1 Answer

Dear Jimmy,

We had a late night discussion with one of the banker last night to understand more about the MAS ruling effective on Saturday. You will need to get your dad to work with the banker to find out on the TDSR based on his income to determine if his name is required as a co-owner of the unit or not. If it is required, then the ABSD applicable will be that of a foreigner. Should it be such a case, perhaps it would make sense to check if it is a better option of only have your father's name solely in this property such that your name is freed up for any prospective property purchase in future when your income level improves.

Regards,

Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com
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