Are you currently staying in your HDB or the landed? If you sell of the landed and purchase a new landed you will be liable for Additional Buyer Stamp Duty. However if you sell of the HDB and use your wife's name to purchase the landed, you will not be liable for the ABSD.
If you do not wish to sell of the HDB and yet want to purchase another new landed without any ABSD, it can be done too. Let me know so that we can discuss further.
There isn't pretty much any rules & regulations on selling except to when it was being purchased so that there isn't any seller stamp duty.
Hope to value add to your selling and purchase.
PropNex Realty Pte Ltd
Associate Team Director
Yes its possible to sell in the open market or to developer. You will be liable for ABSD when you purchase the next property. The best way to structure it depends on who's taking the loan and ownership profile. Thanks and may I have more details so to value-add to your plans? Let's discuss further.
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
It's perfectly fine to sell your landed in the resale market or developer if your land is reasonably priced for them to redevelop.
Btw do take note that you will be subject to 7% ABSD as SC for your second property purchase (if you still have HDB but existing landed has been sold).
There are some ways to tackle it. You can choose to decouple your HDB with you as occupier so the purchase of landed (terrace or semi D) will be considered as your first property purchase (no ABSD).
But by doing this, your wife must be financially capable to return those funds you had utilised in the HDB.
Probably you can share more with me so I will be in a better position to advise and assist you further.
Hope to hear from you soon!
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727
(M): +65 9111 5171
I would assume that you have already met your MOP for your HDB in order for you to be owning 2 properties concurrently. You will be eligible to sell your existing landed home and purchase another landed home, however, do take note that if you do not intend to sell your HDB, you will then be subjected to Additional Buyer's Stamp Duty as your purchase is considered your 2nd property, on top of the normal 3% stamp duty for all properties purchases.
Typically for resale property, I would advise only for owners on pricing matters since selling to developer or end consumer will still result in the same proceeds for the seller, and it is unlikely that a developer will pay a premium for the purchase given that the profit margin is the main consideration for every project, unless if you wish to make a special arrangement to purchase back the property from the developer after redevelopment, which makes no sense.
If you are looking to move into a new landed home, how about redeveloping your existing landed home instead since you will not incur ABSD as well as commission and legal fees for the sale and purchase?
I dare not say that I have alot of experience dealing with landed homes, but I am dealing primarily with the sales and purchase of landed homes (brand new or resale) for the past few years to know a thing or more. If you wish to discuss this further, it could be beneficial to speak to you in person and perhaps can share more insights on current landed homes transaction trend, landed homes buyers behavior and preferences to help you in your decision making process.
Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/
New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/
My self introductory video on https://youtu.be/6UfrCOCB6Mg
Associate Marketing Director
Global Alliance Property (L3010679B)
CEA Reg R014783H
G.A Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now!