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Good morning Connie,

You are eligible to purchase a private property (condo/ landed) after MOP is fulfilled.

If you decide to purchase before sale, do take note that additional buyer's stamp duty (ABSD) will be applicable.

If you still have outstanding loan for existing HDB, your loan eligibility will be ONLY up to 45% therefore downpayment will be 55%.

Initial outlay might be up to 81% (55% downpayment + buyer's stamp duty (up to 6%) + ABSD 20% as SC).

If you wish to apply for ABSD remission after purchase, certain conditions must be met in order to do so like:

- existing HDB under your husband and your name and purchase must be under both names as well. IRAS will treat it as matrimonial home.
- sale of existing HDB must be done within 6 months from purchase OTP exercise date

Perhaps you can share your concern with me on why you wish to purchase first so I will be in a better position to advise and assist you in your upgrading journey.

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!

Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

Contact:
Mobile: 9111 51 71 (wa.me/6591115171)
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Morning Connie,

If you are Singaporean, and hdb flat MOP of 5 years met, you can purchase a 2nd residential property (private property) and keep both the hdb and condo. You can also purchase the private property first before selling the HDB, just that you will need to come up with the 20% ABSD upfront first, which can be a hefty sum.

Assuming you are eligible and want to try to apply for the ABSD refund, you need to sell away your HDB within 6 months of confirming the private property purchase via OTP exercising.

I am contactable at wa.me/6597432395 to answer all your queries. Look forward to collaborate on the purchase.

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

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

SEAA Salesperson Achievement Award 2021 (Gold)
SEAA Singapore Accredited Mortgage Planner (SAMP)

ERA Top 93th Achiever for Full-Year 2020 (Top 1.5% Company Level)
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Hi, yes you can purchase a private condominium or landed property while in possession of a resale HDB that fulfilled MOP.

However, there will be charges involved which includes ABSD, Buyer Stamp Duty, Loan Amount which will change the budget you can use for the purchase of the unit.

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
 97396040 
landonchew@email.com Read More

Hi Connie,

1) You have up to 6 months to dispose of your HDB flat after the completion of the purchase.
2) The law firm will inform you to collect the keys for your purchase on the completion date if this is a resale purchase.
3) If you are buying an uncompleted property, it is the TOP date that starts the clock clicking counting your 6 months.
4) You are subject to 20% ABSD if you are a citizen and this is your 2nd residential property inclusive of your HDB flat.
5) If this private residential property is a matrimonial home. You have to pay the ABSD first and claim back within 6 months after selling the HDB flat.
6) If this is not your matrimonial home, you won't be able to claim back the ABSD.
7) If there is an outstanding loan on the current HDB flat, your maximum loan for the purchase will be limited to 45% LTV.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answer your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
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https://www.linkedin.com/in/ckling/

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Hi Connie,

Yes, you can purchase a landed or a condo as long as you had met your MOP to your HDB flat.

However, do take note that ABSD of 20% applies if you purchase the second property without selling off the HDB flat. You may be able to claim back ABSD refund if the second property is being bought as a matrimonial home, and that you sell off your HDB flat latest within 6 months of your second property purchase.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More

Hi Connie,

Assuming you are a Singapore Citizen, as long as you have the finances to purchase first, you are ok to purchase first and even keep the possession of HDB, however, Additional Buyer's Stamp Duty will be applicable. It will depend on the manner of holding for your HDB as well as landed property, where you maybe eligible to apply for ABSD remission if you sell your HDB within 6 months of purchasing your private condominium.

I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Senior Division Associate Director
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
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Hi Connie,

Yes you are allowed to buy a private property after fulfilling your MOP. However, you will be liable for the Additional Buyer Stamp Duty of 20% which you need to pay upfront. Your loan will also be much lower at 45% if you still have an outstanding loan for the HDB.

If your intention is to pay the ABSD and apply for the remission after you sell your HDB flat within 6 months, you will need to fulfill certain conditions to be eligible. The private property must also be bought under both you and your husband name so that you can get the ABSD refund.

I have assisted my clients in purchasing first, paying the ABSD upfront and subsequently claiming back the ABSD from IRAS after the sale of their first property. Please feel free to contact me so that I can understand your situation and intentions so that I can assist you better!

Regards,
Nick Tan
(M) +65 96 44 48 54
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

SEAA Salespersons Achievement Platinum Award 2020/2022/2023

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I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
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Hi, appreciate your sharing. Able to share over zoom, as ABSD issue. Propose to plan in advance
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Selling your HDB flat:

You have 6 months to sell your HDB flat after purchasing a new property.
Key collection for resale transactions happens upon completion through the law firm.
For uncompleted properties, the 6-month countdown starts when the Temporary Occupation Permit (TOP) is issued.
ABSD (Additional Buyer's Stamp Duty) for Singapore Citizens:

20% ABSD applies when buying a second property, including your HDB flat.
ABSD Refund:

Applies only if the private property is your matrimonial home.
You must pay ABSD upfront and claim a refund within 6 months of selling your HDB flat.
HDB Loan and New Property Purchase:

If you have an outstanding HDB loan, the maximum loan for your new property is capped at 45% Loan-To-Value (LTV).
IF you Need Further Help--->> like : Renting / Selling / Buying or Investing Read More

Selling your HDB flat:

You have 6 months to sell your HDB flat after purchasing a new property.
Key collection for resale transactions happens upon completion through the law firm.
For uncompleted properties, the 6-month countdown starts when the Temporary Occupation Permit (TOP) is issued.
ABSD (Additional Buyer's Stamp Duty) for Singapore Citizens:

20% ABSD applies when buying a second property, including your HDB flat.
ABSD Refund:

Applies only if the private property is your matrimonial home.
You must pay ABSD upfront and claim a refund within 6 months of selling your HDB flat.
HDB Loan and New Property Purchase:

If you have an outstanding HDB loan, the maximum loan for your new property is capped at 45% Loan-To-Value (LTV).
IF you Need Further Help--->> like : Renting / Selling / Buying or Investing Read More