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Good morning!

Maybe you have miscalculated on your overall stamp duties.

If you are a SC, ABSD for third residential property purchase will be 10%. So overall it will be a 10% + estimated 3%. Overall 13%.

If you sell off one of your two residential properties, this potential purchase will be considered as your second property thus stamp duties will be ABSD 7% + BSD 3%. Overall: 10%

So a difference of 3%. $30,000 based on a $1m property purchase.

If you want to avoid paying ABSD, you can either sell off both properties you have before you purchase. If not, if your units are currently purchased with your spouse, you can try decoupling.

Hope my explanations are helpful!

If you need any assistance in your property needs, feel free to contact me via email or mobile as property guru doesn't prompt us if there's any reply to our post.

Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

Hi,

If you are a Singapore citizen, assuming all the 2 properties are under your name, if you go with:
Scenario 1)
Buy Condo C before selling Condo A, yes it is considered your 3rd property. ABSD + BSD incurred = (10% + 3%) = 13%

Scenario 2)
Sell Condo A before buying Condo C. It will be considered as you purchasing 2nd property. ABSD + BSD incurred = (7% + 3%) = 10%

There are also Seller's Stamp Duties involved if you sell your condos within 4 years of purchase.

If applicable, you may wish to consider de-coupling / or part-purchase of share of ownership, ie. 1 co-owner taking up (purchase/transfer) of the other outgoing owner's share of ownership. This may potentially reduce the BSD/ABSD payable when you purchase Condo C.

Please also take note that if you are taking up bank financing, the maximum loan for 2nd residential property is 50%, and for 3rd & subsequent loan is 40%.

Thanks and hope it clarifies. May I understand your requirements further before value-adding further? Thanks and hope to speak to you soon.

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com Read More

Hi, I would need more details of you current property before giving you advises. You might have chance to avoid the ABSD. Besides, if your aim is to gain from property investment, did you heard about is property saving plan. Do you like to know ?

I am reachable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More