4 Answers

YT Tan (陈永达)
Replied
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/
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  • RM
    Replied
    Dear YT Tan,

    Thanks for the clarifications. It is 100% clear. I will get in touch with you once I firmly decide on execution of the plan.
Geryl Lim
Replied
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
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Mike Lim
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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
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Joshua Koh
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Hi Ravi,

If you sell away your HDB which is your 1st property, you will then not hold any property anymore. So buying the private apartment, you will be consider buying your 1st property and 5% ABSD + normal 3% stamp duty applies.

Hope this answer your question. Feel free to contact me if you require my assistance for your sale and purchase.

Best Regards,
Joshua Koh
ERA Realty Network PTE LTD
CEA Reg No: R044856J
HP: 91827557 
EMail: joshuakohyk@gmail.com Read More
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