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Dear Tung,

You are right that since your wife has not fulfilled the 3 year PR requirements, you will not be eligible to purchase a resale HDB. You can consider the private condo and apartment as well as EC that has already met their MOP, which is the 5 years EC that you are referring to. As SPR, you will be subjected to Additional Buyer's Stamp Duty of 5% on top of the normal buyer stamp duty rates. After purchasing, you are eligible to sell at anytime, however, Seller's Stamp Duty will be applicable if you sell within 3 years from your purchase.

My team and I can work closely with you step by step in this asset progression plan where we can guide you through the necessary processes and answer any doubts you may have.

Do get in touch with us at your soonest convenience for discussion.

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Good morning Tung,

Yes you are eligible to purchase resale EC (executive condominium that has reached the 5 years occupation period/occupied by 1st owner for 5 years) or private condo as an SPR. There will be a higher buyer stamp duty amount (5% more ABSD) versus citizens for your 1st residential purchase. You need not stay another 5 years before you can sell, however to avoid seller's stamp duty you need to own the property for more than 3 years.

Hope the above clarifies. May I have more info and requirements about your plans so as 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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Hi Tung,

Don't worry, no question is considered as dumb or not relevant. All questions are valid and welcome. :-))

1) You are eligible to purchase all resale EC (except that development has not met MOP) and new and resale condos.
2) The only additional cost compared with SC and SPR is the 5% ABSD.
3) 5 yrs EC means EC that had met their MOP (Minimum Occupation Period) determine by the HDB. The HDB will verify the buyers' residential status and eligibility to permit the transaction for buying EC that had not met MOP.
4) Those EC that had met 5yrs MOP and condo bought has no restriction on when to sell legally. The only concern that most people have is the SSD (Seller Stamp Duty) that was implemented during a cooling measure in 2013.
5) The current SSD is 3 yrs applicable to all residential property from purchase, 1st yr 12%, 2nd yr 8%, and 3rd yr 4% of the selling price.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Hi
No worries as I understand the regulations for owning a property in Singapore is quite complex in nature. The answer to your question:
1) You are not allowed to purchase new EC. However you may purchase resale EC, resale condo or new condo.
2) Hi the buyer stamp duty that applis to all buyers is as follow:
First $180k - 1 %
Next 180k - 2%
Next $640k- 3%
The rest -4%
However for PR, besides the normal buyer stamp duty rates, additional 5% ABSD applies. All stamp duties typically can be paid by CPF if there is sufficient funds in your OA. However you have to financed in in cash first, then claim a refund later from IRAS later on.
3) 5 years EC is when the EC has met its 5 years MOP and owners are allowed to sell it to SC/PR. This means you are eligible to purchased it. Once purchased you can sell it at anytime (selling below 3 years ownership will attract another tax called 'seller stamp duty') to a Singaporean or SPR buyer. In order to sell it to foreigner, you have to wait till the development is 10 years from its TOP date.
4. I have answered it in point 3.
Hope this clarifies. My service for purchasing of private property is 100% free. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
Marketing Director
ERA Realty Network Pte Ltd
CEA Reg No: R061607B
Contact No: 93375051  Read More

Hi Lee Tung,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, in your case both you and your wife are only eligible to purchase a resale EC or a private condo. And resale EC means those EC that has hit the MOP where the seller has occupied their unit for 5 years already and they are allowed to sell.

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

Hi Tung,

Yes, you're right that you're not eligible to purchase a HDB flat.

As for resale EC and private condo, you may wish to purchase under your sole name to save on ABSD. If you include your foreign spouse in the purchase, the amount in ABSD is quite massive.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

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