Asked by Anonymous
I am a 43 single Singaporean who purchased my 1st private property at age 41. It is a 1 bed room condo at North-East of Singapore TOP 2024 at 613K approx 10mins walk from MRT. I am currently staying with my parents in a private property (under their names). I would like to move out and stay on my own in a HDB as I can only afford HDB. My monthly salary is approx S$4K. However since I already have a private property under my name, I cannot purchase HDB unless I sell my private property. I would also like to keep my private propery as I purchase it at a good entry price & would like to generate income as I grow older & retire. My questions are:
1) Can I transfer the private property to one of my parent's name so I can purchase a HDB? Once I have the HDB, can it be transferred back to my name? I understand they may be ABSD. What other costs are involved?
2) If I have to sell my private property, when is the BEST time to sell to achieve the most capital gains?
1) Can I transfer the private property to one of my parent's name so I can purchase a HDB? Once I have the HDB, can it be transferred back to my name? I understand they may be ABSD. What other costs are involved?
2) If I have to sell my private property, when is the BEST time to sell to achieve the most capital gains?
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