With 2025 market trends, CPF refund guide, cost breakdowns, and a 20-question FAQ.

Executive Summary

Why timing matters in 2025: The number of flats reaching their Minimum Occupation Period (MOP) dips to the lowest level in over a decade—about 6,974 units—which tilts bargaining power toward sellers in most towns. Supply is expected to climb from 2026 and trend higher toward 2028, so 2025 is a favorable window to maximize price if you’re ready to sell.

New for 2025 sellers to note

• HDB loan LTV cut to 75% (from 80%) in Aug 2024 → buyers need larger downpayments. Expect tighter financing conversations.
• CPF grants refreshed: Families can get up to $120,000 via the Enhanced CPF Housing Grant (EHG) for resale; first-timer families can stack grants to as much as $230,000 total, depending on eligibility. Singles have proportionate grant options. This supports demand despite higher downpayments.
• Market pulse: The HDB Resale Price Index (RPI) rose 1.6% in Q1 2025, moderating from late-2024 but still showing resilience amid tight supply. Q2 2025 transactions rose by about 7.8% quarter-on-quarter.
• Process norms: Buyers must hold a valid HFE Letter before OTP; sellers must register Intent to Sell and wait 7 days before issuing an OTP.

The MOP Supply Pipeline (Indicative)

Bottom line: If maximizing price is your goal and you’re sale-ready, 2025 offers a valuable advantage before supply swells.

The HDB Resale Market in Numbers (Seller-friendly snapshot)

• Prices: RPI up 1.6% in Q1 2025 (after strong 2024).
• Activity: Q2 2025 saw an ~7.8% rise in resale transactions from Q1.
• Financing: LTV 75% for new HDB loans from Aug 2024 (buying power more sensitive to valuation).
• Grants: EHG up to $120,000 (families); total stacked grants for first-timer families can reach up to $230,000.

The 12-Step HDB Resale Process (2025 Edition)

1) Calculate Your True Net Proceeds

Time: 1–2 days | Docs: CPF usage & accrued interest, loan redemption, recent transactions

What to gather

• CPF refund (principal used + 2.5% p.a. compounded accrued interest) from your CPF dashboard.
• Outstanding loan (bank/HDB).
• Estimated costs: legal, admin, marketing, professional fees.

Example — sale proceeds snapshot

Tip: Always confirm the exact CPF refund on your CPF account before pricing. Small interest differences over 8–12 years materially shift your cash proceeds.

2) Decide: DIY vs Professional Help

Immediate decision. Your choice affects speed, exposure, compliance, and stress.

Side-by-side in 2025

Reality check: For contra, ECF, multi-owner, or tight-timing cases, professional guidance typically improves outcomes and reduces risk.

3) Register Intent to Sell

Time: 15 minutes + mandatory 7-day cooling-off before you can issue an OTP.

Do this early: Intent is valid for 12 months. Get co-owner consent/process ready to avoid delays.

4) Set Your Marketing & Pricing Strategy

Setup: 1–2 weeks

2025 best practices

• Pro-grade photos and decluttering to command a premium.
• Accurate floor plan + virtual tour to pre-qualify serious buyers.
• Transparent comps: Print recent HDB transactions around your block (buyers will check anyway).
• Responsive comms: Aim for same-day replies—today’s buyers expect it.
• Price to the market, not the dream: Research 6 months of nearby transactions; factor in LTV-75 conditions and unit attributes. Stale listings over 30 days often underperform even after price cuts.

5) Run Professional Viewings

Ongoing during marketing

Checklist for show-ready viewings

• Confirm appointments; open curtains, switch on lights, ventilate.
• Subtle scent, simple staging—help buyers imagine moving in.
• Prepare answers on upgrades, transport, schools, and amenities.
• Provide floor plan & recent transactions printout to build trust.
• Give buyers privacy to discuss; prioritize second viewings.

6) Grant Option to Purchase (OTP)

Validity: 21 days | Option fee: up to $1,000. Total deposit (option + exercise) typically up to $5,000.

Only issue OTP after the 7-day wait, and when you’re satisfied with: price, completion date, and any financing conditions. Backing out after OTP issuance is complex and risky.

