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Good morning Shane,

I understand where you coming from.

Hope you understand that it wont be easy for your wife to get approval to buy a landed under her name. Thats first. Secondly the landed segment has been hot at the moment, chances of owner granting you an option to purchase and wait for your wife to go through the LDAU approval might not be high.

If a landed seller receive same offers from you and another buyer, seller might prefer to sell to another buyer who is a straight forward case.

You wont be able to sell your flat to your children or wife + child because both you and wife are married and considered single entity or family nucleus so both of you have to be owners.

And i do understand you love your current place but things gonna move. if minimum landed price is $3.5m nowadays, 12% ABSD = $420k. I will suggest you to sell off your HDB, rent a temporary place with this $420k and portion of it still can go into your rebuild funds.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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Hi Shane, do contact me at 97970200  to understand more and discuss on your options.

Mark, your RIGHT choice
Propnex Read More

Hi Sir

I just assisted my client who have similar concern
I will be glad to assist you as well
Appreciate if you can contact me at (65) 96608508  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

Hi Shane,

1) The chances of your wife as an SPR to buy the landed property is almost impossible according to our understanding of current policy.
2) The chance of an SPR allowed to purchase a landed property is when this SPR has a significant contribution to Singapore's economy likely to be successful in such application.
3) The idea of selling your flat to your son+ wife is also not feasible, because she is still under marriage status. Her spouse must be in the application as well and she cannot be the sole owner since you are an SC.
4) The only possible solution for you to own the landed and the HDB at the same time is to fulfill the MOP and purchase the landed with 12% ABSD.

Hope the above answer to 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

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Hi Shane,

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.

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

Hi there,

Thank you for your query.
As preliminary, it would be apt to sit down and compute a comprehensive financial calculations to establish prudence. Thereafter, I will run you through all your doubts succinctly so that you are clear. Afterwhich, I can propose which options you could consider taking into consideration long term yields. I have handled many complex and high end transactions and specalise in such computations and technicalities. Any advise or computation given here would be brief , and not tailored succinctly for your proposed plans. There are many factors to asses when picking the right development - location? amenities? accessibility? future capital gain %? Rentability?

Let me share with you some transaction caveats and history of sales in the given developments and surrounding developments for you to have a better outlook on the investment scene.
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.

The purchase of a landed 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!

D Kumar
 +65 96659926 
ERA Associate Division Director

#1 team of ERA in Singapore, Asia Pacific International for 2014/5/6/7/8/9/2020

ERA ‘2020 Q1 Top Achievers (Top1%)
ERA Top Achievers 2013-2020
ERA Multi-Million Dollar Club Award ‘2020
2014-2020 ERA Asia-Pacific Business Conference Elite Award

P Group
Overall Top 100 achievers 2014-2020 Read More

Hi Shane,

Base on your above described scenario, should you go for Option 1 and purchase the landed property under your name, ABSD payable is 12%. However, do take note that should your current HDB flat is still under loan, the maximum LTV for your landed purchase would be 45%. This means that you will have to fork out 55% + 4% + 12% = approx 71% of the property price. Not sure if you're prepared for this amount?

Option 2 is unlikely, unless your Wife has made major economic contribution to Singapore and has been SPR for a long period.

Option 3 is not possible as well, as HDB does not allow you to withdraw ownership of the flat and pass it to your Wife, unless in the event of a Sale.

Hence, you might wish to explore other options if you are not ready for Option 1.

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

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