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Additional Buyer's Stamp Duty (ABSD) is applicable in your scenario.

If your spouse's name is included as a co-owner for the private condo, ABSD applicable will be 15%. If not, the ABSD applicable is 7%.

This is on top of the 3% normal buyer's stamp duty applicable. As it will be your 2nd residential property, there will also be limitations to the amount of CPF usable if you have not met the minimum sum.

Please work out closely with a banker to look into the finances of the purchase to ensure that you are comfortable to proceed in the purchase financially.

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Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B) - Century 21
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HI,
Yes, there is 7% ABSD for the 2nd property. Please drop me an email for me to share with you an option.

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,

If you choose to keep your name in the HDB, and purchase the condo with your spouse, an ABSD of 15% is applicable as she is of foreigner status. If you purchase the condo on your own name, the ABSD is 7% instead. This is on top of the usual 3% approx BSD (Buyer stamp duties) that you have to pay. It might be prudent to plan the finances before taking the next step, which I will be glad to value-add and assist.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

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,

You have a few options to explore as described by my fellow colleagues here. Feel free to contact me for a non-obligation detailed discussion as well as some calculations for the different options.

Hope to hear from you soon:)

Rayne Chua
 92366794 
CEA Reg No. R058058B
Propnex Realty Pte Ltd
www.raynechua.com
www.facebook.com/propertysgrayne Read More

Good morning,

As you co-own the HDB with your mum, you will need to know if you have fulfilled the MOP requirements. Once that is cleared, you will be eligible to purchase your second property with your spouse. ABSD will be payable at 15% if you were to add your spouse into the purchase. If you have utilized your name on the mortgage for the HDB and paying with your CPF fund, you will only be granted max of 50% loan. You will also need to set aside the CPF minimum sum before you are eligible to utilize the balance for the next unit.

Do feel free to contact me should you require additional assistance.

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