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At the moment we have a HDB executive flat and a private condo, we are currently staying at the condo and rented the HDB executive flat. Can we down size our HDB executive to HDB 3 rooms for easy maintenace and cash out. Pls advise (1) can we down size even though we have a private property (2) I guess we can only get the 3 rooms from the open market instead of from the newly launched resale flat. (3)what should we do exactly to achieve the end result for owning a smaller HDB flat and a private condo initially with the current HDB regulation? Thank you.
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3 Answers

Mike Lim
Replied
Afternoon KSJ,

Under your current status, to downgrade from 5 to 3 room flat, you are required to sell off your private property within 6 months from key collection. After you attain the 3 room flat, fulfill the MOP, then you are eligible to purchase private property again. However, with the current ruling, if you are PR, you might not be able to rent out your HDB unit to stayin condo in the future.

Regards
Mike Lim
 96929209 
CEA Reg no: R026708F
Email add: m52i@yahoo.com
ERA Read More
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J.A. Goh 吴永益
Replied
Hi KSJ,

You don't have any option, as if you sell your Executive HDB and buy a smaller one, even from resale market, you will have to sell your Private condo within 6 mths when you get the keys to your smaller HDB.

Suggest you stay on with the current way, or increase your rental to cover for your HDB maintenance.

Please feel free to drop me an email or call me directly for a non-obligation discussion, if you still have further questions.

Thank you & Best Regards
J.A.Goh
ERA Team Director
HP: 9639 0350 
Email: gohja@singnet.com.sg
CEA Reg No. R025894Z
CEA License No. L3002382K
www.gohjaERA.myweb.sg Read More
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Darren Lim
Replied
Hello,

As mentioned by the fellow agents, there is no way you can keep your condo if you are to downsize your HDB flat (sell & buy another one).

Just my 2 cents worth of advice, if you really need to cash out urgently, selling away your condo may be the best option. Maintaining a HDB flat will be less taxing and you should make quite a decent profit selling your condo now if you have bought it quite a number of years back.

You can always buy a condo in future again as your 2nd property but if you sell away your HDB flat and keep your condo, you will not be eligible to buy a HDB flat in future unless you dispose off your condo. Furthermore, you can consider buying an EC in the future (30 months after selling away your pte property) and upgrade from your current HDB flat.

Just a suggestion. Hope it helps. Please feel free to give me a call at 91443311  and we can discuss further about this.

Thank you.

Darren Lim
Mobile: 91443311 
Email: darrenlim.era@gmail.com Read More
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