7) Buyer Requests HDB Valuation

Time: ~1–2 weeks | Paid by buyer

• Buyer applies after receiving the OTP; HDB assigns an independent valuer.
• Valuation caps buyer’s CPF use and loan amount; any amount above valuation must be paid in cash (Cash Over Valuation). Ensure access for the valuer to avoid delays.

8) Buyer Exercises OTP

Deadline: Within 21 days of OTP grant. 
Buyer pays the exercise fee (total deposit with option fee typically up to $5,000). Deal becomes binding; start planning your move and timelines.

9) Submit the Joint Resale Application

Platform: HDB Flat Portal | Timing: As agreed in OTP

Seller docs commonly needed: NRIC/passport, marriage/divorce/death certs (where applicable), Power of Attorney (if used). If you’re using Enhanced Contra Facility (ECF), declare it during application. Both parties must submit their sections; HDB counts the clock after both parts are in.

10) HDB Technical Inspection

Time: Typically 2–3 weeks after joint application

Inspectors check for illegal works (unauthorized walls, electrical/plumbing), and structural/safety issues (leaks, cracks). Fix minor issues promptly; major unauthorized works can delay or derail completion. Prepare approvals and ensure easy access throughout the flat.

11) Endorse Resale Documents (Online)

Review undertakings, payment schedules, and completion details carefully before endorsing—changes later are difficult. HDB usually triggers endorsements about 4 weeks after acceptance, with short windows to sign.

12) Completion Appointment

Timeline: ~8 weeks from HDB’s acceptance of the resale application. You’ll hand over keys/access and settle outstanding items; CPF refunds are processed automatically after completion. Consider arranging a Temporary Extension of Stay (up to 3 months) with buyer consent if needed.

Financial Deep Dive: CPF, Interest & Real Cash-Out

How CPF Accrued Interest Works

• CPF OA savings used for housing accrue 2.5% per annum, compounded.
• Upon sale, you refund the principal + accrued interest to your CPF.

Example (illustrative):

• CPF used: $120,000 for ~10 years
• Accrued interest ≈ $34,000
• Total CPF refund ≈ $154,000

Sample 2025 Cost & Proceeds Breakdown

Compliance Essentials & 2025 Rules

• Intent to Sell → 7-day wait before OTP.
• HFE Letter: Buyer should have a valid HFE before OTP.
• Option & deposit norms: Option fee up to $1,000; total cash deposit up to $5,000; COV must be cash.
• Request for Value: Buyer applies after OTP; valuation governs CPF/loan limits.
• EIP & SPR quotas: May limit eligible buyers for your flat depending on block/town composition.
• Completion timing: About 8 weeks from HDB’s acceptance; endorsements and final appointments are scheduled by HDB.
• Temporary Extension of Stay: Possible up to 3 months if agreed in writing.

Practical Marketing & Pricing Tips (2025)

• Price to the comps and today’s LTV reality: a $10–20k difference can make or break a buyer’s loan approval.
• Lead with transparency: Bring a one-page summary of nearby HDB transactions to viewings.
• Stage for light & space: Bright, clutter-free photos outperform.
• Respond fast: Treat buyer messages like offers in the making.

DIY vs Professional Help — Quick Selector

• Choose DIY if: you’re experienced, have time, and the case is straightforward (no contra/ECF, simple timeline).
• Choose professional help if: there are multiple owners, compressed timelines, contra moves, valuation risk, or you prefer guided compliance from OTP to completion.

Key Takeaways

• 2025 favors sellers on scarcity, but financing is tighter (LTV 75%).
• Verify CPF refund & loan redemption early; it changes cash-out reality.
• Follow the 12 steps, especially Intent-to-Sell → 7-day wait → OTP → Valuation → Joint Application → Inspection → Endorsement → Completion.
• Use evidence-based pricing and pro-grade marketing.
• Plan buffers for valuation gaps and documentation timelines.

