5 Answers

Hi,

Without going into detail of calculation, the obvious choice is to sell off the HDB flat if you does not need it for shelter.

The reasons are obvious:
(1) BTO flats that supplied from the past few years (started from 2014) will takes another few more years to absorb.
2014 = 25k
2015 = 25k
2016 = 18k
2017 = 18k
2018 = announced by MND is 20k~22k
Compare to the period where HDB capital can appreciated is averaging of 5k. (2004~2009)

(2) Your current flat will reach remaining lease of 60 yrs in the next few yrs, which is another major factor to drive the resale value down further. Competiting with all newly MOP flats built.

(3) ABSD 7% of $1.27M = $88.9k.
You need around 5 years of rental to get back this amount. Thus it is only break-even with capital gain reducing, you are not in a winning state.

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

Note:
Any response to our answer do not reach us until we scroll through each and every queries posted daily.
The best way to get a follow up is to whatsapp or email us directly. Read More
0
Dear sir/madam,

To break down in financial figures for your case is quite straightforward, as Ling has already pointed out, it will take close to 5 years to recoup back the amount of ABSD paid for your condominium purchase. Should value of your HDB stay constant, it probably still make some sense to retain since you are able to recoup this amount in years to come, however, value of an aging property decreases with each passing year.

Barring aside sentimental reasons for keeping the HDB, I seriously do not see any financial benefit to keep the HDB. In addition, do take note on the ABSD remission eligibility in your case as not all cases are eligible for ABSD remission.

I reckon for maximised rental returns, you could perhaps look into selling the HDB, and purchase a smaller 1 bedder unit for rental income to reduce the amount of ABSD payable.

We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value.

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

Thank you for your support in 2016 for the Top Producers Award - https://bit.ly/No1Team

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/

Pick up knowledge, skills and Real Estate concepts at https://www.facebook.com/RealEstateXcellence/

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

Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B) - Century 21
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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! Read More
0
Hi,

For ABSD refund approval there are some eligibility conditions to fulfil, such as both properties under joint ownership and being the matrimonial property, otherwise it is not as straightforward and may not get approval. There must also be 1 SC owner. Have you placed the option fee for the resale property?

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 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials)

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --

Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship.

Our unit comes with its challenges but Ivan remained positive and had no qualms committing to our plans right from the start. It took only 6 weeks of aggressive marketing for him to secure a good offer which was a pleasant surprise in the end.

Ivan was always responsive and we had no worries to pass him the house keys. The whole process was transparent and hassle free, and he was always thinking from our point of view on how to make life easier for the client. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.

--- HDB Flat Upgraders Mr. & Mrs. Lee ---

We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.

He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.

When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.

Thanks Ivan! :)

-- HDB 5-rm Sellers Mr. & Mrs. Ting --

We have engaged the services of Ivan Ng for sale of our property at Pandan Gardens. He is professional and systematic in his marketing approach.

He is hardworking and committed to his work. He puts in great efforts in arranging clients for viewings and kept us updated thereafter. He is ever ready to help and guide us whenever the need arises.

He provided us with sound and useful advice as well as closely follow through from the start till the smooth sale of the property within a short period of time.

Thanks, Ivan. Keep up the good work! Read More
0
Robbie Chen Chee Howe
Hi,

I am actually now handling a similar case to yours, with a SC/PR family committing to a condo purchase and paying 10% ABSD. The couple are now in the midst of selling off their HDB, and plan to get the ABSD refund.

DO NOT exercise your OTP until you hear me out! Let me share with you why they seek my advice and decide that this is the best way forward for them.

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
0
Whatsapp to 8279 8327 

Our charges are 1% commission for sales ..

Owners / landlords need property agent in sg ( agt ) to rent out or sale of your property
please contact handphone whatspp text to 8279 8327 

Xu zhen feng
R05-7810C / L300-9250K
Orangetee & Tie Pte Ltd
8279 - 8327

Or you have more questions such as ?
Sg buying / selling house ?
Singapore Rentals property ? Read More
0