5 Answers

Geryl Lim
Hi Anthony,

Congratulations for fully settling your HDB housing loan and it is indeed a good time to start looking out and planning for further options.

Nevertheless, why are you not considering selling existing HDB if you will be subjected to ABSD if you purchase another residential property of bigger quantum sum? I have clients who have shared with me that they are retaining their 1st property because of the sentimental values it offers to them which is immmeasurable in terms of dollars and cents. Is that your case too?

The general rental market is not doing well, and it could take quite a while in order to recoup the ABSD paid over a couple of years, and value of your HDB could have been affected since age of property is a factor in the value of property.

Let me understand your planning better perhaps such that I can perhaps propose alternatives for your considerations?

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B) - Century 21
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Ivan Ng
Hi,

Yes its possible to purchase a resale EC and keep your hdb. However ABSD of 7% applies. 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 ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

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Robbie Chen Chee Howe
Hi Anthony,

Congrats on fully settling your HDB!

And yes, you can purchase a resale EC as it is considered a private property and you do not need to fulfill another 5-year MOP again.

As this will be your first loan, you can loan up to a maximum of 80% of the property price, subjected to TDSR.

Do take note that you are liable for Additional Buyer Stamp Duty (ABSD) of 7% of the property purchase price, should you choose not to sell off your HDB flat.

Should you need any 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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D. Kumar
Hi Mr Lee,

Yes indeed you can however the 7% ABSD will prevail.
Home purchase is a step by step purchase and given your first time background, it is apt to have yourself guided and walked step by step to ensure you do not overpay in the process of unfamiliarity and shortchange yourself on a good deal. Furthermore, there is NO agent fees involved! So you can take this opportunity to discuss more on your preferences & for me to give an entire overview and share more insights to the market, chart out the market price analysis and recent sales transaction caveats, work out comprehensive financial cash projections and provide you with up to date information to the procedural steps and its associated wings- financial (loan) , legal matters etc.

It's a weak market now and its best to leverage on it to get the best deal. The question is- how to leverage and whom to work with to ensure your interests are met! You can asses my proven track record and recent coveted awards & testimonial on my website to ascertain the commitment, dedication and integrity I uphold in representing my client's welfare to ensure I walk my talk.

D Kumar
+65 96659926
ERA Associate Division Director
www.kumarrai.com

#1 team of ERA in Singapore, Asia Pacific International for 2014.

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Nick Tan
Hi Anthony,

It is a good move as typically resale EC are priced 10-15% lower as compared with a private condo. This will result in you getting a higher rental yield for the resale EC as compared to a private condo within the same vicinity.

You will be eligible for the full 80% loan as you have paid fully for the HDB flat. However, do take note that you will need to set aside the Basic Minimum Sum before you can use the excess for purchasing of the 2nd property. You will also be subjected to the Additional Buyer Stamp Duty of 7% on top of the normal stamp duty of about 3%.

Please feel free to contact me so that I can understand your needs and objectives 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
(W) www.nick-tan.com

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“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
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