Hi James,
Our reply to your queries below:
Qn1 : if we buy EC now, can we still buy private property in SG or Malaysia in next 5 years?
Ans1: You may buy a private property in Singapore or Malaysia 5 yrs from key collection / TOP.
Qn2: We currently own a resale HDB, do we have to pay 7% property tax as a first timer?
Ans1: I believe the property tax you are referring to is the Additional Buyers Stamp Duty (ABSD). No, you do not have to pay the ABSD of 7% to purchase a new EC as ECs are not affected by ABSD ruling and furthermore, you would have to sign a form to consent to the sale of your present HDB prior to taking possession of your new EC upon TOP.
Thank you
Discuss your EC purchase options with the friendly people who know ECs best.
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