Minimum Occupation Period
Minimum Occupation Period (MOP)
HDB flat owners must have physically occupied their flats for a period of time, referred to as Minimum Occupation Period - MOP, before they are eligible to sell it on the open market. The period will depend on the mode of purchase, the mode of financing and the flat type. If the flat owners have sublet the whole flat, the period of subletting will not be included in the computation of MOP.
A list of the requisite MOP is shown below:
(a) 1-Room and HUDC Flat
No occupation period for owners owning 1-room flat or HUDC flat.
(b) Direct purchase flat and Flat bought under the CPF Housing Grant Scheme
5 years from effective date of purchase.
(c) Flat bought under Selective En bloc Redevelopment Scheme (SERS)
7 years from date of flat selection (provided seller has taken possession of the replacement flat) or 5 years from effective date of possession of replacement flat, whichever is earlier and subject to HDB's prevailing policies.
If there is any period of subletting of the entire replacement flat (subject to HDB's prior approval), the MOP will be extended to make up for the subletting period. Flat owners who had enjoyed the SERS benefits more than once are not allowed to sell the replacement flat.
(d) Resale Flat bought in the open market (without CPF Housing Grant Scheme)
2½ years from effective date of resale if the owner takes a loan from HDB:
1 year from the effective date of resale if
i. the owner has not taken a loan from HDB; or
ii. he has refinanced HDB market interest rate loan with the bank/financial institution; or
iii. he has taken a loan from the bank/financial institution to finance the purchase; or
iv. he has fully redeemed the market interest rate loan obtained from HDB.
You may submit an e-Request on
Confirmation on the Computation of Requisite Occupation Period for the purpose of resale.
Minimum Occupation Period (MOP)
HDB flat owners must have physically occupied their flats for a period of time, referred to as Minimum Occupation Period - MOP, before they are eligible to sell it on the open market. The period will depend on the mode of purchase, the mode of financing and the flat type. If the flat owners have sublet the whole flat, the period of subletting will not be included in the computation of MOP.
A list of the requisite MOP is shown below:
(a) 1-Room and HUDC Flat
No occupation period for owners owning 1-room flat or HUDC flat.
(b) Direct purchase flat and Flat bought under the CPF Housing Grant Scheme
5 years from effective date of purchase.
(c) Flat bought under Selective En bloc Redevelopment Scheme (SERS)
7 years from date of flat selection (provided seller has taken possession of the replacement flat) or 5 years from effective date of possession of replacement flat, whichever is earlier and subject to HDB's prevailing policies.
If there is any period of subletting of the entire replacement flat (subject to HDB's prior approval), the MOP will be extended to make up for the subletting period. Flat owners who had enjoyed the SERS benefits more than once are not allowed to sell the replacement flat.
(d) Resale Flat bought in the open market (without CPF Housing Grant Scheme)
2½ years from effective date of resale if the owner takes a loan from HDB:
1 year from the effective date of resale if
i. the owner has not taken a loan from HDB; or
ii. he has refinanced HDB market interest rate loan with the bank/financial institution; or
iii. he has taken a loan from the bank/financial institution to finance the purchase; or
iv. he has fully redeemed the market interest rate loan obtained from HDB.
You may submit an e-Request on
Confirmation on the Computation of Requisite Occupation Period for the purpose of resale.
No comments:
Post a Comment