Bonus: Quick Comparison Tables

Timeline Milestones (typical)

Viewings — simple prep checklist

• Deep clean, declutter, brighten
• Print floor plan + nearby transactions
• Prepare FAQ about your flat & area
• Be responsive; prioritize second viewings

HDB Resale 2025 – Seller’s One-Page Checklist

Step 1: Calculate Your Net Proceeds

☐ Check CPF refund (principal + accrued interest) 
☐ Get outstanding loan balance (HDB/bank) 
☐ Estimate legal, admin & agent costs 
☐ Confirm net cash proceeds before pricing

Step 2: Decide Selling Method

☐ DIY – handle marketing, viewings, paperwork yourself 
☐ Professional Agent – wider reach, negotiation & compliance support 
☐ Hybrid – start DIY, switch to agent if needed

Step 3: Register Intent to Sell (HDB Portal)

☐ Log in with SingPass 
☐ Get consent from co-owners 
☐ Register early (valid 12 months) 
☐ Mandatory 7-day wait before issuing OTP

Step 4: Prepare Marketing & Pricing

☐ Research 6 months of nearby transactions 
☐ Decide on pricing strategy (realistic, not inflated) 
☐ Take professional-quality photos & declutter flat 
☐ Prepare floor plan & virtual tour 
☐ List on HDB Portal + property sites + social media

Step 5: Manage Viewings

☐ Confirm appointments in advance 
☐ Brighten, ventilate & clean all rooms 
☐ Simple staging (plants, neutral décor) 
☐ Prepare answers about flat, transport, schools, amenities 
☐ Give buyers space & privacy during viewing

Step 6: Grant Option to Purchase (OTP)

☐ Ensure 7-day wait has passed 
☐ Collect option fee (up to $1,000) 
☐ Issue OTP via HDB Portal + physical copy 
☐ OTP valid for 21 days

Step 7: Buyer Requests Valuation

☐ Buyer applies via HDB Portal 
☐ Allow access for HDB valuer inspection 
☐ Discuss options if valuation < price (stand firm, negotiate, or let OTP lapse)

Step 8: Buyer Exercises OTP

☐ Collect exercise fee (up to $4,000; total deposit up to $5,000) 
☐ Buyer now legally bound 
☐ Start planning move & next housing

Step 9: Submit Joint Resale Application

☐ Seller & buyer submit via HDB Portal 
☐ Upload NRICs, marriage/divorce/death certs, loan details, Power of Attorney (if applicable) 
☐ Indicate if using Enhanced Contra Facility (ECF)

Step 10: HDB Technical Inspection

☐ Fix visible issues (leaks, cracks, minor defects) 
☐ Gather renovation approval papers 
☐ Ensure inspector can access all rooms 
☐ Be present during inspection

Step 11: Endorse Resale Documents

☐ Log in to HDB Portal & endorse final documents 
☐ Double-check payment schedule & details before signing 
☐ Pay legal & admin fees 
☐ Save digital copies for your records

Step 12: Completion Appointment (HDB Hub)

☐ Bring completion letter & required documents 
☐ Hand over keys, access cards & manuals 
☐ Terminate utilities & settle conservancy fees 
☐ CPF refund auto-credited to your account 
☐ Move out and leave flat in agreed condition

HDB Resale Top 30 Seller Questions

General Sale Process

1. How long does the HDB resale process take in 2025?
Typically about 3 to 4 months from registering your Intent to Sell to completion at HDB Hub, depending on buyer financing and inspection timelines.

2. Do I need to register Intent to Sell before marketing my flat?
Yes. It’s mandatory to register Intent to Sell on the HDB Portal. You must also wait 7 days before you can grant an Option to Purchase (OTP).

3. What is the Option to Purchase (OTP) validity period?
21 calendar days from the date of issue. The buyer must exercise it within this period by paying the exercise fee.

4. How much option fee and exercise fee can I collect?
Option fee: up to $1,000. Exercise fee: up to $4,000. Total deposit cannot exceed $5,000.

5. Can I issue multiple OTPs to different buyers?
No. You can only issue one OTP at a time. Issuing multiple OTPs is a breach of HDB regulations.

Valuation & Pricing

6. Can a buyer request valuation before OTP?
No. HDB valuation is only requested after the OTP is granted.

7. What happens if the valuation is lower than my selling price?
The buyer must cover the difference in cash (Cash Over Valuation). You can choose to renegotiate or let the OTP lapse.

8. How should I set my selling price in 2025?
Review recent transactions in your block and nearby estates, factor in the new 75% HDB Loan-to-Value (LTV) cap, and consider flat attributes like floor level, facing, and renovation.

