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Hi, My family is staying in condo now which full pay out. We would like to plan to invest on second condo for rent out. As the rules changes every now and then. I would like to ask what is the current suitation if I buy a million second condo at our age of 50. Please advise the detail fee and amount we need to pay. Thanks Alice
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2 Answers

Mike Lim
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Morning Alice, Since your current unit have being fully paid for, you will be eligible for 80% loan but the loan period not be more than 15 years. As you are already holding onto one property, you will also be liable for ABSD, depending if you are PR or SC. With the limited amount of information provided, it would be good if we can meet up for simple discussion. Regards Mike Lim 96929209  m52i@yahoo.com ERA Read More
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Aaron Chong
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Hi Ms Alice Firstly, you may like to consult a banker for a loan eligibility. You are able to loan up to 80% but a shorter tenure due to your age. Secondly, for a 2nd property buyer like yourself, the buyer stamp duty payable is either 10% or 13% depending on whether are you a local or a PR. Regards Aaron 9730 8455  aaronchong2774@yahoo.com.sg Read More
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