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Hi Ravi,

If you choose to sell your HDB first and buy a condo, the condo will be considered as your "first" property you own, is not the number of times you own a property.

Thus you will be subject to ABSD of 5%. But if you are purchasing with a Singapore citizen spouse, you will not be subject to any ABSD (ABSD relief).

Hope it helps!

If you need any assistance in your property needs, I am just a call away.

Hope to hear from you soon!

Cheers!

Warmest Regards,
YT TAN
Senior District Manager
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
ECG Property Pte Ltd Read More

Hi Ravi,

Fret not about the confusion. We are here to assist consumers like yourself to find the right answers to your doubts, understanding that the slew of measures that the government has introduced would be confusing to you who do not deal with real estate daily.

What my fellow colleague YT has mentioned in right. The terminology reflected as 1st property simply indicates the number of property you are holding on to concurrently and not the order of the property which you have owned before.

As a Singapore Permanent Resident, you are subjected to 5% (ABSD) + 3% (Normal buyer stamp duty) for the purchase of next property, if you are looking to sell your current property.

To sell and purchase requires proper planning as I am sure you do not wish to end up having no roof overhead during the transition. Engage someone who has experience in this type of transaction to assist to avoid hiccups.

Let me know how I may assist you further.

Regards,

Geryl LIM
Senior District Manager/Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com
ECG Property Pte Ltd (L3009759F)
Dynamic Alliance Group @ www.DAG.com.sg
ECG Landed Dynamic Alliance (Home of *7772 Hotline) - We Sold More Than 100 Landed Homes
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed7772" in Mobile Apps Store or Play Store now!

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Afternoon Ravi,

The term "first property" is referring to first property in holding. If you sell away your HDB unit to purchase the condo, your first property in holding will be the condo.

I hope my answer managed to help you get a clearer picture.

Regards
Mike Lim
 96929209 
ERA Read More