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Currently I'm 34yrs old and my 4rm HDB in Sembawang just MOP. It's under my name as sole owner and my wife was added as an occupant when we purchase the flat. Now she gotten her PR for 4yrs and would it make her as a first timer if she get her condo on her own? Or I transfer the flat to her and loan from my side as my income is much higher than her?
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6 Answers

Hi,

Yes it will be considered as 1st property purchase for the condo, but ABSD of 5% applies still as she is PR. You can't transfer ownership to her as hdb only allows transfer of ownership in exceptional cases such as financial hardship. You may want to consider purchasing under your name instead as you can get a higher loan, although your ABSD will be considered 7%.

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

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Good morning,

If your spouse were to purchase private property, ABSD payable will be 5% as it would be considered as her first property. Mortgage will be calculated based on her income and she can utilize her CPF for the necessary payments, less ABSD. If you were to purchase your second unit, ABSD payable will be 7%. Mortgage loan will be max of 50% if your current unit is still on mortgage. You will have to set aside the required CPF Basic Retirement sum before you can utilize the balance for the payment on your second property.

Do feel free to contact me should you require additional assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Hello. Firstly you cannot transfer your hdb to your wife.Secondly if you wife loan is not sufficient to borrow,can utilise yours as well. I have assisted many to do so.Please reach me via 91442664  for a detailed chat or discussion.

Looking forward to hear from you.
Tricia Tan 91442664  a Read More
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YT Tan (陈永达)
Good evening buyer,

I am afraid to inform you that you are unable to transfer the ownership of HDB to your wife as sole owner as both of you are married thus you have to maintain the family nucleus.

Since you are looking at option to hold on to your hdb and own a private at the same time, I might have something for you in which you can use both incomes and wont subject to ABSD. You can still have the option to rent and stay at the same time.

Will you be keen to find out more?

At the same time, do let me share with you on one of clients that I am helping them to upgrade or grow their property portfolio (we just spent 6 hours viewing properties last sunday).

They will be selling their 4rm flat (havent fully paid) and intend to purchase an unit for own stay and the other for investment after a few rounds of detailed financial planning.

You might not believe. This plan will be funded entirely by their sale and they wont be coming out with any amount from their savings. They would have reserved funds up to 4 years to finance their homes even if they dont work.

I would or would not say this will be possible for you as well but with detailed financial planning, you will have a clearer picture what is feasible for you.

May I know when's a good time to meet up?

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor

Find out your property value for FREE on a monthly basis. Simply sign up by clicking the link below:

http://bit.ly/yt_proptrack Read More
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Joanne Chia 谢诗琳
Good day sir

As per your plans , your wife will have to pay ABSD since she is a p r if she buy a property as sole owner .

You are not able to transfer your hdb to her .

Alternatively you may want to consider selling off your hdb and buy a condo together with your wife , the advantages are NOT having to pay ABSD and may borrow more with two income and 2 owner.

Kindly contact me joanne chia 8333 3327  for a no obligations chat for your property needs .

My charges are 1% commission for exclusive selling rights ( sole agent ) to your hdb , or 2% for open listing (many agent) .

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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YT Tan (陈永达)
Good afternoon,

Do let me share more on one of my current clients.

Their current property sale will be a negative sale (same as you) but they still willing to consider to upgrade because they feel that it's the right time to do so now.

I shared with them how's the market will be moving for the HDB and private segement in time to come. They agreed with me based on statistics and news articles that I have.

Perhaps we can meet up over a cup of coffee so I will be in a better position to advise you further.

Hear from you again!

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor

Find out your property value for FREE on a monthly basis. Simply sign up by clicking the link below:

http://bit.ly/yt_proptrack Read More
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