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HDB Contra 2024 | Useful Scheme for HDB Second Time Buyers

Hdb contra

Looking to downgrade or upgrade your HDB to another HDB in 2024 and wondering how to go about doing it?

Not to worry, we are here to share some useful tips that can help you in this process – specifically this HDB Contra Scheme.

Many second-time home buyers face similar concerns too.

Here’s a list of the most common questions we hear from our clients all the time:

  • Should I sell my HDB flat first or buy first?
  • How long is the process of selling and buying HDB flats?

Since selling off an existing flat and purchasing a new one involves a potential buyer, a potential seller and yourself, it is a much more complicated process than when you first bought your first home.

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Table of Contents

What is the HDB Contra Scheme about?

The HDB Contra Scheme, otherwise known as the Enhanced Contra Facility, is a useful but little-known scheme to help second-time home buyers.

A joint effort by HDB and the CPF board, it allows sellers to sell their existing HDB flat and concurrently buy another HDB resale flat using the proceeds (as well as the refunded CPF monies).

What does that mean for you (the seller and second-time home buyer)?


It means you will need to pay a much lesser amount of cash upfront for your new HDB flat and get a reduced mortgage loan for the new flat.


Why? Because the proceeds from your old home will be used automatically to pay for the new home including the insurance premiums for the CPF Home Protection Scheme. 

However, do note that the CPF refunded monies cannot be used for the payment of fees like stamp duty and conveyancing fees.

sell hdb buy 2 property

How does the HDB Contra Scheme work in real life?

hdb contra 2024

Still unclear about how it works? No problem. We’ll use a simple case study to illustrate how the HDB Contra Scheme can work for you.

Parties involved:

  1. Group A – David (Potential Buyer): Wants to buy your existing HDB flat
  2. Group B – You (Seller of existing HDB and buyer of next HDB): Wants to buy Jane’s HDB flat
  3. Group C – Jane : Wants to sell her HDB flat to you

You will apply for HDB Contra Scheme.

If approved, your sale proceeds and refunded CPF monies from your sold HDB flat to David, will be channeled to making the purchase of Jane’s place.

However, amongst the three groups, only one group is eligible to apply for the scheme at any one time.

property agent 2024 review

Conditions for applying Enhanced Contra Facility

Like all government schemes and grants, there are conditions for applying.


Do remember to check if you fulfil these necessary conditions before going ahead with this.

  • You can apply for the ECF (Enhanced Contra Facility) if you are selling your existing HDB flat and buying an HDB resale flat. However, the buyer of your flat and the seller of your new flat cannot apply for this same scheme.

  • You cannot be an undischarged bankrupt or have any bankruptcy proceedings against you. HDB may not approve the ECF application if any of the following apply:
    • There is a mortgage in favour of a financial institution
    • There is a CPF mortgage/ charge on Flat A and/ or Flat B
    • Private solicitors must be engaged

  • ECF is not available for the following types of resale applications:
    • Conversion Scheme
    • Sale of part-share of an existing flat
    • Contra party buys another resale flat using a housing loan from a bank

  • The resale of Flat A must be completed before or on the same day as the completion of the resale of Flat B
blk346 amk sold testimonial

Step by step guide to apply for HDB Contra

Fulfilled the conditions above, completed your HDB MOP completion and ready to apply for the Enhanced Contra Facility? Let us guide you step by step:

hdb hfe
  • 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.

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HDB contra timeline

hdb resale 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.

HDB Financial Calculator

We provide Free Monthly Transactions Notification for our readers.

Key in your Name, Postal code and contact details.

We will update you monthly.

If you come across any difficulties in the process, please feel free to contact me  for a non-obligatory discussion on your needs.

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.

hdb contra

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?

