Can You Really Afford to Upgrade from HDB to Condo?
Estimate your HDB sale proceeds, condo budget, upfront costs, CPF usage and monthly mortgage in four short steps. No sign-up needed — your answers stay in your browser.
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Upgrading from HDB to condo: common questions
Do I pay ABSD if I buy the condo before selling my HDB?
Yes. As a second home, Singapore Citizens pay 20% ABSD and Permanent Residents 30% upfront, within 14 days. A married couple that includes a Singapore Citizen and buys in both names can get it refunded if the HDB is sold within 6 months of buying a completed condo (or within 6 months of TOP/CSC for a new launch). The calculator never assumes that refund.
Why is my loan smaller if I buy first?
While your HDB loan is still outstanding, a new condo loan is your second housing loan. MAS then caps it at 45% of the price (instead of 75%) and requires at least 25% in cash (instead of 5%).
Can I use my CPF refund from the HDB sale?
Yes — the CPF you used plus accrued interest goes back to your Ordinary Account and can be used for the condo, within CPF’s limits. If you are 55 or older, refunds first top up your Retirement Account to the Full Retirement Sum. If the sale price is not enough to refund everything, you do not have to top up the difference in cash when you sell at market value.
What is the 4% stress test?
Banks work out your maximum loan as if the interest rate were at least 4% a year, and your total monthly debts cannot exceed 55% of your income (TDSR). Your actual instalment is usually lower; the calculator shows both.
Does age affect how much I can borrow?
Yes. If the loan runs past age 65 (using the buyers’ income-weighted average age) or the tenure is over 30 years, the limit drops from 75% to 55% and minimum cash rises from 5% to 10%.
Are past resale prices at my block my flat’s value?
No. They are a useful guide, but your flat’s floor, condition and the market on the day all matter. Get a proper valuation before committing to a condo.
Estimates only — not financial advice and not a loan approval. Banks, HDB, CPF Board and IRAS make the final decisions. Rules reviewed on : IRAS BSD, IRAS ABSD, ABSD remission, IRAS SSD, MAS LTV, MAS TDSR, CPF housing usage, CPF refunds on sale, HDB MOP. Related: TDSR calculator, Stamp duty calculator, Remaining lease & CPF calculator, HDB resale transactions.