9. Will 2025 prices rise further?
Resale prices are still climbing but at a slower pace compared to 2021–2023. The low MOP supply in 2025 supports sellers, but supply is expected to rise from 2026.

10. Can I sell above valuation?
Yes, but only if buyers are willing to pay the difference in cash.

CPF & Financial Matters

11. How is my CPF refund calculated?
You must refund the CPF principal you used for housing plus accrued interest (2.5% per annum compounded).

12. What if my sale proceeds are not enough to refund CPF fully?
If your sale price covers the outstanding loan but is insufficient for the full CPF refund, CPF will accept the shortfall without requiring cash top-up.

13. When will I get my CPF refund?
Usually within 2 weeks after the completion appointment.

14. How soon can I use refunded CPF for my next property?
Once refunded, CPF funds are immediately available for your next property purchase.

15. Do I have to pay Seller’s Stamp Duty (SSD) for HDB?
No. SSD only applies to private property, not HDB flats.

Buyer-Related Rules

16. What is an HFE Letter, and why does it matter?
The Housing & Development Board Flat Eligibility (HFE) Letter shows a buyer’s financing and grant eligibility. Buyers should have this before OTP.

17. Can a foreigner buy my HDB flat?
No. Only Singapore citizens and Permanent Residents (PRs) can buy resale HDB flats, subject to eligibility conditions.

18. What are the Ethnic Integration Policy (EIP) and SPR quotas?
These policies limit resale eligibility in certain blocks or precincts to maintain racial balance and PR ratios. Always check the HDB Portal before issuing an OTP.

19. Can singles buy my flat?
Yes, if they are at least 35 years old (Singapore Citizen). PRs must form a family nucleus to buy.

20. Can buyers use CPF grants for resale flats?
Yes. Families can get up to $120,000 through the Enhanced CPF Housing Grant (EHG), and first-timer families may stack grants up to $230,000.

Timeline & Procedures

21. When should I start marketing my flat?
Immediately after registering Intent to Sell. This ensures you can issue OTP when ready.

22. How soon after OTP can the buyer submit a resale application?
Any time within the 21-day OTP validity. Submission must be made jointly by both parties via the HDB Portal.

23. What is the typical time from HDB acceptance to completion?
Around 8 weeks.

24. Can I request a later move-out date?
Yes. You may request a Temporary Extension of Stay (up to 3 months) if the buyer agrees in writing.

25. What happens at the HDB completion appointment?
You and the buyer meet at HDB Hub to sign final papers, hand over keys, settle outstanding amounts, and complete CPF refunds.

Legal & Technical

26. What documents do I need as a seller?
NRIC, marriage/divorce/death certificates (if applicable), loan redemption statement, CPF refund details, and Power of Attorney if someone else is acting for you.

27. What if my flat has unauthorized renovations?
You must rectify or remove them before completion. HDB’s technical inspection will highlight issues.

28. Can I sell if I still have an outstanding loan?
Yes. The outstanding loan will be deducted from your sale proceeds upon completion.

29. Do I need a lawyer for resale?
HDB provides standard conveyancing for resale flats. You may appoint your own lawyer if you want additional legal support.

30. Can I sell my flat if it is less than 5 years old?
No. You must complete the 5-year Minimum Occupation Period (MOP) before you can sell, unless under special exemptions (e.g., divorce, financial hardship, medical reasons).

Algene Toh

Senior Real Estate Salesperson

Asset Investment Brokers Pte Ltd

Email: admin@bsr2.com

Phone: +65 9008 8002

Visit us: profile

Disclaimer: The information presented on BSR2.com is intended for general informational purposes only. It does not constitute legal, financial, investment, or real estate advice and should not be relied upon as such. While every effort has been made to ensure the accuracy, reliability, and completeness of the content at the time of publication, all data is derived from publicly available sources and may be subject to change without notice. BSR2.com makes no representations or warranties of any kind, express or implied, regarding the suitability, timeliness, or accuracy of the information provided for any specific purpose. Users are strongly encouraged to seek independent advice from qualified professionals before making any decisions based on the content found on this website. BSR2.com shall not be held liable for any loss, damage, or consequence, whether direct or indirect, arising from the use of or reliance on the information provided. The content is intended as a general guide and does not take into account individual circumstances.