The cost of upgrading from HDB to condo runs well past the price and the downpayment. A S$1.5 million condo carries $44,600 in Buyer’s Stamp Duty alone. Add legal fees and agent commission on both the sale and the purchase, mortgage duty, renovation, moving and perhaps a few months’ rent, and the one-off bill for a typical move reaches six figures before you count the loan.
The running costs change too: condo maintenance fees, a higher property tax and a larger instalment replace your flat’s charges for as long as you stay. Here is each cost, with official rates where they exist and labelled assumptions where they do not.
Costs on the Sale of Your Flat
- Agent commission. There is no fixed rate; the Council for Estate Agencies says it is negotiable. GST of 9% is added only if the agency is GST-registered. At an assumed 2% on a $650,000 flat, that is $13,000 plus $1,170 GST.
- Legal fees. If HDB acts for you, its published scale for a resale works out to about $604 on $650,000, before disbursements. A private lawyer quotes their own fee.
- Outstanding charges. Service and conservancy charges and property tax must be settled up to completion.
Our guide to selling an HDB flat covers the full sale process.
Costs on the Purchase
- Buyer’s Stamp Duty. Banded at 1% to 6% on the higher of price or value, by IRAS. $44,600 on $1.5 million, $59,600 on $1.8 million. Payable within 14 days; CPF can reimburse it.
- ABSD, if you buy before you sell. 20% for a Citizen couple’s second home, refundable only if the flat is sold within six months. See sell first or buy first.
- Mortgage duty. 0.4% of the loan, capped at $500, according to IRAS. Any loan of $125,000 or more pays $500.
- Legal fees for the purchase and the loan. Quoted by the law firm; we assume $3,000 below.
- Buyer’s agent. Optional. If you appoint one, agree any fee in writing first.
- Cash over valuation. Banks lend on the lower of price or valuation, so anything above valuation is cash.
Our stamp duty guide explains the bands and the ABSD rules.
The short version: For a $650,000 flat sold and a $1.5 million condo bought, the extras in our example come to about $133,000 before any rent, ABSD or cash over valuation. Then the condo costs more every month, and CPF cannot pay the maintenance fees or the property tax.
The Move Itself
- Renovation and furnishing. Not set by any rule and often the biggest extra. CPF Board’s list of what OA savings can pay covers stamp duty, legal fees and lodgment fees, not renovation, so plan it in cash or a renovation loan.
- Moving and storage. Quotes vary with volume and access.
- Somewhere to live in between. If you sell first and the condo is not ready, HDB’s Temporary Extension of Stay covers up to three months after completion, and only if your next home is completed. After that, budget rent.
- Overlapping loans. If you buy first, you may carry two instalments and bridging loan interest until the flat sale completes.
A Worked Example of the Cost of Upgrading From HDB to Condo
An illustrative couple sell a $650,000 flat and buy a $1.5 million completed condo, selling first. Our own figures; assumed amounts are marked.
| Cost | Amount |
|---|---|
| Commission on the sale, assumed 2%, plus 9% GST | $14,170 |
| Legal fees on the sale, HDB scale | $604 |
| Buyer’s Stamp Duty | $44,600 |
| Mortgage duty | $500 |
| Legal fees on the purchase (assumed) | $3,000 |
| Renovation and furnishing (assumed) | $60,000 |
| Moving (assumed) | $3,000 |
| Three months’ rent while waiting (assumed $2,500 a month) | $7,500 |
| Total beyond the price | about $133,400 |
Illustration only. Our HDB upgrade calculator adds these to the sale and loan sums.
The Costs That Keep Coming
Maintenance fees instead of S&CC. A condo’s management corporation sets a monthly maintenance charge and a sinking fund contribution for each unit. Ask for both figures, and any planned special levy, before you commit, and compare them with your flat’s service and conservancy charges. CPF cannot pay either.
Property tax. Owner-occupied homes pay progressive rates on the Annual Value (AV), starting at 0% on the first $12,000 and 4% on the next $28,000. With illustrative AVs:
| Home | Assumed AV | Tax before rebate | 2026, after the one-off rebate |
|---|---|---|---|
| HDB flat | $14,000 | $80 | $68 (15% rebate) |
| Condo | $40,000 | $1,120 | $1,008 (10% rebate, capped at $500) |
The 2026 rebate was a one-off. Your real AV is on your property tax bill; see property tax in Singapore.
Insurance. The Home Protection Scheme covers HDB flats only, so a condo loan has no default mortgage cover; see mortgage insurance compared.
The instalment. In our example it rises from $1,100 to about $5,335 a month at an assumed 3%.
What To Do Next
- List every one-off cost in the purchase cost summary and check stamp duty in the stamp duty calculator.
- Work out the sale side with the HDB sale proceeds calculator, and check the bigger instalment against your income in the home affordability calculator.
- Ask the development’s managing agent for the maintenance charge, sinking fund and any levy before you sign.
- Compare property tax at different AVs with the property tax calculator.
