4 Answers

Dear Sir/Mdm,

Yes you are able to continue holding on to your private property even if you are no longer a SPR. The CPF that you have paid so far will be refunded back to you as cash when you sell off the property subsequently.

Please feel free to contact me so that I can understand your intentions better and assist you better!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020

Visit my website to get to know me better:
www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

Testimonial from Satisfied Clients
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
Weilun & Benita (Property Seller)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations. We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer) Read More
0
Robbie Chen Chee Howe
Hi,

Yes, you can keep your condo even after you renounce your SPR. There is no legal requirements for you to sell your property after you renounce SPR.

The monies you used from your CPF to pay for the condo will be refunded back to you in Cash upon the sale of the condo in the future.

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
0
Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes you could. As a foreigner is able to own condo property too.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
0
Hi,

1) You may keep your condo for passive income. Of course the rental collected will be subject to income tax at a rate of 22% for non-residents. The property is also subject to annual property tax from 10% onwards.
Do note that this 10% is not based on your condo value. It is based on the average rental income of your type and in your area.

2) Funds in your CPF are your own money. So after selling if your CPF account still exists, it will return the portion used for the property.
If you already closed down your CPF account upon selling, the payout will be in cash.

3) Additional note for CPF savings withdrawal, you have to meet all the eligibility requirements specified by the CPF board:
Based on:
(A) Leaving or left Singapore and West Malaysia with no intention of coming back to live or work, or,
(B) If you are Malaysian and reside in West Malaysia:
a) No longer employed in Singapore
b) Have renounced your SC or SPR or were never a Singapore Citizen or Permanent Resident
c) either:
(i) 55 and above or
(ii) between 50 and 54 and haven't worked in Singapore for 2 years before application of withdrawal or
(iii) physically or mentally unable to work permanently as certified by a doctor.

4) You may refer to the CPF board regarding withdrawal and application:
https://www.cpf.gov.sg/member/account-services/account-closure/closing-your-account-when-you-leave-singapore

Hope the above answer 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

Note:
Any response to our answer does not reach us until we scroll through each and every query posted daily.
The best way to get a follow-up is to Whatsapp or email us directly. Read More
1

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Previously Asked Questions