Over eighty percent of Singaporeans currently call a public housing complex their home. This makes public housing the much more prevalent type of property ownership in the country. On the other hand, there are additionally private houses, and moving into one of them is often subjectively considered to be a step up towards the highest echelons of society. After a period of time spent residing in your lowly apartment, the thought may have occurred to you that you should either make some sort of improvement to it or look into purchasing a private residence, such as a condominium. You must get in touch with an expert before you decide to go for an HDB upgrade to Condo.

Your Minimum Occupation Period (MOP), which is the time period during which you are required to vacate your current residence before moving into a new one, must first have passed before you can even consider visiting a possible condominium's show apartment. This is a five-year commitment for the majority of HDB apartments and a ten-year commitment for Prime Location Housing complexes. Checking the My HDB Page portal, which should tell you when you will be eligible to sell your flat, is something you may do if you are unsure regarding your MOP date.

Putting In An Application To Register Your Intention To Sell

You cannot simply put your HDB unit up for sale on some random real estate website and call it a day. There are some requirements that must be met. It is extremely vital to register your intention to sell with HDB, and you, as the owner of the house, are the only person who can do so; your real estate agent is unable to do so on your behalf. In addition, this enables you to determine whether or not you are qualified to sell your apartment, and the registration process is completely free of charge.

The Notice of Intent to Sell will remain active for a period of one year; however, if you've not sold your property within that time period, you will need to re-register.

Being capable of affording the luxury of considering a home your own confers a certain air of affluence upon the owner of a private property, which is generally seen to be associated with wealth. The majority of people that live in Singapore are incredibly driven individuals who have a wide variety of goals and objectives for their lives. In the process of climbing the social ladder and establishing one's place in the higher echelons of society, the purchase of one's own private residence is an essential component in establishing one's riches and prestige. Because of this, many people consider it to be an aspirational target that they would like to work towards. All this is possible with an upgrade to Condo from HDB using the available schemes and the help of experts.