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Good day to you.

HDB regulations stipulate that homeowners are not allowed to possess two HDB units concurrently. In your specific case, HDB grants a concession period of six months to facilitate the sale of your current HDB unit, starting from the date you collect the keys to your new HDB unit.

As you navigate this process, there are several key challenges you should prepare for:

1. **Sufficient Down Payment:** You will need to ensure you have adequate funds set aside for the down payment, which is typically 25% of the purchase price. This amount is crucial for securing your new unit and demonstrates your financial capability to lenders.

2. **Bridging Loan Costs:** If you require temporary financing to cover the gap between selling your existing home and purchasing your new unit, you may consider a bridging loan. It's essential to factor in the additional costs associated with this loan, including interest rates and fees, as these can significantly impact your overall budget.

3. **Realistic Pricing and Systematic Transition:** When determining the asking price for your current unit, be realistic based on comparable properties in your area. It's advisable to work with a real estate agent who can provide insights and help you set a competitive price. Additionally, creating a systematic transition plan can ease the stress of moving. This includes scheduling viewings, coordinating the sale process, and planning your relocation to ensure a smooth transition to your new home.

By being mindful of these factors and planning accordingly, we can navigate the process of selling your HDB unit and acquiring a new one more effectively.

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Regards
Mike Lim
 96929209 
R026708F
m52i@yahoo.com
ERA Read More

Hi

You may want to call in IRAS to confirm on this. On the IRAS FAQ website, there is a similar example on this which indicates

I am an SPR owning one private apartment. If I downgrade to a HDB resale flat, do I need to pay ABSD on the HDB flat?

As HDB’s rules require buyers to dispose of all their private properties within 6 months from the completion date of the HDB resale flats, the ABSD remission will be given upfront. You only need to pay ABSD at 5% instead of 30% when you buy the HDB flat.

https://www.iras.gov.sg/taxes/stamp-duty/for-property/buying-or-acquiring-property/additional-buyer's-stamp-duty-(absd)

By the same principle, since HDB rules require you to sell off your existing HDB within 6 months of buying the next HDB as well, it seems that it may be possible for ABSD remission. Would suggest you call in or write in to IRAS to confirm accordingly.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

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Mr. Emman & Mrs. Charo Moneda : We are extremely pleased to have engaged Ivan Ng to assist us in the sale of our 3 RM HDB flat and buying a 4RM HDB flat. Ivan made the stress of selling & buying our house as minimal as possible! We thank him for bearing with us and adjusting with the different demands. Ivan displayed an exemplary drive to ensure that we were able to sell and buy our property within the given time frame. He used his very good negotiating skills to obtain the very best deal for us. A very dependable property agent. We recommend him without hesitation. Thank you Ivan! Read More

Yes, ABSD applies.

If a Singapore PR buys a second residential property (like a resale HDB) without first selling the current one, they’ll need to pay 30% ABSD on the purchase price or market value, whichever is higher.

Unlike Singaporeans, PRs cannot get a refund even if the first home is sold later.

To avoid this, the first property must be fully sold before buying the next.

Want help planning your next move? Just reach out anytime. Read More

You might wish to engage the services of a professional agent who can help you manage on the required timelines so you do not end up in breach of HDB policies or incur unnecessary taxes.

A good agent would also give you the best chances for securing the highest price for your current flat while negotiating the lowest price for your new resale flat.

I'm a Harvard graduated real estate agent with a degree in economics, and I have a decade of experience working on Singapore public policy. I would love to schedule a free consultation to discuss your options if you need any support.

Feel free to reach out via whatsapp or email below.

Kay Cloud
The Harvard Educated Agent
Propnex Realty Pte Ltd
cloud@propnex.com
Tel: (+6.5.) 8.5.6.7.4.5.8.5
Whatsapp -> https://wa.me/6585674585 Read More

Hi,

1) You will not be subject to ABSD when switching from HDB flat to HDB flat other than those SPR family purchase.
2) The IRAS will treat the purchase as a 1st residential property purchase.
3) So, you will only be subjected to a 5% ABSD in the switching.

All The Best!!!

Hope the above answers your main concerns, but if there are more queries, please feel free to contact me at 90110636  or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://www.linkedin.com/in/ckling/
https://agents.huttonsgroup.com/R056727F/

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Any response to our answer does not reach us until we scroll through every query posted daily.
The best way to get a follow-up is to contact us directly via WhatsApp or email. Read More

Hi Sir/Mdm,

If both of you are SPR, then you are not eligible for the ABSD remission and therefore you will pay a higher stamp duty of 30% if you purchase another HDB flat without selling the current one.

For your case, I would suggest selling and buying concurrently with the selling first so that you can avoid paying the higher tier ABSD. I have assisted many clients in planning their timeline this way. Please feel free to contact me so that I can understand your intentions and assist you further!

Regards,
Nick Tan
(M) +65 96 44 48 54
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With his help, we finally managed to sell our unit at a price within our expectations, before the d Read More

Hi, appreciate your sharing. Able to share the back to back plan and options for you to consider before proceeding.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

There are conflicting versions on this from my understanding therefore it is best to check with IRAS on this matter. Read More

1. HDB does **not allow ownership of two HDB flats at the same time**. You're given a **6-month grace period**—starting from key collection of the new flat—to sell your existing unit.
2. If you’re a **Singapore PR (SPR)** and buy a second residential property (including a resale HDB) **without selling the current one first**, you must pay **30% ABSD** on the purchase price or market value (whichever is higher).
3. **PRs are not eligible** for ABSD remission—even if the first flat is sold later—unlike Singapore Citizens. If both owners are PRs, this higher ABSD **cannot be avoided unless you sell first**.

**Suggestion**: **Sell your current flat before buying the next one** to avoid the 30% ABSD.

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QUOTE OF THE DAY " In negotiations, the most important thing is not to win or lose, Read More