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Hi Guru, if I transfer my pvt property to my wife, does ABSD apply? Or just 3% stamp duty? If ABSD applicable, How is the calculation of ABSD? What is the condition if it come with bank loan or without bank loan?
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5 Answers

Hi;

If you transfer your property to your wife, it depends on whether she is a SC and currently own any property or not? If she already has a property under her name, then ABSD is applicable. The ABSD rate is based on her citizenship & number of property count under her name( even if co-owned is also considered as 1 count).. If your current property still got outstanding loan, then she will need to take up a new loan for it, unless if she has the sufficient cash / CPF to pay for it.. Please feel free to contact me for further discussion as transferring of property is not as simple as it seems, many other back-end nitty gritty stuffs that you need to take note of.. Have a great long weekend !

Regards;
Lyna Song
 9623 8442 
Associate Group Director
Propnex Realty Pte Ltd
lynasong@hotmail.com
https://r025113i.propnex.net Read More
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Hi,

If she is a Singapore citizen who only owns one residential property and will be acquiring additional interest in the same property from you the co-owner, no ABSD is payable on the acquisition.

The approx 3% BSD still applies on the market value of the share amount transferred.

If there is bank loan outstanding, your wife would also need to be able to finance the property on her sole name and income basis as a sole borrower.

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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Dear Sir,

The ABSD percentage depends on whether she is a Singaporean, SPR or Foreigner and her existing residential property count. If she is a Singaporean and do not own any residential property in Singapore then she is only liable for the normal Buyer Stamp Duty which is about 3%.

Please feel free to contact me so that I can understand your intentions better and provide you with further assistance.

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:
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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.
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Hi Sir/Madam

I will be glad to assist
Appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com with details of your unit
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More
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Robbie Chen Chee Howe
Hi Sir,

Whether there is ABSD or not depends on your Wife's nationality, and the number of properties she owns (excluding the property that is being transferred) before the transfer.

In terms of loan, if she were to take over a property that is under loan, she will need to have the capability to secure the loan and finance for it.

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