HDB Contra 2024 | Useful Scheme for HDB Second Time Buyers
Selling one HDB flat while buying another can feel like a financial juggling act.
In Singapore, the HDB Enhanced Contra Facility (ECF) makes it easier.
It lets you channel your sale proceeds and CPF refunds straight into your next resale purchase — reducing the cash you need upfront and keeping your timeline steady.
With the Contra Scheme, you’re not left waiting on funds or scrambling for a bridging loan.
Instead, your move from one flat to another becomes a smoother handover, backed by HDB’s system and CPF rules.
For second-time buyers, it’s one of the most practical ways to manage both sides of the deal.
Table of Contents
What is the HDB Contra Scheme about?
How the Contra Scheme Actually Works
Think of Contra like a three-way handshake.
Group A – Your Buyer: pays for your current flat.
Group B – You: sell your flat, and at the same time buy the next one.
Group C – The Seller of Your Next Flat: receives payment from you.
HDB and CPF step in to route the money smoothly:
Your sale proceeds and CPF refunds go straight into your next purchase.
You don’t have to wait for the cash to clear, or apply for a costly bridging loan.
The process only works if the timelines line up, so sale and purchase complete on the same day (or sale first).
That’s why HDB calls this an Enhanced Contra Facility — it enhances cashflow, not the price.
How HDB Contra (ECF) Routes Your Money
Buyer pays you → your sale proceeds & refunded CPF are routed to your next resale purchase. Some items still need to be paid separately.
Check Assumptions
Conditions & Restrictions For HDB Contra Scheme
Who Can Use the Enhanced Contra Facility
To qualify, your situation must check these boxes:
You’re selling one HDB resale flat and buying another resale HDB flat at the same time.
You’re using an HDB loan (or no loan) — bank loans are not allowed.
Your sale completes before or on the same day as your purchase.
You’re not an undischarged bankrupt.
When ECF is Not Allowed
Either flat has a bank loan.
Private solicitors are required.
The deal is a Conversion Scheme or part-share resale.
Both your buyer and your seller try to use Contra (only one party in the chain can).
Bottom line: Contra works best when it’s a straightforward, HDB-to-HDB move with clean financing.
1) Log in to My Flat Dashboard and register your HFE and Intent to Sell.
2) Starts marketing your HDB flat for sale.
It can be done either DIY or by engaging a real estate agent to facilitate the two-way negotiations.
3) Upon successfully finding a Buyer (Group A), you can grant the Buyer (Group A) an Option To Purchase (OTP).
Must use the HDB prescribed (OTP) Option to Purchase as the form of contract in resale transactions. Do note, the Option Period for the (OTP) Option to Purchase is 21 days.
Buyer must exercise the OTP within that period, if not the deposit will be forfeited.
4) Following that you should register an Intent to Buy in the HDB Resale Portal and start looking for next HDB flat.
5) Upon successfully finding a flat you would like to purchase, Seller of the new house (Group C), will need to grant an Option to Purchase (OTP) to you.
6) All Groups, Sellers and Buyers, will submit a Resale Application within a previously agreed timeframe. Group B will indicate in Resale Application that he/she is applying for ECF.
7) Upon approval (HDB’s Approval Letter is posted in the HDB resale portal), the buyers and sellers will be notified via SMS or E-mail.
8) HDB completion normally is scheduled after 8 weeks from the date of Acceptance of the resale application after the required documents are submitted successfully.
HDB contra timeline
This is the timeline for selling or buying a HDB.
You can use this as a reference to plan for HDB contra timeline.
Usually 3 month extension is required for selling and buying of another HDB.
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Bonus for my readers
In conclusion, HDB contra is an innovative and cost-saving solution for homeowners who are looking to sell and buy HDB.
By leveraging the value of their existing HDB flat, they can avoid the need for a large down payment and reduce their overall cash outlay.
Most HDB owners often require a thorough discussion about their options and the procedure involved before they can confidently plan their next move.
Here are some common topics we cover during these discussions:
- Can I use HDB contra if I already have a housing loan?
- Can I use HDB contra if I still have outstanding CPF payments?
- Is HDB contra applicable to any type of HDB flat or only specific ones?
- Are there any restrictions or limitations to be aware of when considering HDB contra?
- What are the potential risks associated with HDB contra?
- What benefits can I expect from using HDB contra?
If you have similar questions or doubts, I encourage you to connect up for a friendly discussion without any obligation on your part.
Let’s address your concerns and explore the possibilities.
Who should apply?
Existing HDB homeowners who are considering upgrading to a larger flat or downsizing to a smaller one.
Real estate agents who want to advise their clients on the various financing options available for HDB flats.
Anyone interested in the Singapore real estate market and the unique features of HDB housing.
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Self Introduction
Hi, I’m Rick Long
With decades of experience in Singapore’s real estate market, I’ve had the privilege of being mentioned in media outlets such as Channel NewsAsia, The Straits Times, and 99.co.
Over the years, I’ve written extensively on the local property landscape — tackling the real questions buyers and sellers face, and helping them navigate each step with greater clarity and confidence.
Many of my clients have become long-time friends — their trust and kind reviews continue to inspire me to raise the bar in everything I do.
I believe real estate should be strategic, seamless, and deeply aligned with your life’s journey.
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