Why Yishun upgraders are watching Chencharu
For an HDB upgrader in Yishun, the hardest part has often been finding a new private home without leaving the town where the children go to school and the grandparents live. With few new launches in Yishun for years, Chencharu Central Residences gives these families a local option, with 3- and 4-bedroom homes making up most of the mix.
Step 1: Check your eligibility
- Minimum occupation period (MOP). You must have lived in your HDB flat for its MOP, usually five years, before you can buy a private property.
- Total Debt Servicing Ratio (TDSR). Your total monthly debt payments, including the new loan, cannot exceed 55% of gross monthly income.
- Loan-to-value. With no other outstanding housing loan, banks may lend up to 75%. If your HDB loan is still outstanding, the LTV drops to 45% unless you redeem it.
Step 2: Sell first or buy first?
| Sell HDB first | Buy condo first | |
|---|---|---|
| ABSD | None (first property) | Pay upfront, then claim a refund if eligible and you sell the flat within 6 months of the condo's TOP or CSC (whichever is earlier) |
| Loan-to-value | Up to 75% | Up to 75% if the HDB loan is redeemed, otherwise 45% |
| Housing gap | May need to rent while the condo is built | Stay in your flat during construction |
| Risk | Low | Must sell within the 6-month window |
With a new launch, many upgraders buy first. They live in their flat during construction and sell it within six months of the condo's TOP or CSC, whichever is earlier, to claim the ABSD refund. Because instalments under the progressive payment scheme start small, the overlap is easier to manage than with a completed property. Check your exact numbers before you commit.
Step 3: Work out your budget
- Estimate your flat's sale price and outstanding loan to find your cash proceeds.
- Check how much CPF you will get back into your account (principal used plus accrued interest).
- Get a bank in-principle approval to confirm your loan amount.
- Add stamp duties, legal fees and renovation to find your real budget.
*At full loan drawdown. Under the progressive payment scheme, instalments start small and rise as construction progresses. ABSD rates as at the latest MAS/IRAS announcement; check IRAS before you buy. This is a guide, not financial advice.
Step 4: Plan the timeline
| When | What |
|---|---|
| Now | Confirm MOP, get IPA, estimate HDB proceeds |
| Preview (target 1Q 2027) | Choose a unit, pay 5% booking fee |
| Within 8 weeks | Sign S&P, pay the balance of 20% (cash and CPF) |
| During construction | Progressive payments; keep living in your flat |
| About 6 to 9 months before TOP | Start marketing your HDB flat |
| Completion (TOP) | Collect keys, move in |
| Within 6 months of TOP or CSC (whichever is earlier) | Complete the HDB sale and apply to IRAS for the ABSD refund |
Comparing other upgrader options
Some Yishun families would rather move closer to the city, schools in Serangoon and Bishan, or the Circle Line. If that is you, read our HDB upgrader guide for One Chuan Grove at Lorong Chuan. The rules on MOP, ABSD and timing are the same; the location and budget trade-offs are different.
Want a personal upgrade plan for your flat? Register and we will work through the numbers with you.
Frequently Asked Questions
Can I buy Chencharu Central Residences before selling my HDB flat?
Yes, once your flat has met its minimum occupation period (MOP). Married couples with at least one Singapore Citizen spouse who buy the condo jointly may pay ABSD upfront and apply for a refund if they sell the flat within six months of the condo's TOP or CSC, whichever is earlier. Because Chencharu Central Residences is a new launch, that deadline falls after the project is completed, not six months after booking.
How much cash do I need to upgrade?
For a first housing loan, the down payment is 25%: at least 5% in cash and 20% in cash or CPF. You also need cash or CPF for Buyer's Stamp Duty and, if applicable, ABSD paid upfront. Use the calculator on our price page.
Does the progressive payment scheme help upgraders?
Yes. Under the progressive payment scheme you pay 20% upfront, then instalments as construction progresses. Monthly loan payments start small while you may still be living in your flat.