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Hi Mr Tan,

From the profile of your post, I think I can classify this as an upgrade. Haha. Congrats.

I will answer your questions in accordance to the order you have posted.

1. No. You cannot buy a HDB Resale and condo in the same year. If you purchase your HDB first, then you will need to wait 5 years before you can invest in a private property. If you have purchased your condo first, once you committed to buy your HDB, you will have to sell your condo within 6 months after your HDB purchase. This will also means that you need to pay Seller Stamp Duty of up to 16%.

2. If the EC you are buying is a new launch, you will have to sell your HDB within 6 months after your new EC is ready. You can buy a resale EC and keep your HDB. Of course if you still have a housing loan on the HDB flat, then the maximum housing loan a bank can lend to you is 60% of the purchase price if all conditions are met.

If you have any other questions, please feel free to contact me at 98581322  . To read some of my testimonials, please view www.jeffreyheng.com

Best Regards,

Jeffrey Heng
Associate Director
HSR International Realtors Pte Ltd
Mobile : 9858 1322 
Email : hengjeffrey@gmail.com
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Afternoon Tan,

1) If you were to purchase a HDB unit, you are required to fulfill the MOP before you are allowed to purchase your second property. This would answer your question one and two.
2) To purchase your second property now, given the fact that you have being staying at your place for 7 years is possible, if it's a resale EC. With existing mortgage loan, bank will grant you a max of 60% loan on your upcoming purchase. Of the 40%, 10% must be cash and remaining 30% can be in cash / cash + CPF / CPF. If you were to co-own the unit with your wife, you will not be liable for the ABSD.

FYI
Mike Lim
 96929209 
ERA Read More

Hi Mr/Ms Tan,

You are allowed to buy a resale EC or private condo/apt now while keeping your existing HDB. With an outstanding housing loan, you'll only be entitled to take up a subsequent housing loan of up to 60% of the purchase price or valuation of the next unit you buy, whichever is lower.

Should you decide to downgrade to a smaller HDB, you can only purchase another residential property after the MOP, perhaps you may wish to consider investing in commercial or industrial property. Do take note that you're unable to utilise your CPF for purchasig a commercial or industrial property.

Need further assistance? Do not hesitate to call me for discussion.

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More

Hi,

Regard to your question. Why not you just drop me an email at ot1984pierre@gmail.com or Contact me @ +65 8 2 7 9 8 3 2 7

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