housing grant where the land sale was launched before 9 Dec 2013 $55,000
Executive Condominium where the land sale was launched on or after 9 Dec 2013 $55,000
*Buyers of short lease 2-room flat will pay a prorated amount base on the lease of their 2-room flat.

Between 19 May 1997 and 2 March 2006. The amount is based on the resale price or 90% of the market valuation of your first subsidised flat, whichever is higher. An accrued interest of 5% a year (up to the month payment is made) if you opted to defer the payment of the resale levy. The accrued interest will be calculated from the point resale of your first subsidised flat to the date you pay the resale levy.

Flat Type Amount
2-room *10% / 15%
3-room 20%
4-room 22.5%
5-room & Executive 25%
* 2-room flat sellers pay a lower rate, that is, only 10% if they buy a bigger flat direct from HDB.

Before 19 May 1997.  If flat sold during this period, were given two options at the point when sold first subsidised flat: Resale Premium 10 or 20% of the purchase price of the second subsidised flat bought from the HDB.
If buying next flat from the HDB, the resale premium will be included into the purchase price of second subsidised flat.
OR Graded Resale Levy
The amount is based on the resale price or 90% of the market valuation of first subsidised flat, whichever is higher. An accrued interest of 5% a year (up to the month payment is made) if opted to defer the payment of the resale levy.

Flat Type Amount
2-room 5%
3-room 10%
4-room 15%
5-room 20%
Executive 25%
The resale levy payable is determined at the point booking second subsidised flat. Payment can only be made by way of flat sale proceeds and/ or cash.

Example shown in chart estimated on resale levy charges

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Sales proceed

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