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Hi Mrs Ng Chew Yen,

If you are SC (S'pore Citizen) & your existing flat had fulfiled the MOP (Min Occupation Period), then you can purchase private condo & still retain your flat. But if you are SPR, then you have to dispose your flat within 6 months from completion of the purchase.

To buy a private condo, max loan you can get is 80%, so the upfront payment you need is the 20% deposit, 5% in cash as booking fee & the balance 15% can be by CPF. In addition, within 2 weeks from exercising the Sales & Purchase Contract, you need to pay Stamp Duty which is 3% less $5,400 plus about $3000 as legal fee (by CPF). If this is your 2nd property, you need to pay another 7% for ABSD (Additional Buyer's Stamp Duty) in Cash.

Please feel free to contact me if you need more exact & detailed financial calculation.

Thank you.

SK Wong (CEA No. : R010639B)
Associate Marketing Director
PropNex Realty Pte Ltd
HP: 81029490 
Email: skwong@propnex.com Read More

If you are buying a private condo, u do not need to give up your HDB flat if you have a singaporean family nucleus.

If you are buying an Executive condo, u will have to give up your HDB flat.

Downpayment is typically 20% of purchase price. U need to consider the stamp duty and additional stamp duty as well. If you are buying executive condo, there is no additional buyer stamp duty.

Feel free to contact me at 81824811  for a non-obligatory discussion. Thanks Read More