If you are in Singapore and need a flat, you can look up the sales of balance flat announcement. Every year, you can watch out for this application process. It is primarily a housing sales exercise that brings together all the unsold HDB flats from all the previous BTO launches, Selective En-Bloc Redevelopment Schemes (SERS), and the flats repurchased from HDB.
The SBF exercise occurs twice annually in the months of May and November. The SBF flats are put up along with the BTO flats only during these months. All unsold HDB SBF flats will be put up for sale through the ROF exercise.
But when these flats remain unchosen, they will be made available for open booking. But in March 2020, the ROF flat exercise was removed by the government and thus, these flats are now also available for open booking.
Sales of Balance flat application
Step 1- The applications are closed for 2022 Fresh dates for new applications will be updated soon… homes.hdb.gov.sg/home/landing
Step 2- Click on the sales of Balance flats to enter the application process.
Step 3- You can check the flat type and compare it with your budget or you can straightaway start the application process by clicking on the maroon Apply tab. If you don’t know how to apply, click on the tab below the Apply tab to find out the application process.
Step 4- In the next segment, you will see two types of estates- mature and non-mature estates. You must choose a property type from the available options of mature and immature property types and the area where you need it. After choosing your flat type, scroll down and click on the Next tab.
Step 5- If you wish to proceed, click on the Yes tab to proceed.
Step 6- Click on the Continue tab to start the application. Here you will be informed that the application can be filed either for your family or singles.
Step 7- As the main applicant, you will have to fill up a detailed application form.
Step 8- Click on the Continue tab to complete the first section of the application form. There are a total of 8 tabs to complete, you must go through all to finish the application.
What are the Application Requirements?
These could be your application requirements.
- Families or applicants need to qualify for a flat under any of the three schemes- public, fiancé/ fiancée, or orphans scheme.
- You must not own a home anywhere else, either abroad or within the local parameters.
- Within the past 30 months, you have not disposed of any properties of any sort.
- Any of the flatmates including you cannot invest in any other private residential property for five years from the day you own a flat.
- You mustn’t have received an HDB/SBF flat beforehand.
- If you have properties, you must have received it beforehand and only one CPF grant so far.
For a first-timer, the rules are slightly different other than the fact that you need to be a Singaporean citizen.
- To meet the eligibility, you must meet the EIP and SPR quota for your flat in whichever area it is in.
Who is Eligible for HDB sales of Balance May?
Eligible criteria for HDB sales of balance May include;
- One of the applicants must be a Singaporean citizen or a permanent resident.
- Applicants must be 21 years old to apply for the home.
- People must fall within the income ceilings of $14000 for families and $21000 for their extended families.
As a single individual, your eligibility includes;
- Your household income should not exceed $7000.
- You can be at least 35 years old if you are a divorced or unmarried candidate and 21 years old if you are a widow or an orphan.
How does Sales of Balance flat works?
They are not new flats always and can often be old flats on sale. Once you apply, they will match all your essential information with your available records. When the officials find it satisfactory, the chances of getting a flat are high.
FAQs (Frequently Asked Questions)
How long to wait for Sales of Balance flat?
The waiting time is 9 months for sales of balance flats.
How often is Sale of Balance flats?
It happens twice a year for them.
Can single buy Sales of Balance flat?
Yes, singles can buy sales of balance flats but they need to be Singaporean citizens.
Here’s all about the SBF flats and their purchase options including their application procedure and eligibility requirements. Read about it to participate in the ongoing application process. Singles can benefit a lot from these flats and their appropriate requisition, thus, check appropriately as to what or how you can benefit.