9 Answers

askguru expert
Hi Edwin, thanks for writing to us on AskGuru.

All SPR owners and essential occupiers must have SPR status for 3 years before they can buy a resale flat.

As to wether, you will need to pay the ABSD of 15%, IRAS will take into consideration the date of execution of the acceptance to the option to purchase or the date of Sale & Purchase Agreement. For more information, please refer to IRAS's link here: https://www.iras.gov.sg/IRASHome/Other-Taxes/Stamp-Duty-for-Property/Working-out-your-Stamp-Duty/Buying-or-Acquiring-Property/What-is-the-Duty-that-I-Need-to-Pay-as-a-Buyer-or-Transferee-of-Residential-Property/Additional-Buyer-s-Stamp-Duty--ABSD-/

Hope this answers your question.

Best Regards,

Team PropertyGuru Read More

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Geryl Lim
Hi Edwin,

A quick check, are both you and your wife SPR for minimum 3 years? In the event that you sell your condo before committing to the purchase of the resale HDB, the ABSD applicable will be based on the first residential property rate at 5%, on top of the normal buyer's stamp duty.

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

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Geryl Lim
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Ivan Ng
Hi Edwin,

Will suggest to sell off the condo first, so when you purchase the resale HDB, it will be considered as the first residential property and only ABSD of 5% applies. IRAS consider exercise date of the OTP as the date you have disposed the property, hence the timeline can be planned and worked out nicely. Do note that for SPR couple, both must have attained SPR status for at least 3 years each.

I have worked on similar cases and would be happy to share the best approach for transition. 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 Realtor
ERA Senior Marketing Director
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0

D. Kumar
Hi Edwin,

As a rule of thumb, you may want to explore selling off your condo first for your resale to be considered your first residential property. Pls do contact me for a detailed discussion. I have good insights to the market outlook and comprehensive transaction caveats in that district. I additionally, do manage assets and create wealth diversification via investment portfolios for my clients and the preliminary step begins with a succinct sales report which I will generate for your perusal to view in your free time (% gain, rental yield, rentability report etc), prior to the selling.
Do visit my website for my accolades and testimonials. Thank you and take care ! www.kumarrai.com.

D Kumar
+65 96659926
ERA Associate Division Director

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0

Robbie Chen Chee Howe
Hi Sir,

If both you and your wife are SPR for at least 3 years, then you will be eligible to purchase a resale HDB flat. ABSD would be 5% for SPR's first property, and not the 15% that you mentioned.

I am experienced and well-versed in both HDB resale and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More

0

Nick Tan
Hi Edwin,

For your case, the ABSD is only 5% because one of the conditions to own a resale HDB is that you will need to sell off your condo.

It is important to plan the sale and purchase carefully so that you will be able to minimize the cash outlay and not need to find an interim place to stay during the transition phase.

I have assisted a lot of my clients who are in a similar situation as yourself to transit successfully and seamlessly. Please feel free to contact me so that I can understand your situation better and draw up a transition plan for you.

Regards,
Nick Tan
(M) +65 9644 4854
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

Visit my website to get to know me better:
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“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
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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.”
Susana (Buyer) Read More

0

Aaron Chong
Hi Edwin, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead. In your case, your stamp duty payable for purchasing a resale HDB will be at 8% as that would be considered the 1st property as a PR.

Regards
Aaron Chong
9730 8455
aaronchong2774@yahoo.com.sg Read More

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Silvia Yang
Hi Edwin

To be eligible to purchase a resale HDB flat, both you and your wife need to be SPR for at least 3 years and ABSD will be like 1st property as you need to sell your Condo if you buy Resale HDB
I will need more information to be able to advise you better
I will be glad to assist finding the right buyer as well
I am currently serving Indonesian investors who are looking to buy Condo, hopefully can match with your unit

I won't be able to contact you first as I do not have your contact, appreciate if you can contact me at (65) 96608508 or Silviayang8@gmail.com with details of your unit
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang (Silvia Yogisaputra)

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508
Email: Silviayang8@gmail.com Read More

0

Taufik Hussein
Hi Sir
If you and your wife met the 3 year SPR requirement to own a HDB resale, you are only liable for 5% ADSD. In case you bought a HDB before you sell your condominium, IRAS will apply an automatic waiver of 15% ABSD and you are only liable for 5% ABSD instead. However you are required to sell your condo within 6 months of aquiring your resale HDB as HDB does not allow PRs to own both HDB and private property at the same time. Do conatct me at 93375051 for a free and non obligatory discussions on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More

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