Buying resale HDB flat

Nowadays buyer of HDB resale flat must engage own solicitor probably due to the commercial bank loan. One may need to fork out some $2K, for example $1870 at Sim Mong Teck & Partners at HDB hub, for the legal fees:

** Solicitor's charge $850
** CPF cost $118
** Lodgment fees on caveat, transfer & mortgage $140
** Stamp fees on mortgage & transfer $510
** Disbursement - various searches $100
** Disbursement - transport, photocopy & incidentals $80
** GST $80

HDB market is on the upswing and its prices shot up 3% in the 2nd quarter, the biggest jump since 1999. 8700 transactions are reported in the quarter, or 38% up on the previous quarter. As the 'soft intervention' to the crazy market since this year, URA & HDB started to release more & new type of statistic data to provide true, sufficient and timely information (see at hdb.gov.sg).

Together with SLA's releasing more lands for developing new office & residential properties, HDB also announced its plan to offer 3000 new flats in the second half of this year.