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Propnex Read More

Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, if possible I would suggest leaving your name out of the picture as a foreigner like yourself would be paying as high as 60% for the ABSD.

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

Hi there,

1. We would like to purchase another property in Singapore, what would be the best option to proceed by paying the minimum in Stamp Duty?

For yourself as FR, if you are PR/citizen from the below countries, you will not be required to pay ABSD. This is a free trade agreement between our countries.
- Nationals and Permanent Residents of Iceland, Liechtenstein, Norway or Switzerland
- Nationals of the United States of America
Otherwise, using your sister name as PR for second property will be 30% ABSD compared to using your name as FR for 1st property, need to pay 60% ABSD.

2. If she or I transfer/sell our current unit to either one of us so that either one of us would be a sole owner, would she or I be liable to pay stamp duty for transferring or selling the unit to the sole owner?
Yes, need to pay Buyer stamp duty. You are required to pay BSD for documents executed for the transfer or sale and purchase of property located in Singapore.

If the current unit that you're holding onto has appreciated in value, you may consider selling to lock in the gains and look for another unit that is newer and has potential for another round of gains. To explore this option, we will need to do an financial planning so you can have a better idea. You can reach out to me directly and I can share more options with you guys! Hope this helps!

Regards,
Alvin Yap
Associate Director
Propnex
https://linktr.ee/alvin.yap Read More

Is the existing condo held under Joint Tenancy or Tenancy In Common? What is the estimated valu of this condo and what is the estimated value of the condo you intend to purchase? With these information, we will then be able to work out what are the options available if the decision is to retain the existing condo while purchasing the next.

I have been in the real estate business since 2009, with more than 14 years 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!

Warmest regards,
Geryl Lim
Associate Group Director
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
 +65 92787772 
www.geryllim.com

My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

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Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ http://l.ead.me/7772 Read More

Hi, appreciate your sharing. Depends your plan for next 5 to 10 years. Likely using PR to purchase for own stay first before considering investment.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex Read More

My Answer with regards to your Question:

Foreigners like yourself might face high Additional Buyer's Stamp Duty (ABSD), 60%.

However, if you're a PR/citizen from Iceland, Liechtenstein, Norway, Switzerland, or the USA, you're exempt from ABSD due to free trade agreements.

Otherwise, if you use your sister's name as a PR for the second property, ABSD would be 30%, compared to 60% if it's under your name as a foreigner for the first property.

Let me ASSIST further ,.....PM me : )

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