ABSD only applies for Singapore residential property, hence commercial property (without any residential component) does not count towards ABSD property count.
However any loan liability that is under your name will affect your TDSR. 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.
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Thank you for your query. We are Annie and Joel from OrangeTee, and with us you have twice the support than engaging someone else.
We look forward to hearing for you in order to better plan the timelines for purchasing your unit. ABSD count only applies for redidential property, hence the commercial property will affecr your stamp duty rate.
As for TDSR, it depends on whether your commercial property is bougbt under personal or company name. Yes the commercial propertu loan might negatively impact your loan quantum for your condo unit. However there might be work around for this issue. Let's discuss this further on the phone or when we meet up.
As we are not able to contact you, we look forward to your call or Whatsapp, in order for us to better assist you.
Thank you very much and look forward to hearing from you!
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Your commercial property does not contribute as a property count as only residential property will contribute to the ABSD property count. Therefore you will not be liable for ABSD.
However, your current loan will contribute to the total debt servicing ratio framework and affect your eligible loan for your next property.
Please feel free to contact me so that I can assist you to determine your loan eligibility and assist you further.
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If your commercial property is full commercial title, then you will not be liable for ABSD if you purchase a condo. Should your commercial property has residential component in it, then you will be liable for ABSD.
Your loan for the condo purchase will be subjected to TDSR requirements. This framework is introduced to exercise financial prudence for all property purchases.
I am experienced and well-versed in private transactions. I will be able to assist you in your home purchase. 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.
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ABSD will not be applicable if there is no residential component within the existing commercial property that you own (e.g. shophouse where 2nd floor is residential quarter). As for the TDSR assessment, is your existing commercial property loan under private loan or under company name? It is best to speak to a qualified banker to work out the numbers before taking further steps in your plans. You may also wish to take this opportunity to evaluate the performance of your current commercial property should it be used to collect rental as investment.
I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.
I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.
Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my clients’ portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.
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