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Good morning,

Should you purchase a condo under your son's name, the mortgage have to be taken under his name unless you opt to pay it with cash. ABSD of 5% is payable on top of the purchase price. During the case that your son obtain citizenship and decided to get a HDB unit, he will still be eligible for resale HDB under bank loan. If he is looking at BTO unit, he would have to wait for 30 months before he will be eligible.

Do feel free to contact me should you require additional assistance.

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

Hi.

I am currently assisting one of my client from Indonesia. Same situation, helping them to look for a condo but under his son name(who is a PR and living in Sg)
Mortgage will have to be under Son name. Stamp duty will be as follows:
3% - $5400 (BSD)
5% (ABSD)

Do note that he will have to sell of any Pte Property before he can opt for a HDB.

Do feel free to contact me for a discussion on how I can assist you.

Darrance
Propnex
 85186463 
Darrancekoh@gmail.com Read More

you should discuss with your children. if he ok, to let family member stay together with him. if yes, buy this house for him as your gift to him.

regards
Wilson
 96305577  Read More

Dear sir/madam,

In the scenario above, should your son decide to purchase a HDB later, he will only be eligible to purchase a resale HDB, if the unit is purchased under his name to pay lesser ABSD for this purchase. He will also need to dispose this purchase within 6 months from taking possession of his HDB. To be eligible to purchase directly from HDB, he will need to sell this purchase and sit out for 30 months before applying to purchase directly from HDB if we are basing on current regulations.

The more straightforward option if he has plans to purchase direct from HDB will be to purchase this property under your name and pay the ABSD for foreigner.

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B) - Century 21
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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Hi,

You can buy the condo under your son's name, but if he is the sole owner of the condo, the loan will only be under his name.

In future when he gets married, he is only eligible to buy a HDB resale flat, and he will need to sell off this condo within 6 months upon completion of his HDB flat purchase.

If you do not want affect his chance of getting a BTO flat in future, you should consider buying this condo under your name.

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 in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi do contact me at 97970200  or ngsiewwhye@gmail.com with more details to discuss on an ideal solution for you.

Mark, your RIGHT choice
SRH Read More

Hi Sir

To put into simple terms:

1. Purchase condo have to pay stamp duty 3% plus ABSD 5%

2. Once obtain citizenship, can purchase brand new BTO but have to wait for 30 months after selling the current condo
OR
can purchase Resale HDB Flat but have to sell off condo within 6 months after obtaining keys of flat.

In Short, i would recommend you to purchase a condo and stay put at such...

THanks.

Raymond Lim
CCN Realty Pte Ltd
 91388805 
MBA/BSc(HONS)
Email: raymondshaq@hotmail.com
Website: ray91388805.blogspot.com Read More

Hi,

I would suggest purchasing a condo for Long term view.
Perhaps you could furnish me with your exact requirements and finances on hands to conduct the financial cash calculations/ progressive payments to shortlist & negotiate for the best possible price of the residences units you could otherwise consider. At the same time, I will take the opportunity to run through the key financial loan approval process, share some market insights/ provide you with recent sales transaction caveats and explain the entire procedural framework involved.

D Kumar
 +65 96659926 
ERA Associate Division Director
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