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Hi Cheong San,

Yes, you have understand the requirement very well.

(1) You are only eligible to purchase a resale EC in order to keep existing HDB flat.

(2) As for the price range of resale EC, shall dependent on the size and remaining lease.

(3) Yes, you are eligible to lease out the whole flat upon reaching MOP.

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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Good morning Cheong San,

Yes you are eligible to purchase a resale EC after fulfilling 5 years MOP. You are also eligible to rent out your HDB as well.

Pricing will depends on location and the size of the unit you are aiming for.

Any preferred location in mind?

By the way do take note of these cooling measures for this second residential property purchase:

1) can only obtain up to max 50% bank loan if there's an outstanding housing loan. thus downpayment will be 25% cash and 25% CPF/ cash.

2) if you have utilise CPF OA funds in your current flat, you have to set aside basic retirement sum of $85.5k in your CPF OA + SA first before you can use the excess CPF OA funds in this purchase

3) you will be subject to 7% additional buyer's stamp duty as Singaporean

Perhaps we can meet up over a cup of coffee to discuss and explore your options. I will share more about the property outlook and do up a financial calculation for you so you have a clear direction what is feasible.

I have assisted HDB owners like you to grow their wealth via assets (from 1 to 2 properties and with emergency funds). Let me share with you how to make money work harder for you.

Hear from you soon!

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor

Accolades:

Platinum achiever (Clock $100k commission within 1 month) August 2017(Propnex)
Top Individual Achiever August 2017(Powerful Negotiators Group)
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Find out your property value for FREE on a monthly basis. Simply sign up by clicking the link below:

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Hi Cheong San,

Yes, as a resale EC is considered a private property, you are eligible to purchase such a unit and still keep your HDB flat.

However, do take note that if your HDB is still under loan, you can borrow up to max 50% loan for your second property. You will also be subjected to TDSR requirements.

You will also have to set aside "Half Minimum Sum" in your CPF accounts, before being able to utilise the "excess" in your CPF-OA to pay for the second property.

Lastly, you are liable to pay a 7% ABSD for your purchase as well.

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

Hi Mr Cheong San,

Thank you for your reply.
Let’s address your concerns-

Firstly, resale EC is considered a private property hence, you are eligible to purchase such an EC unit after meeting the MOP of your BTO and can also still keep your HDB flat, and rent it out for passive income to cover your EC instalment. However please take note of these pointers-

1. Loan Quantum :You can obtain max 50% bank loan if there's an outstanding housing loan. thus downpayment will be 25% cash and 25% CPF/ cash.
2. CPF OA Funds- You have to set aside basic retirement sum of $85.5k in your CPF OA + SA first before you can use the excess CPF OA funds in this purchase.
3. 7% Additional Buyer's Stamp Duty as Singaporean

The price of resale ECs may vary , in accordance to your specifications and location. Perhaps you can contact me at 96659926  for a short discussion for me to run you through the overview of the purchase framework, understand your requirements and specifications as well as calculate your finances on hand (Cash/CPF amalgamation) to construct a financial plan with payment timeline to narrow down ideal developments and shortlist exact unit layout type for your perusal. I have actively transacted many resale ECs (testimonials available on website) and since you may be unfamiliar with the process, you might want to tap onto advise and guidance in this regards, at no obligation of course. I will walk you through the entire process from selecting developments/ arranging viewings, handling bank/finance aspect, arrange for your legal processing matters as well as handle all paperwork at no cost. The purchase of private property does not involve agent fees and thus, you will enjoy expertise at every level at no obligation and cost. Furthermore, I will take the opportunity to run you through past and present transaction caveat & illustrate a pricing and sales report with projected returns/ capital gains for you to observe and understand, offering market insights for your consideration. Thank You!

Visit my website for my recent accolades, awards and testimonials@ www.kumarrai.com.

D Kumar
 +65 96659926 
ERA Associate Division Director

#1 team of ERA in Singapore, Asia Pacific International for 2014/5/6/7

ERA 2015 Q1 Top Achievers (Top1%)
ERA Top Achievers 2013-2017
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

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Overall Top 100 achievers 2014-2016 Read More

Hi Cheong San

There is no point of repeating exactly what others have said.

It would be good if you can write to gavin.ng@orangetee.com or call 9620 0827  so that we can assist you in moving forward with your purchase.

Regards

Gavin Read More