  1. Existing HDB homeowners who are considering upgrading to a larger flat or downsizing to a smaller one.

  2. Real estate agents who want to advise their clients on the various financing options available for HDB flats.

  3. Anyone interested in the Singapore real estate market and the unique features of HDB housing.

Awards and Accolades


I have successfully helped hundreds of homeowners just like you since 2010

Mr Ang
Mr Ang
Buyer of Parc Riviera
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As a investor interested in taking advantage of the booming property market in Singapore, I needed a realtor with in-depth knowledge of the local market. Using his understanding of the various sectors of the market, Rick generated a investment progression report and we decided to buy a condominium in a choice area with huge potential for multiple returns in the future. Thanks Rick, I will definitely be doing business with you for a long time!
Ms Claire
Ms Claire
Seller of Esparina Residences
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I am writing in to compliment Rick Huang for his invaluable service, for the sale of my Esparina Residences. The process was complicated but he was able to empathize with my situation and also provide brilliant advices that ensue the smooth transaction. In all, I am appreciative with his professionalism and human touch in this journey. Thank you!
Ms Ho
Ms Ho
Seller of Blk 272b Punggol
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I was sceptical about engaging a friend to sell our house. However, Rick has put himself out on so many levels just to ensure everything went smoothly, promptly and correctly at every stage. I trust Rick and would surely recommend him to anybody seeking to buy or sell a home! I do not usually post reviews but this is worth investing my time. Thanks once again..
Ms Malar
Ms Malar
Seller of Blk 332 Serangoon
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His service is beyond my expectations. Always going the extra miles to serve his clients.
Ms Jo
Ms Jo
Buyer of Blk 452a Sengkang
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My husband and I started our home-search by ourselves but was met with issues soon enough as we were unsure of the important things and areas to look out for and we were also not experienced in the negotiation process with the seller’s representing agent. Soon after hearing our problems, I was introduced to Rick by a friend. The entire buying process quickly became swift and smooth; Rick understands our needs, puts our personal interest first, seals us a good deal and educated us along the way about the important things and areas to pay attention to. Thumbs up to Rick and we will recommend him to anyone for their home-search
Mr Eddie
Mr Eddie
Seller of 127c Kim Tian
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"In short, Rick did an amazing job. He sold our house at a higher than initially discussed price and got us a good deal for our purchase. Both my wife and I are impressed with his professional yet friendly approach. We will definitely work with him again and recommend him to anyone."
Mr Liew
Mr Liew
Seller of 260c Punggol
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Rick is a very down to earth person. No hard sell or pushy technique. He helped us in planning for upgrade and showing us how to invest in property with in depth property analysis report.
Miss Chong
Miss Chong
Buyer of Regent Residences
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His service is superb. With his property mkt analysis skill, I managed to purchase my first property in Singapore. He is always patient and helpful whenever I have any query about property purchase procedure, especially the computation part of the downpayment. In nutshell, I am really grateful and appreciate for his support.
Buyer of Blk 130 Bishan
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Rick is an agent who has displayed his potential in his services. He provided us a very personalised guidance when we first approached him with an intention of purchasing a resale flat. With his knowledge and years of experience has made the entire purchasing process seamless. Thank you Rick for being a great friend and a fantastic agent!
Mr Mark
Mr Mark
Seller of Blk 686a Woodlands
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Rick service has a very personal touch. He was extremely patient and professional and does not rush us into making any decisions he provided us with sound advice whenever we have questions and was always ready to provide help with regards to any matter. What impress us the most was the extra step he went by assisting us with the purchase of our new home, even though this was in no way his responsibility to do so. Thank you for the hassle free experience Rick. Highly recommended
Mr Shawn
Mr Shawn
Buyer of Riverfront Residences
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"It was a pleasure working with Rick throughout my selling and upgrading journey. His recommendations and knowledge of financial calculations and preparations are impressive - even factoring in risk management specific to us, for the next 5 to 8 years. He has shown his expertise in real estate and guided us step by step all the way, making transactions effortless for us. Well done Rick!
Ms Shufen
Ms Shufen
Buyer of Cairnhill Crest
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Rick has been our go-to agent for our past few property transactions He actually patiently brought us to many various property viewings (I think it was more than 10!) before we finally settled on the Cairnhill unit. Rick also helped us iron out all the issues encountered along the way and we are very thankful for his service. Hence, we will continue to engage Rick for all our property related matters. We have encountered many agents throughout the years but Rick is the one that has the most profound display of professionalism, knowledge and dedication in his job. Please keep up the good work!"
Ms Meena
Ms Meena
Seller of Blk 475c Upper Serangoon
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Rick's guidance really helps us to sell our unit at a good rate. He did a excellent job giving us professional assistance from step by step till the keys are handed over to the new owner.
Mr Kingsley
Mr Kingsley
Seller of Blk 91 Tanglin
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We have worked with a few property agents. We find the interests of the agent are not well aligned with either the buyers or sellers as volume of transactions matter more. With Rick, you can be assured that your interests are well protected at all times. It is reassuring that he shares his opnion objectively to allow home buyers or home seekers to evaluate the decisions for themselves. Overall a smooth experience. Thanks Rick!
Ms Su
Ms Su
Seller of Blk 93 Paya Lebar Way
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"Rick was introduced by a close friend of mine. This is my second time buying a flat (first time was 20 years ago) and I have forgotten all the procedure. With no experience dealing with selling and buying, this is my honest testimonial. Rick is a very responsible agent which I've met so far. Fast response to all my enquiries and he answered to all my doubts which I have. Reliable and he knows exactly what to do and will give you his utmost advise and service. I highly reckon Rick to those have the intention of getting property agent. Thanks so much Rick for the help and assistance you have rendered from start until the end of transaction. I would definitely recommend you to my relatives and friends. Cheers
Seller of Blk 227a Compassvale
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My wife and I are grateful that a friend of ours referred us to Rick to help sell our unit. Rick responded fast to all of our queries. In fact, we managed to sell off the unit faster than we expected thanks to Rick. He did not even need to resort to cheesy gimmicks and marketing. The journey was kept professional. Despite the toxic culture of the property industry, we can feel that he is sincere and committed in helping us. He is trustworthy and we felt that we were in safe hands with Rick as our agent.
Ms Sharon
Ms Sharon
Seller of Blk 648 Ang Mo Kio
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I had in the past dealt with agents who were pushy and did not do their homework. But with Rick, I am put at ease with someone who is not only very knowledgeable but understanding. He keeps my family posted on what we need to know, is very diplomatic, tactful and professional. If you need your place sold, you need a reliable person like Rick to help you. Thanks Rick once again. Warmest Regards, Sharon Lim
Mr Sri
Mr Sri
Buyer of River Isles
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Rick was introduced to me by a friend, who has seen Rick while he was helping another client. Rick has played an exceptional role while I was buying a private property. He is patient, humble, polite and a nice human being. I highly recommend him if you are looking for an agent in your property hunting. I worked with several agents but he will be my go to agent for any future deals. It was excellent experience..!
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Self Introduction


