AskGuru Q&A Community

Hi,

Assuming you are SC, ABSD will be 7% on your 2nd property. Assuming you have no outstanding mortgage loans, the typical breakdown for 2nd property for SC as follows:

Cash 5%
CPF 15%
Stamp duties and legal fees Approx 10%
Max Bank Loan 80%

Working backwards, you are looking at a purchase price of around 660k, assuming 200k (cash+cpf) on hand and 80% Max Bank Loan. Otherwise, if you have outstanding housing loan, the LTV max is 50%.

At 660K, you have more options with 1bedroom new launches units. Thanks and may I have more details so to make better recommendations? Look forward to value-add to your plans.

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

Email: Ivanng10@gmail.com
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(Client's Testimonials) Read More

Good morning buyer,

I will love to assist you in your property purchase.

May I find out more information from you?

Do you have any outstanding loan for your existing property?

As you are purchasing a second residential property, kindly take note of these cooling measures:

1) only can loan up to max 50% bank loan if you still have existing loan
2) 7% additional buyer's stamp duty if you are a Singaporean
3) if you have utilised CPF in current property, you have to set aside half of minimum sum $80.5k in CPF SA + OA first before you can use the excess CPF OA funds in this purchase.

Let's assume you fulfill 80% bank loan and the CPF minimum sum, your affordability will be $667k.

Probably you can share more information with me so I will be able to come out with suggestion that can avoid paying ABSD etc.

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd

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

Hi investor,

Do you have any outstanding loan for your current property? Assuming you still do, you can also afford a unit between $600-700k, which is enough for a 1-bedder. I can introduce you to tenanted units, or uncompleted units that are going to TOP soon (with high rental potential).

Feel free to contact me at your convenience, and we can carry on from there.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More

Afternoon,

With your second property purchase, you will need to prepare payment on ABSD based on your nationality. If your current unit is still on mortgage, the likely approved loan figures will be lower which would means that you would need more cash.

Do contact me further should you require additional assistance.

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

Good day sir / madam .

Penalty such as ABSD payable for 2nd local property .

Another penalty $80500 cpf Minimum sum to be lock in , only excess cpf beyond $80500 can be used for 2nd local property .

Kindly contact me for a no-obligations chat for your property needs .

If you wish to sell your first property , My charges are 1% commission for exclusive selling rights to your property or 2% for open listing .

I am also selling foreign properties which are relatively much cheaper than local properties , added benefit NO ABSD payable too .

Joanne_chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More

Hi,

I do have an affordable development you could consider with potential upside and yield. Do contact me for a further discussion so that I can chart out your unit preferences and work out your finances ( financial progressive payment with payment breakdown timeline). To add, there is no agent fees involved and I will walk you the entire process step by step. Do visit my website for my awards and testimonials. Thanks!

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com ( Recent Awards and Testimonials)

#1 team of ERA in Singapore, Asia Pacific International for 2014/2015

2015/2016 ERA Asia-Pacific Business Conference Elite Award
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2014 ERA Asia-Pacific Business Conference Elite Award

P Group
Overall 2014/2015 ERA Top Achievers Read More

Hi
Yes in current market, many investors are taking this chance to buy a 2nd or 3rd property. If you want the cheapest quarturm in Singapore to buy, I can recommend. If you want good & high demand in rental going to TOP soon, I can find you one as well. Please kindly reach me via 91442664  for a detailed discussion.
Tricia Tan 91442664  Read More

Hi,
fyi, since you still have outstanding property loan, the next max loan quantum is 50% of the valuation. Hence, it is best to work out the loan eligibility first. My drop me an email for me to assist to compute the loan quantum.

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

Hi,

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You can consider east side freehold property or freehold commercial shop. I am be delighted to recommend if you keen :)

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