4 Answers

Hi,

ABSD is based on property count at point of purchase application. Hence if you sell your current condo A first, then purchase condo B, your ABSD will be 0% as condo B is considered your 1st property at point of purchase. Usual 3% BSD still applies for all purchases. If its buying condo B first, then selling condo A, ABSD of 7% is applicable, which is not really advantageous to you.

Yes you can purchase resale HDB under single singaporean citizen scheme if you are 35 years and above. Do note you have to sell off all your private properties (local / overseas) within 6 months of key collection to resale HDB. No ABSD is payable.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials)

--- HDB Flat Sellers Uncle "Seng" and Mdm. Png ---

Translation from Mandarin:

We are from the Pioneer Generation, already in our 70s, and have no experience selling HDB flat. As our new BTO is arriving, we considered selling our flat earlier.

We felt he was a patient agent who is willing to hear out our plans and concerns, and explain new HDB selling procedures clearly to us. He is also a hardworking agent who did Roadshows for weeks to create awareness for our unit, and we quickly found a buyer through this avenue.

We also appreciate that he made the extra effort to accompany us down to the Banks and Town Council to help us with the outstanding paperwork procedures, and ensure the sale go through smoothly. Throughout the process, we always felt assured and happy, as Ivan was always professional, accessible and saw things through till conclusion. Ivan will remain as a family friend and we will be glad to invite him over for coffee when our BTO is ready.

--- HDB Flat Sellers Mr. Hayum and Ms. Azizah ---

Ivan has justified our faith in appointing him as our Exclusive Agent. He transacted our unit at 620k, above valuation & highest price ever achieved for our block, within 2 months.

In a slow market, you need a proactive & committed agent who puts the extra effort. Besides advertising in papers & online intensively, he also had personally distributed flyers & spoke to potential buyers in neighboring blocks to increase exposure. Every week there were viewings & feedback.

He actually secured 2 attractive offers but assessed that the 2nd one will be a more smooth transaction. We're glad to have proceeded with his advice for a successful completion. Throughout he was professional and responsive. We wish him a great career and will be happy to recommend his services.

--- HDB Flat Buyers Mr. & Mrs. Lau ---

"As 1st-timer Buyers we had plenty of questions, and were uncertain on how best to proceed. A discussion with Ivan cleared our doubts and our plans could progress quickly. We are comfortable with his working style as he is not pushy, and tries to think from our point of view.

It took us about 8 months & at least 30 viewings to find something ideal, & Ivan was always happy to 'house-hunt' with us, always emphasizing "Don't worry, suit you then buy. Important is that you all buy happy & parents endorse the unit".

Eventually, we got our ideal unit, negotiated below valuation. The financial planning calculations were smooth, breakdown was detailed and schedule of payments illustrated clearly so we know what to expect at each phase.

Every phase of hdb process & timeline was explained in detail & hassle free. If you're looking for an agent who is professional & patient, can give Ivan a call. He values the long-term relationship and looks out for your interests. Thanks Ivan and see you at our housewarming!" Read More
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Hi, ABSD is count based on the point of purchase of the property. Therefore your status as Singapore Citizen right now would additional 7% if you are purchasing your 2nd property without selling off the 1st property. However, if you sell off your property, it would be counted as 1st property for your next purchase and no ABSD involve.

As you are currently owned a private condo, you are eligible to buy resale HDB under single scheme but will need to sell off the condo that you owned now within 6 months after the purchase of the resale HDB.

May I have more info so that could add on value on your housing plan?

Should you have any queries, feel free to contact me at my mobile no. I would gladly be of a service to you.
Good day ahead!

Shawn Yim
CEA Reg. No: R049796J
Propnex Realty Pte Ltd
HP: 9695 4627 
Email: sean_5832@yahoo.com Read More
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Robbie Chen Chee Howe
Hi,

As you are now a Singaporean and own a private property, you will be liable for 7% ABSD should you purchase a second property under your name.

However, if you choose to sell your condo before you purchase another condo, you need not pay any ABSD as it will be considered your first property.

As a single above 35 years old, you can also choose to purchase a HDB resale flat, and will only need to sell your existing condo within 6 months upon completion of the HDB flat purchase.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Joanne Chia 谢诗琳
Good day sir / madam

If you are buying a condo and wish to avoid ABSD , you have to sell your condo before buying another condo to avoid paying ABSD .

Yes you qualify to buy a resale hdb without paying ABSD but you have to dispose your condo within 6months from the purchase of the Hdb .

Kindly contact me for a no obligations chat for your property needs .

My charges are1% commission for exclusive selling rights to your condo , or 2% for open listing .

No commission chargeable when i serve private property buyers .

Joanne chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More
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