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Hi, I have a question on ABSD.
I am currently staying a 4 room HDB, and we have recently purchased a condo (under 1 person name - my wife), and paid the ABSD. With the intention to rent out the HDB.
But we are looking into the option of purchasing another private property, and sell off the HDB. Hence, the 2nd property will be under my name.
For this instance, can we get back the ABSD paid earlier on the 1st property?
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2 Answers

Hi,

Unfortunately no, you will not qualify for the eligibility condition required for ABSD refund under your wife's name. For the next property purchase under your name, to avoid the ABSD its best to sell off your HDB first before purchase.

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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Good evening,

Unfortunately, you would not be able to get any remission for the ABSD as your spouse had purchase the second property under her own name while still being the owner of the HDB unit. In order to prevent following the same foot step, it would be good to secure a buyer for your HDB unit before you commit to the purchase.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA

Looking for an experienced agent with knowledge on sales and purchase of residential property in Singapore?
With more than 10 years experience on cases related to:

1) Mental Capacity Act
2) Long Lasting Power of Attorney
3) Esate Planning and Distirbution
4) Divorce
5) Bankruptcy
6) Purchase of HDB after Retirement Age

You can be sure that your concern and doubt will be cleared. This would allow you to move forward in one of your life's most expensive and rewarding decision with ease of mind. Read More
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