Hi,
Yes, as long as you have fulfilled your MOP.
However, do take note that you will incur an ABSD of 15% should you proceed to buy a second residential property while holding onto your HDB flat.
Apart from that, if your HDB is still under loan, the maximum you could loan for your condo would be 45%, subjected to your TDSR. This means that you will need to fork out 55% as downpayment. Add this to the stamp duty and legal conveyancing fee you will have to pay (~19%), you will need to set aside funds up to 74% of the purchase price. To put things into perspective, a $1 million condo, you will need to set aside about $740k as capital, while taking a $450k loan.
Hence, I'm not so sure if this is the best option for you.
However, I believe there are better options for you in today's market. Let's take this discussion further to see how we can help you with your asset progression.
Should you need require 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
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