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Hi

You must set aside the basic retirement sum. You may text 9620 0827  for a casual chat.

Warmest regards

Gavin Read More

Good evening,

both of you are able to utilise CPF OA funds in your second property purchase after setting aside basic retirement sum of $90.5k in OA+SA.

You have to do the above if you have utilised CPF OA funds in existing HDB and the property can last your wife (youngest owner) till 95 years old.

Hope my explanation helps!

By the way do take note of these cooling measures if you are thinking of getting a second property:

1) CPF restriction (explained)
2) 12% Additional buyer's stamp duty (ABSD)

Perhaps we can have a discussion to weigh your best options and maybe we can have a plan that helps you to save on the taxes?

#staysafe

YT TAN 陈永达 | ACCA Graduate, RES
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Propnex Realty Pte Ltd

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Dear Sir,

Both you and your wife will need to set aside the Basic Retirement Sum of $90,500 (half the minimum sum amount) in your OA and SA before you can use the access amount in your OA to service the 2nd property.

Under such a situation, you will also be liable for the 12% Additional Buyer Stamp Duty which is pretty hefty. You may want to do an analysis of your cash flow and objectives before proceeding with the purchase. With the analysis, you can better understand whether this is the best way forward.

Please feel free to contact me so that I can understand your requirements better and assist you further.

Regards,
Nick Tan
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Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Hi,

You will need to set aside 90.5k (Basic Retirement Sum) in your OA+SA before you can use excess CPF OA for the 2nd residential property. Do note that ABSD of 12% applies and it will be ideal to plan out the financial plan together before making the optimal move.

I have worked on similar cases and will be happy to share the best approach. 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 Realtor
ERA Senior Marketing Director
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Hi Yes you need to set aside BRS and can utilize your OA. Do note your ABSD for 2nd property is 12%. Do contact me at 97970200  to discuss on your options.

Mark, your RIGHT choice
Propnex Read More

Hi Sir,

Yes you're right, you will have to set aside your Basic Retirement Sum before you can use the balance from your CPF to pay for your second property.

Also, if the HDB flat is under both names and you're purchasing your second residential property, you will also be liable for 12% Additional Buyer Stamp Duty (ABSD). This is on top of the normal Buyer Stamp Duty that you will need to pay upon all purchases.

If your objective is to own 2 properties, one for own stay, the other to rent out, I do have a proposal for you to consider. With this plan, you will be able to enjoy substantial savings while owning 2 properties, and yet have a tidy sum as your reserve fund.

I am experienced and well-versed in both HDB resale and private transactions. I will be able to assist you in your property plans.

Should you need require 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

I will be glad to assist

I won't be able to contact you first as I do not have your contact, appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

PropNex Realty Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More

Hi
Both you and your wife to set aside Basic retirement sum ($90.5k) in your individual CPF account before being able to use the excess of OA. I do provide a free and non obligatory consultation in regards to property transactions. Do contact me at 93375051  .

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More