Why many One Chuan Grove buyers are HDB upgraders
Lorong Chuan is surrounded by mature HDB towns: Serangoon, Bishan, Ang Mo Kio, Toa Payoh and Hougang. For families in these towns, a new condo nearby means a private home with facilities, without moving away from parents, schools, workplaces and familiar food places. That is why upgraders were a large share of buyers at the neighbouring Chuan Park, and why they are expected to be a key group at One Chuan Grove too.
Upgrading from HDB to a private condo involves some extra steps compared with a first-time purchase. Here is how to plan it.
HDB, IRAS, CPF and MAS rules change from time to time. Check the latest rules on their websites and with your lawyer, banker and salesperson before you commit.
Step 1: Check your Minimum Occupation Period
HDB flats bought from HDB or on the resale market come with a Minimum Occupation Period (MOP), generally five years from key collection (or from the resale completion date). Before your flat has met its MOP, you cannot buy a private residential property in Singapore or overseas. Some newer flats under HDB's Plus and Prime models have a 10-year MOP, so check your flat's terms.
Once MOP is met, Singapore Citizen HDB owners may buy a private property while keeping the flat. Permanent Resident owners must sell their flat within six months of buying private property.
Step 2: Decide whether to buy first or sell first
Option A: Buy first, sell later
You book a unit at One Chuan Grove while still living in your flat, and sell the flat closer to the condo's completion. This is popular with new launches because the construction period gives you time.
- Pros: no need to rent a temporary home; you keep living in your flat during construction; you can lock in your condo unit at launch.
- Cons: you pay ABSD of 20% upfront (as Singapore Citizens buying a second property) and claim it back later if eligible; your loan limit is lower if you still have an HDB loan.
Option B: Sell first, then buy
You sell your flat first, then buy the condo as your only property, with no ABSD.
- Pros: no ABSD; your loan limit is based on no outstanding home loan; your sale proceeds are available for the down payment.
- Cons: you may need to rent while the condo is built, which can take three to four years for a new launch; you may miss the launch if the timing does not line up.
For a new launch like One Chuan Grove, most upgraders who are married couples choose Option A and use the ABSD refund.
Step 3: Understand the ABSD refund
A married couple, with at least one spouse a Singapore Citizen, who buy a second residential property jointly can apply to IRAS for a refund of the ABSD paid, provided they sell their first property within the time allowed. For an uncompleted property like One Chuan Grove, the first property must be sold within six months of the date of the TOP or CSC of the new property, whichever is earlier.
Key points:
- The ABSD (20% for Singapore Citizens' second property) must still be paid within 14 days of signing the S&P. On a S$2 million unit, that is S$400,000 in cash or CPF, on top of the down payment and BSD.
- The refund is only granted once the first property is sold within the deadline. Missing it means losing the refund.
- Both spouses must be owners of the new property, and they must not own any other residential property at the time of the purchase other than the one being sold.
Because of the large upfront ABSD, some couples use bridging loans or plan their cash carefully. Discuss this with your banker early.
Step 4: Work out your loan limits
If you still have an HDB loan or bank loan on your flat when you buy, the condo loan is your second housing loan. The loan-to-value limit drops to 45% (for tenures up to 30 years ending before 65) and the minimum cash down payment rises to 25%. If your flat is fully paid, the limit for the condo is 75%. The TDSR of 55% of gross monthly income also applies.
This is where many upgraders get caught out, so ask your bank for an in-principle approval that reflects your existing loan.
Step 5: Plan the sale of your flat
When you sell, the proceeds first repay any outstanding HDB or bank loan, then refund the CPF you used plus accrued interest to your Ordinary Account. The rest is paid to you in cash. The refunded CPF can then be used for the condo, subject to CPF limits.
A typical HDB resale takes about two to three months from the Option to Purchase to completion. If you are relying on the ABSD refund, aim to start marketing your flat several months before the condo's expected TOP, and negotiate an extension of stay if you need time to move.
Sample timeline
| When | What happens |
|---|---|
| Before the preview | Confirm MOP; get an IPA; plan cash for down payment, BSD and ABSD |
| Preview and booking (target 1Q 2027) | Book a unit; pay 5% |
| Within 8 weeks | Sign S&P; pay up to 20%; pay BSD and ABSD within 14 days |
| During construction | Progressive payments; keep living in your flat |
| About 6 to 9 months before TOP | Start marketing your HDB flat |
| TOP | Collect keys; renovate; move in |
| Within 6 months of TOP | Complete the sale of your flat; apply for the ABSD refund |
Which unit type do upgraders choose?
Upgrading families most often look at three-bedroom and three-bedroom flexi layouts, which offer space similar to a four- or five-room HDB flat. Couples with one young child may consider a two-bedroom plus study. Multi-generational families moving from an executive flat or maisonette may need a four- or five-bedroom unit. Compare the internal area with your current flat: a five-room HDB flat is typically about 110 to 120 sqm (around 1,180 to 1,290 sq ft). See our floor plans guide.
Get a personal upgrading plan
Every household's situation is different. We can work out your affordability, ABSD and cash flow, and estimate your flat's resale value, to see whether One Chuan Grove fits your plans. Contact us here, or read the new launch buying guide first.
Frequently Asked Questions
Can I buy One Chuan Grove while owning an HDB flat?
Generally, yes, if your flat has met its five-year Minimum Occupation Period and at least one owner is a Singapore Citizen. You will pay ABSD on the condo as a second residential property unless an exemption or refund applies.
How does the ABSD refund work for HDB upgraders?
Married couples (with at least one Singapore Citizen spouse) who buy a second property jointly can claim a refund of the ABSD if they sell their first property within six months of the new property's TOP or CSC, whichever is earlier, for an uncompleted property.
Do I need to sell my HDB flat before buying a condo?
No, if you have met your MOP. But you need to budget for ABSD, which is paid upfront and refunded only after you sell the flat in time, and your loan limits are lower if you still have an HDB loan.
What happens to my CPF when I sell my HDB flat?
The CPF you used for the flat, plus accrued interest, is refunded to your CPF Ordinary Account from the sale proceeds. You can then use it for your new home, subject to CPF rules.