Good afternoon, First of all, to be eligible to purchase a private property in Singapore, you must first fulfill the minimum occupation period for your flat. Have you done so? If you do, the purchaser/ household must consists of 1 Singapore citizen to hold on to their HDB if they purchase a private property. If the household consists of SPRs, they must sell off their HDB within 6 months from private property completion date. Secondly, is your HDB fully paid or still outstanding? If its fully paid, you will be eligible to take up 80% bank loan. 20% downpayment in 5% cash/ 15% CPF or cash if shortfall ($200k). If there's still outstanding loan, you will only be eligible to obtain 50% loan. 50% downpayment will be 25% cash/ 25% CPF or cash if shortfall ($500k). Do take note that you have to keep a minimum sum of $74k in your respective CPF OA + SA account before you can use the excess for purchase of 2nd property. And also, additional buyer's stamp duty will be payable. If both of you are SCs, it will be 7%. If both of you are SC/ SPR, it will be 10%. I hope my explanation is very useful to your decision making. If you need any assistance or clarifications in your property purchase, feel free to contact me. Cheers! Warmest Regards, YT TAN 陈永达 | ACCA Graduate, RES Senior District Manager R043025D ECG Property Pte Ltd (A Wholly Owned Subsidiary of ECG Group of Companies) Estate Agent no. L3009759F Blk 190 Lorong 6 Toa Payoh #05-508 S (310190) (M):
+65 9111 5171
(E): yt.lovelyhomes@gmail.com (W): www.yttan.com (W): yttan.stproperty.com.sg/ (W) www.lovelyhomes.com.sg (W) www.ecgproperty.com
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