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Good morning Chee Whee,

You can set your ownership as tenancy in common for your BTO but do take note HDB is unlike private property, you will not be able to do decoupling (sell your 1% to your wife).

Since you cant decouple and want to buy a private based on current rules, you need to pay 17% absd based on purchase price as your second residential property ownership.

If you wish to enjoy tax savings if purchase a private in future, you can consider to buy BTO under 1 owner 1 essential occupier. Do take note loan assessment will be based on sole owner and only his CPF OA funds can be used on BTO.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
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Hi Chee Whee,

Unlike private residential properties where you can sell your 1% share to your other partner before you purchase another private residential property in order to avoid the ABSD applicable, this arrangement cannot happen in HDB outright therefore it will not make sense on the split unless there is some private arrangement between you and your spouse on the ownership arrangement.

Full ABSD will still be applicable when you purchase a private residential property as your 2nd property if you decide to retain this HDB, therefore instead of 99/1 arrangement, you should consider sole ownership for your BTO if finances allow, with the other partner as an essential occupier. Do note that financing of the BTO flat can only be done via cash for the essential occupier as he or she will not be considered for housing loan and CPF funds cannot be utilised.

Hope the above helps!

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