As your household has at least 1 Singaporean and you have fulfilled the minimum occupation period, you can hold on to existing HDB and purchase a private property under your name. The applicable ABSD is 7%.
Other cooling measures to take note:
If you have utilised your CPF OA funds in current HDB, you have to set aside basic retirement sum $80.5k in CPF OA + SA first before you can use the excess CPF OA funds in this purchase.
Hope my explanation helps!
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YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480
(M): +65 9111 5171
No.1 team in Propnex Read More
Yes its possible to buy a 2nd property, and if the SC name is used, the ABSD of 7% will be payable. May I understand your plans further so to make better recommendations? Thanks and look forward to value-add to your housing plans.
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Contact: (+65) 97432395
Facebook Page: www.facebook.com/ASAProp
(Client's Testimonials) Read More
If you buy it under your name, the ABSD will be 7%, however if your wife purchase under her name, the ABSD will be 10%. The ABSD is on top of the normal stamp duty of about 3%.
If both of you were to purchase, then the higher stamp duty of 10% will apply. With 2 purchaser, you will be able to secure a larger loan and higher leverage.
May I know do you intend to stay in your current HDB and rent the condo out or stay in the condo and rent out the HDB? Please feel free to share with me more information so that I can assist you further!
(M) +65 9644 4854
Testimonial from Satisfied Clients (2015/2016)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)
“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)
“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)
“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More