How much is the downpayment for DBSS?
Bank requires a 5% upfront if you borrow up to 80%. For up to 60% LTV borrowing, be prepared for 10% cash. The rest of downpayment can be funded from CPF OA.
Is DBSS more expensive?
DBSS flats were expensive, compared to the typical HDB flat. It was not unusual to see prices like $660,000 to $770,000 for five-room units.
Is there grant for DBSS?
The CPF Housing Grant for Singles (DBSS) is $20,000 if you are applying to stay with your parents in the flat ($20,000). Whether or not you qualify for the above, you may also be eligible for the Additional CPF Housing Grant and Special CPF Housing Grant of up to $30,000 if your income is $3,250 or less.
Is it worth to buy DBSS flat?
If you’d bought your DBSS flat brand new at a subsidised price and with HDB grants, you can definitely enjoy a tidy profit when you resell it – as with any brand new HDB flat. But you also paid more for it, compared to a regular BTO flat.
How do I get DBSS resale?
You can’t buy DBSS flats from HDB anymore, but you can find them on the resale market (more on that below). Although DBSS flats are priced at a premium, there are a handful of affordable ones too. The million-dollar ones are usually located in the city fringe areas, or popular estates like Bishan.
Can DBSS take HDB loan?
Loan eligibility for DBSS DBSS flat buyers can apply for a HDB concessionary loan if they meet the guidelines set out by HDB. The maximum loan quantum is 90% of the DBSS flat’s purchase price, which is subject to credit assessment and full usage of the funds in the CPF Ordinary Account.
Why is DBSS so expensive?
The high prices of DBSS flats are mainly paid for units with excellent, exceptional attributes. For Natura Loft, it is very well located in Bishan where 5-room flats are commonly sold at above $850,000. Moreover, the higher the unit is located, the higher is the transacted price.
Why was DBSS discontinued?
The DBSS was suspended in 2011 after a public outcry over high indicative price tags for units at Centrale 8 in Tampines. The developer had given an initial price of $880,000 for a five-room unit, which was later lowered to $778,000.
Can I use my HDB grant for down payment?
You can’t use the grants to skip out on your downpayment or monthly repayment. All the HDB grants are used to subsidise the initial purchase price — you cannot use it to avoid making any home loan repayments. If you have taken out a bank loan, you will need to pay 5% of the purchase price in cash.
Do I need to pay back HDB grant?
No, you do not return your housing grants to the Government. Housing grants are given to home buyers to buy a new or resale flat. For example, eligible first-timers may enjoy subsidies and the Enhanced CPF Housing Grant (EHG) when they buy a flat directly from HDB.
Can DBSS be Privatised?
For new DBSS, it is not private property but rather a category of “premium HDB”, treated same as all other hdb flats and will not be privatized. In any case, DBSS scheme has been shelved already hence theres limited units to pursue.
Do you pay resale levy for DBSS?
You will not need to pay a resale levy if sell your subsidised flat to buy a Design, Build and Sell Scheme (DBSS) flat from a developer, an HDB resale flat, or private residential property.