4 Answers

Dear sir,

As the purchase of the private condo has been made under your wife's name, you are unable to claim back the ABSD paid even if you can sell within the 6 months period as the remission is only applicable for the sale and purchase of your matrimonial home (both husband and wife must be co-owners for both properties).

In addition, suppose you sell the current HDB, you will be unable to purchase another resale HDB under your own name as both of your wife and you will be considered as an entity for the purchase and she will be required to liquidate her private property within 6 months from completion of the purchased HDB.

Perhaps you can sell your existing HDB and purchase a low quantum private condo for investment under your own name if finances permit.

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Geryl LIM
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Unfortunately you are not eligible for ABSD remission as the 2nd property was purchased under your wife's sole name only, even if you dispose off your HDB later.

As both you and your spouse are considered one married entity, for resale HDB purchase, you have to apply with your wife under public scheme. You can't just purchase resale HDB on your sole name.

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,
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

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Robbie Chen Chee Howe
Hi Sir,

Let me help you with your queries:

1) Sorry to inform, since your wife bought the private condo under her single name, she is not eligible to claim back the 7% ABSD that she already paid. You can only claim the ABSD refund if the purchase is under joint-name, and you sell your current HDB within 6 months.

2) Yes, you are free to buy a resale HDB flat after selling your current HDB under your single name. However, this is not advisable. This is because, your wife will have to be the essential occupier for this HDB flat. Which means, she will have to dispose off her private condo within the first year of the purchase and be liable for 16% SSD. Thereafter, both of you will have to fulfill another 5 years of MOP before any of you purchase another property.

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
Hi Sir,

1) Unfortunately, you will not be eligible for the ABSD refund in this case.

2) My advise is to rent out the HDB. HDB do not allow decoupling anymore and therefore if you wish to purchase a HDB, you will need to purchase it together with your wife and she will be required to sell the private property within 6 months.

Living in the private property and renting out the HDB seems to be the best option for you!

Please feel free to contact me if you have further queries.

Nick Tan
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“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
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