AskGuru Q&A Community

Hi,

Yes as long as you have meet the MOP of 5 years, and theres an SC in the household, you can purchase a 2nd property. You can use your CPF for 2nd property as well. But do note if you have an outstanding loan currently, your next loan will be max 50% and there will also be 7% ABSD for the next property.

Thanks and hope to assist with your plans further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
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(Client's Testimonials) Read More

Hi,
Both of you are eligible to purchase a private condo as 2nd property as long you had meet the MOP. Can use CPF for the payment. Fyi, 7% ABSD will be payable as this will be the 2nd property.
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 
res.ckang@gmail.com Read More

Evening,

If both of you have inherited the current unit from your parents and they have bought it directly from HDB, it would be considered that both of you have gotten a subsidized unit. Upon fulfilling MoP, both of you are eligible to purchase private property.

Do contact me further should you require my services.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Good evening buyer,

As long as your household has at least one Singaporean and you have fulfilled your minimum occupation period, you are eligible to purchase a condo and keep the HDB.

If you dont have any oustanding loan, you can take up to 80% bank loan for your purchase. If you have utilise any CPF OA funds in this inherited unit, you have to set aside half of CPF minimum sum ($80.5k) in your SA + OA before you can use the excess in your OA.

Lastly, as this will be your second property. You will be subject to at least 7% additional buyer's stamp duty.

Hope my explanation helps!

If you need further assistance or advice in your property purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More

Hi

From the information you have given, you should be able to purchase a private property.

The only concerns you need to address is as below

1) ABSD
2) How to get 80% loan financing
3) Which private property to go for which suits your needs
4) Financial planning on cashflow after purchase

I hope you can call me before making a decision because myself is well-versed in the options available which could help you save on ABSD and also help on getting a 80% loan.

Looking forward to hear from you.

Cheers

Lim Kah Seng
HP 8-3333-222
email: kahseng.sg@gmail.com

Associate Team Director
Propnex Realty Pte Ltd Read More

Hi as long as MOP is over. You are able to purchase a 2nd property. But it will be subject to ABSD.
Feel free to contact me via 91442664  for a detailed discussion.
Tricia Tan 91442664  Read More

Hi Mdm,

For your situation, your current flat will be counted as your first residential property. If you were to purchase another property, you will be subjected to the Additional Buyer Stamp Duty (ABSD) of 7% on top of the normal stamp duty of about 3% approx.

If the current house is fully paid, you will be eligible for a max loan of 80% for your next purchase. You will be able to utilize your CPF for your condo purchase but you will need to set aside half of the prevailing sum amount and can only use the excess amount in your OA account.

Please feel free to contact me at 9644 4854  if you need any clarifications.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nicktan@propertyavenue.com.sg
(W) www.nick-tan.com / www.propertyavenue.com.sg

Testimonial from Satisfied Clients (2015)

“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.

We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“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.”
Ms Chia (Buyer of HDB)

“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 of HDB)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

Mr and Mrs Chan (Sold and Bought through Nick) Read More

Hi,

Re: Our Preferred Experienced SG Realtor

You can keep the HDB upon fulfill MOP of 5 years. You can then purchase a private property at your preferences.

Call us now, we can explore further in detail.

We are contactable at 92222389  or onassis@sgrealtor.com.

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

Onassis Gan | R021244C | CES Certified SG Realtor l SGRealtor.com
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