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Hi Mdm Ang,

You've got all the facts correct except for the first:

(1) You and your spouse name has to be registered as joint owner for the new EC.
And No, you don't have to pay any ABSD. You are entitled to ABSD remission, do remember to ask for the form to fill for this remission when you buy the new EC.

(2) You are allowed to buy another condo after meeting the EC MOP.

Pls forgive that it is too sensitive to answer the rest of the questions concern.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

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Hi Mdm Ang,

Are you referring to new EC or resale EC? If new EC, both your names have to be added as owners, and both have to observe 5 year MOP after moving in.

If resale EC, yes you can use 1 sole name to purchase if the finances are comfortable. For SPR first residential purchase, ABSD of 5% is payable.

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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Thanks, Ivan. Keep up the good work! Read More

Hi Mdm Ang

If you would want to address your question to gavin.ng@orangtee.com, we will answer them accordingly.

Regards

Gavin Ng Read More

Hi Mdm Ang,
Thanks for your query!
To clarify-
For the purchase of a brand new EC :
You and your spouse name has to be registered as joint owner and will not have to pay any ABSD. Additionally, you are allowed to buy another condo after meeting the EC MOP after 5 years.

The sales and purchase of such transactions are highly complex and requires a thorough financial calculations to ensure smooth sales transition. Perhaps you can contact me at 96659926  for a short discussion for me to run you through the overview of the purchase framework, understand your requirements and specifications as well as calculate your finances on hand (Cash/CPF amalgamation) to construct a financial plan with payment timeline to narrow down ideal developments and shortlist exact unit layout type for your perusal. I have actively transacted many EC private properties (testimonials available on website) and since you may be unfamiliar with the process, you might want to tap onto advise and guidance in this regards, at no obligation of course. I will walk you through the entire process from selecting developments/ arranging viewings, handling bank/finance aspect, arrange for your legal processing matters as well as handle all paperwork at no cost. The purchase of private property does not involve agent fees and thus, you will enjoy expertise at every level at no obligation and cost. Furthermore, I will take the opportunity to run you through past and present transaction caveat & illustrate a pricing and customised sales report with projected returns/ capital gains for you to observe and understand, offering market insights for your consideration. I will usually share about the property outlook with my clients and tailor make a plan that suits best for them in years to come. Thank You!

Visit my website for my recent accolades, awards and testimonials@ www.kumarrai.com.

D Kumar
 +65 96659926 
ERA Associate Division Director

#1 team of ERA in Singapore, Asia Pacific International for 2014/5/6/7

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P Group
Overall Top 100 achievers 2014-2016 Read More

Good evening Mdm Ang,

If your husband were to purchase the resale EC under his name, 5% ABSD would be payable. But if it were to be under your name only or joint tenancy as matrimonial unit, ABSZd is not payable.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA

Looking for someone who have knowledge and experience on sales and purchase of residential properties?
With more than 10 years experience on standard sales and purchase cases, I do also handle cases that is related to:

1) Mental Capacity Act
2) Long Lasting Power of Attorney
3) Estate Planning and Distribution
4) Divorce
5) Bankruptcy

Put your doubts aside before moving forward in life’s most rewarding decision with ease of mind as you are in good hands Read More

Hi Mdm Ang,

For a SPR, buying the first property attracts an Additional Buyer Stamp Duty (ABSD) of 5% on top of the normal stamp duty of about 3%. A 2nd property will attract an ABSD of 10% on top of the normal Stamp Duty. For a Singapore, there is no ABSD for 1st property, but for a 2nd property, it is an ABSD of 7% on top of the normal stamp duty.

For your case, if it is a new EC, you will be required to sell your HDB and also a resale levy may be liable. Both you and your hubby will need to be owners and after 5 years it will be financially logical to use your name to buy a 2nd property as the stamp duty is lower at 7% + 3% as compared to 10% + 3% that your hubby will need to pay.

If it's a resale EC, I would suggest that you can purchase it under your name and your hubby can proceed to purchase another property immediately and pay the ABSD of 5%. In this case, both of you will have 2 properties immediately, one for stay and another to generate rental.

Please feel free to contact me so that I can understand your objectives better and provide you with further assistance!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
https://www.cea.gov.sg/docs/default-source/module/newsletter/3-2017/bouquets-for-property-agents.html

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Mr and Mrs Chan (Sold and Bought a property through Nick) Read More

Hi Mdm Ang,

I have handled several cases like yours, and if you're looking to maximize savings, I have just the right solution for you. Do contact me for further discussion.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More