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Hello, Seeking for advice. I am SC and my husband is PR, we have property in Malaysia. The only property in Singapore now is HDB, if I sell my HDB then buy a Condo, need to pay for ABSD? If Yes, what should I do to avoid it.
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6 Answers

Hi,

Once you sold your hdb, you no longer have any property count in Singapore. This means there will be no ABSD imposed unless you are buying under your SPR spouse's name. ABSD only considers Singaporean residential property, not overseas.

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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Hi,

Thank you for your query!
Once you sell off your HDB, you could purchase your condominium as a 1st time buyer, with no ABSD.The sales and purchase concurrent phase is rather intricate, and would require the knowledge and expertise of a realtor with regards to adhering to the financial proceeds calculations as well as the paperwork/ finance related matter.

Perhaps you could contact me at 96659926  for a non obligatory discussion for me to derive more info on your unit, advise on the financial sums/proceeds and enlighten my marketing techniques and strategies. It is essential you know the high&varied level of advertisement and exposure your unit would get with the vast networking. I do take pride in my craft and even go the extra mile with an exclusive and exquisite 360* virtual tour and professional videography to enhance the desirability and exposure of your residence. I have additionally transacted a EM unit in Bishan at Record Price and it was published in the Newspaper (Available on my website). It will be apt to share the current transaction caveats for the sales of your unit and customise a sales report for your forthcoming purchase.

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D Kumar
 +65 96659926 
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Hi,

ABSD is based on the property count in Singapore only. There are no restrictions to buy private property unlike HDB, which are considered subsidized flats including resale HDB.
Thus to buy HDB resale or BTO, you are not allowed to hold any property local and/or overseas.

In your case, it is crystal clear that you don't have to pay ABSD for your next property.

However, before dispose off your HDB, you are still required to pay ABSD for the private property, although subject to remission. Do note that there is only a short grace period in order to meet remission criteria.
Thus it is advisable to sell off your HDB first before siging any OTP for your private.

Hope the above answer to 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

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Any response to our answer do not reach us until we scroll through each and every queries posted daily.
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Dear Mdm,

It's alright to have an overseas property as it doesn't affect you when you purchase a local residential property.

For upgrading from your HDB to a condo, the timeline and financial planning are the most important consideration. For you to purchase a condo without paying ABSD and transiting smoothly from your current HDB to a condo without a need for an interim place, meticulous planning is required.

I have personally facilitated many of my clients to upgrade from HDB to condo without the need of paying ABSD. Please feel free to contact me so that I can understand your situation better and provide you with solution!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nicktan.com.sg

Featured on Council for Estate Agencies (CEA) Newsletter:
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“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”

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Mr and Mrs Chan (Sold and Bought a property through Nick) Read More
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Robbie Chen Chee Howe
Hi Mdm,

If you sell off your HDB before purchasing your private condo, you will not be liable for ABSD.

If you purchase the condo before you sold off your HDB, you will incur 10% ABSD for the purchase. However, if you purchase the condo under Joint names, you will be able to apply for a ABSD refund.

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 and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Joanne Chia 谢诗琳
Good day madam .

As per your plans , correct you should sell your hdb before buying a condo to avoid paying ABSD .

The malaysian property your family own will NOT cause your family to pay ABSD.

You may negotiate with the buyer of your hdb to grant your family 3months extension stay in your hdb , this is a negotiable term subject to the buyer agreeable to accomodate your request.

Kindly contact me for a no obligations chat for your property needs.

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

Joanne chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More
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