AskGuru Q&A Community

Hi Mr. Kok,

For SPR to purchase HDB resale flat, there must be 2 SPRs who have obtained SPR for at least 3 years and they must form a family nucleus to purchase.

For new ECs purchase, there must be at least 1 citizen in the application and they must form family nucleus as well. Also if you are disposing private property(condo), you can't apply for new EC until 30months have passed since the sale of condo.
For resale EC, no such problems, its like buying another resale condo.

Thus, assuming buying HDB resale seems more likely for your case, you have to sell your condo within 6 months of key collection of HDB. Stamp duties will be about 3% of purchase price, no ABSD as you have to sign an undertaking to sell your condo.

Also if you sell your condo within 4years of purchase, seller's stamp duty of condo sale price is applicable, and the rate (16% to 4%) depends on how early you sell.

May I speak to you to understand your requirements further? Will be glad to do a detailed financial calculation. Thanks and hope to speak to you soon!

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com Read More

Good morning Mr Ang,

Let me elaborate more on the housing rules and regulations.

Purchase:
To be eligible to purchase a resale HDB, you need to form a family nucleus with another SPR or SC. If you purchase it with a SPR, you will be subject to 5% ABSD while not applicable if purchase with a SC.

Do take note that both SPRs must fulfill residency status of 3 years each before they can purchase a resale flat.

If you are purchasing a new EC, you need to observe a waiting period of 30 months before you can apply and one of the applicants must be a SC. So you might want to turn to resale EC.

Other cost: buyer's stamp duty, valuation fee, legal fees etc.

Sale:
Depends on your purchase date, to see whether are you subject to seller's stamp duty.

Hope my explanations aid in your decision making.

If you need any assistance in your property needs, feel free to contact me.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

I'm sorry, to clarify, there will be 5% ABSD applicable on SPRs purchasing 1st HDB, instead of what I previously mentioned. Thanks and sorry hope it clarifies.

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com Read More

Hi Mr Kok.
Let me assist you. Do give me a call at 91442664  to discuss in details.
Tricia Tan propnex
 91442664  Read More

Good evening,

the seller's stamp duty that is applicable to your potential sale will be 12% as you are only into your 2nd year of ownership. If you sell on/ after Jan 15, SSD applicable will be 8%.

AS for your purchase, stamp duties is estimated 8% of purchase price (estimated 3% buyer' stamp duty and 5% additional buyer's stamp duty as SPR). But have both of you fulfill the SPR status of 3 years each?

Maybe you can provide me more information on your current unit (project purchase price) and your HDB purchase (unit type, budget) so I can draft out a financial plan to advise you further.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

Apologies for late reply as Propertyguru doesn't prompt us if there's any reply to our post. Maybe we can communicate via email or mobile.

Yes, the SSD applicable to you will be 8% if you issue OTP on/ after Jan 2015 but you can start marketing it before that.

FYI.
Jan to Dec 2013 - 16%
Jan to Dec 2014 - 12%
Jan to Dec 2015 - 8%
Jan to Dec 2016 - 4%
Jan 2017 onwards - no SSD.
As a private property seller, you will need to incur legal fees around $2500 to $3000 and agent's commission. Probably penalty for early redemption of bank loan as well.

While for your potential HDB purchase, as both of you are SPRS, thus you will be subject to 5% ABSD on top of 3% BSD. If one of you is SC, then there won't be any ABSD. Other costs will be valuation fee, resale submission fee, legal fees, agent's commission etc other than the 20% downpayment (5% cash and 15% CPF OA downpayment or cash if shortfall).

Hope to hear from you soon so I can further assist and advise you on your property needs.

Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More