Greetings! My name is Rick Long, and I am proud to serve as the Associate Division Director of Huttons Asia Pte Ltd, with over a decade of experience in the real estate industry.

My passion for helping clients find their dream homes has grown exponentially during my tenure in the field. As a graduate of Singapore Polytechnic, I have always valued the importance of hard work and determination.

My prior experience serving in the airforce instilled in me the value of teamwork, perseverance, and discipline.

Over the years, I have been privileged to receive several accolades for providing exceptional service and dedication to my clients.

My ultimate goal is to ensure that each individual I work with has the best possible experience, whether they are buying or selling a property.

One of the most rewarding aspects of my work is receiving glowing five-star reviews from satisfied clients.

Knowing that I have positively impacted someone’s life is truly humbling, and it motivates me to continue striving for excellence every day.

When I am not working, I enjoy spending quality time with my loved ones, indulging my passion for sports, and exploring the rich and diverse culinary landscape of Singapore.

Amidst the bustling pace of life, I relish moments of calm by immersing myself in the art of tea-brewing and teapot appreciation.

Thank you for taking the time to learn a little more about me. I look forward to the opportunity to work with you.

Additionally, Rick is a proud fur daddy to two rescue kitties and loves spending his free time with his wife and furbabies. He believes in giving back to the community and volunteers his time to animal welfare causes whenever possible.

Related Articles:

Ever wonder if you are suitable for Sell one buy two investment concept? – Read more (Sell one buy two)

Is buying new launch or resale condo have better returns? – Read more (New Launch vs Resale condo)

Looking to upgrade from Hdb to condo? – Read more (Sell Hdb buy condo)

What to take note when selling Hdb resale flat? – Read more (Hdb Resale Process)

Buying another Hdb flat, and using the fund from current home? – Read more (Hdb contra)

Why do some Hdb flat price depreciate so much? – Read more (Hdb depreciation curve)

What is one of the most common reason for property negative sales? – Read more (Cpf accrued interest)

Financial calculation for selling a Hdb flat? – Read more (Hdb resale calculator)

Buying EC before selling your HDB? – Read more (Upgrade to EC before selling your HDB)

Should you sell your EC after 5 years? – Read more (Selling EC)

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