AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
Hi, I have a 4 room HDB flat which have the below info:
1) Date of application - 15 Feb 2006
2) Date of purchase - 19 Oct 2009

My issue is that i want to hold on to my HDB flat and looking for a Condo (NO EC)to stay in and rented my HDB out.

1st Que: Am i eligiable to be in this status, owning a HDB and a Condo?

2nd Que: if base on my HDB loan is clear and i have fully paid the HDB flat, what is the minimum i need to paid for buying a condo (NO EC) base on the recent cooling measure impose by gov?

3rs Que: if im not wrong, i cannot buy any condo yet as i have not stay at my flat till 5 years. (Next year 2014 is 5 years)correct to say that? cause i do not want to waste my time to go visit any show room since im not qualify...
0 •
718 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

2 Answers

YT Tan (陈永达)
Replied
Afternoon Roy,

You have to first fulfill the 5 years MOP before you can purchase a private condo and rent out your HDB.

Roy if you are a PR, you are allowed to purchase a private condo but you have to dispose off your HDB within 6 months from completion. You will be subject to 10% additional buyer's stamp duty and will get back 5% refund after sale of HDB. If you are a Singaporean, you can purchase with an ABSD of 7% imposed on second property.

As for your loan, you can take up to 80% loan if your HDB loan is fully paid by the time you purchase a private condo. 20% downpayment consists of 5% cash and 15% CPF (shortfall will be in cash). If loan tenure exceeds retirement age of 65 years old, it will be 40% downpayment.

Hope it helps!

Let's keep in close contact and i will assist you when you are eligible to do so.

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/
ECG Property Pte Ltd Read More
0
Upvote Upvoted
Andrew Se
Replied
Hi, Please SMS 81986284  or email isingaporeproperties@gmail.com, our teammates would be able to help you. Thanks
We provide detailed report also. Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions