HDB Resale Levy

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An honorable member of the Coffee Shop Has Just Posted the Following:

Does anyone know what is resale levy? I had a shock of my life.

Allow me to explain. In late 1999 just when shit started to hit the fan for me I had no choice but sell my flat, sold it in 2000 and I went on the run.

Now back wanted to apply for new flat was told by HDB I need to pay a resale levy. Asked what is a resale levy he explained that new flats are all subsidized so when I sold the flat and didn't pay back the subsidy of the fist flat my next subsidized flat application I need to pay back the first subsidy plus interest. For my case he told me its $184k and it has to be paid with cash only and before collecting keys.

Was shocked to know this Resale Levy thing.

Anyway the HDB guy told me he always advise people in my situation to buy resale, can borrow and also select choice units. Don't know what to do now.


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