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Hi,
Both husband and myself intend to buy a resale flat soon. We are PR and currently pending for our citizenship. May I know if I can buy resale flat now as we have a property in Malaysia? Also, if we buy HDB now and we get our citizenship in 1-2 months later how would it affect the whole process? Eg. ABSD, oversea property etc.

Appreciate your advice.

Thank you
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5 Answers

Good day!

PR Buying 1st Property need to pay additional 5% stamp duty, If you or any person listed in your resale flat application owns a private property either locally or overseas, you must dispose of all private properties before or within 6 months of the resale flat purchase. Please contact me 98589530  for discuss more more.

Mandy 谢淑婷
 98589530 
OTT/AAG Read More
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Hi

Under the current housing policy, ABSD is applicable for SPR.

Buying a HDB will require you to dispose off your Malaysian property.

Your citizenship will not affect the transactional process as your purchase will be based at point in time. ie you will not be refunded the ABSD should your citizenship come after the purchase.

You may text 9620 0827  for a casual chat. We have supported numerous SPR and newly "minted' citizen in their purchase.

Warmest regards

Gavin Read More
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YT Tan (陈永达)
Good evening,

May I know when did you guys apply for citizenship? If its been awhile, probably we can wait for SC approval to save on that 5% ABSD.

At the point of exercise, you guys purchase an unit as SPR, ABSD 5% will still be applicable.

Be it SPR or SC, you will be required to dispose off private property be it in Singapore or overseas within 6 months from resale purchase completion date.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

Contact:
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Email: yt.tan91115171@gmail.com

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To find out what’s the estimated valuation of your existing house, try our SRX property tracker.

You will receive free sms update on a monthly basis.SRX property tracker: http://bit.ly/yt_proptrack Read More
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Robbie Chen Chee Howe
Hi Mdm,

Should you proceed to purchase the HDB resale flat before attaining your Citizenship, you will be liable for 5% ABSD. This is non-refundable, even if you attain your Citizenship along the way.

If you're certain of attaining your Citizenship, I would advise you to purchase the flat after you have gotten your Citizenship to save on the ABSD.

You will need to dispose off all interests in private property (local and overseas) latest within 6 months upon the HDB flat purchase.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

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
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Hi,

1) If you go ahead to buy now you are subject to 5% ABSD.
2) If you buy after collecting your citizen document, you saved on the 5% ABSD.
3) You can only apply for a bank loan for both (1) & (2) because in order to be eligible for an HDB loan. None of you can hold private property (local/overseas) within 30 months.
4) You have to dispose of your overseas residential property within 6 months upon key collection.

Hope the above answer to your main concerns, but if there are more query, 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://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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