Where that number comes from
Why the bank stops there
What your HDB actually releases
Cash you need on completion day
After you move in
Estimates only, based on published MAS and IRAS rules as at 2026. Actual loan approval depends on credit assessment, and stamp duty rates can change. Confirm with a banker and a conveyancing lawyer before committing.
Your route to the condo
Five gates between your flat and the keys. Drag each one to where you're aiming and watch the gate open — or find out exactly what's holding it shut.
☛ Tap a gate, then drag its dial
The upgrader's timeline
Where the money actually moves, and where people get stuck.
The clock starts at keys, not at booking
Your Minimum Occupation Period runs from the day you collect keys, not the day you booked the flat. Five years from here.
Two things compound quietly
Your CPF accrued interest at 2.5% a year, which eats your cash proceeds. And your income, which raises your loan ceiling. The second one matters more.
Two paths, very different ground
Sell first and you pay no ABSD, but you'll likely need interim housing. Buy first and you pay 20% ABSD upfront on the condo, refundable only if the HDB sells within six months. On a $1.5M condo that's $300,000 you must find in cash, before your sale money arrives.
Test the ground first
An In-Principle Approval tells you your real loan ceiling before you fall in love with a unit. It costs nothing and it's the single step most upgraders skip.
What the new place actually costs to hold
Roughly 10–12 weeks from Option exercise for a resale condo. Budget for maintenance fees and property tax that are several times what you paid on the HDB.
Questions upgraders ask
Why is my budget lower than my agent's estimate?
Most quick estimates multiply your available funds by four and stop there. That assumes cash is your only constraint. In practice TDSR caps your loan at 55% of gross monthly income, stress-tested at a 4% interest rate rather than the rate you're actually offered. For a household earning $12,000 a month with a car loan, the income wall usually sits well below the cash wall.
Do I have to pay ABSD when upgrading?
Not if you sell your HDB before exercising the Option to Purchase on the condo. If you buy first, you pay 20% ABSD upfront as a Singapore Citizen buying a second residential property. Getting it back is narrower than most people assume: remission is only available to a married couple with at least one Singapore Citizen spouse, buying in both their names, who sell the first property within six months. A single buyer who buys before selling pays the ABSD and never gets it back.
Can I use my CPF refund for the new condo?
Yes. The CPF you used on the HDB, plus accrued interest, returns to your Ordinary Account on completion of the sale and can be applied to the new purchase. What it cannot cover is the minimum 5% cash downpayment, which must come from cash.
Does buying before selling reduce my loan-to-value limit?
Only if the HDB still has an outstanding housing loan when you buy. LTV is set by how many housing loans you already have running, not by the order you transact in. A fully paid-up flat leaves you at 75% LTV and a 5% minimum cash downpayment even if you buy before you sell, though ABSD still applies.
What loan tenure can I get?
To qualify for the 75% loan-to-value limit, the tenure must not exceed 30 years and the tenure plus your age must not exceed 65. Go beyond either and the LTV drops to 55%, which raises your cash requirement sharply. If you're 40, your maximum tenure at full LTV is 25 years.
Should I be worried about Seller's Stamp Duty?
Not on an HDB you've held through the five-year MOP. SSD applies to residential property sold within four years of purchase, at rates from 16% down to 4%, following the revision that took effect on 4 July 2025. It becomes relevant if you later sell the condo early.
Want someone to check your numbers?
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