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Dear Gurus,

We bought our EC since new and is now coming to the 5-year MOP.
Question: After the MOP, can we buy a 2nd pte property as investment and continue to stay in EC? If yes, what are the taxes or duties, etc... involved?
If not, then can we do so after the 10year MOP?
thanks in advance/
Mr & Mrs Ho.
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2 Answers

Ivan Ng
Replied
Hi Mr. and Mrs. Ho,

Once your 5 year MOP is met, you are eligible to purchase a 2nd residential property. However, relevant ABSD of 7% applies if you are local and the max loan quantum will be capped at 50% of purchase price, if you still have outstanding loan. Thanks and hope to value-add to your housing plans further.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
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Rix Jim
Replied
Hi Mr Ho, yes you will be eligible to purchase, as my fellow colleague has mentioned, you will be liable for the ABSD as well as loan cap. there are ways to get around this issue however before we advice you on the best alternative, we would have to find out more on your situation in order to advice you accordingly.
kindly drop me a call or e mail for a more detailed discussion.
Cheers
Rix Jim
 9687 1379 
rix.jim@hotmail.com
Propnex Read More
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