6 Answers

Ivan Ng

Definitely resale units with less than 60 years lease will have more difficulty to sell off, as the next buyer will have restrictions on his/her bank financing + cpf monies that can be utilized.

If its your 1st matrimonial flat and your 1st property, you are only liable to pay for BSD as you will likely be able to qualify for ABSD remission.

Whether its HDB loan or bank loan, it depends on how much cash outlay you are preparing with. For HDB loan, if your CPF is sufficient, there may be cases where there's not much cash outlay involved. For Bank loan, its a minimum 5% cash amount.

Thanks and hope it clarifies. 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,
(ASk Anything Property)
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YT Tan (陈永达)
Good afternoon buyer,

Usually I wont advise my clients to purchase a resale HDB with a balance lease of less than 60 years old. Yes I do agreed that its cheap but do you know that your prospective buyer will have difficulty obtaining max loan quantum and there will be restriction on CPF usage.

This is applicable to you as of now as well.

Even though your spouse is a SPR but as this is your first property purchase in Singapore, IRAS will grant you ABSD exemption as they will treat it as your matrimonial home.

Whereas the downpayment will depend on which type of loan you are obtaining.

If you take up 90% HDB loan, you can finance your 10% downpayment with CPF OA funds in full while if you obtain 80% bank loan, your downpayment will be 5% cash and 15% CPF OA funds. So it depends whether do you have sufficient funds for the downpayment.

Bank interest rates has been lower than HDB loan rates thats why many buyers are still receptive to taking up bank loan.

Perhaps we can discuss over a cup of coffee and explore what are your options available to you after we do up a full detailed financial plan.

Hear from you soon!

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YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

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Robbie Chen Chee Howe

If you buy a flat that is below 60 years lease now, after 5 years, its lease will be much lesser, and there is a bigger challenge to sell the unit.

There is no ABSD involved, as this will be your first matrimonial home. For taking a bank loan, you will need to come out with 20% downpayment, whereas HDB loan requires you to put up 10% as downpayment.

Before you decide which to purchase, you have to work out your budget and assess from there which is the more suitable unit for you at the current moment.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305. I will be happy to assess your situation and provide you with all the possible options.

Thank you.

Best regards,
Robbie Chen
9748 6305
PropNex Realty
Gavin Ng

All being said, the first thing you should do is apply for a HLE or an IPA from the bank. This will give you an indication of the loan quantum.

We can assist you will the financial calculation.

The rest of the issues can then be addressed. You may email to gavin.ng@orangetee.com or call mobile 9620 0827.

Nick Tan
Dear Sir,

1. For matured estate, there are still a healthy demand for older resale flats due to the amenities and the convenience.

2. You will not be liable for ABSD, just normal stamp duty of about 3%. If you were to take a HDB loan, you will be able to secure up to 90% of the valuation. For a bank loan, it will be 80% of valuation. The balance 20% will consist of 5% cash and 15% CPF.

3. If you wish to purchase a HDB with less than 60 years lease, I recommend that you purchase in a central location so that you will not face issues selling in the future.

I have a 2rm nicely renovated unit for sale in TPY. You can refer to the link for more info!


Please feel free to contact me if you need further assistance!

Nick Tan
(M) +65 9644 4854
(E) nick96444854@gmail.com
(W) www.nick-tan.com

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“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
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“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
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CK Ang
Hi, below is my input.
1. Yes, proerty less than 60 years definitely more difficulty to sell due to financing restriction.
2. If you are eligible for 90% HDB loan, generally the cash required will be 5k + agent fee, CPF 10% less 5k. No ABSD, only around 3% of BSD. HDB loan will have fixed interest at 2.6% per annual.
3. You may consider HDB flat around 20 - 30 year old.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
9046 3808