Hi Mr Imran,
To purchase a second residential property, you would have to fulfill your 5 years MOP. You will be liable for 7% ABSD, and since your resale unit is not full paid up, you would be granted 50% loan instead of 80% loan.
It is always wise to diversify your assets, to reap a passive income in view of the weak market sentiments and thus, your post comes at a timely manner.
There are 2 options (Kingsford Waterbay and Santorini) in my mind that you could consider, both of which with immense capital potential appreciation and rental attributes. I recently concluded a 1BR high floor unit transaction at Waterbay for my client at starbuy which is unmatched island in terms of pricing. Do get in touch so that I can run you through the entire procedural framework and guide you step by step; from the technical to admin and legal front coordination. To add, there is NO agent fees involved and I will work very closely with you on your purchase. Thanks!
D Kumar
+65 96659926
ERA Associate Division Director
www.kumarrai.com ( Recent Awards and Testimonials)
#1 team of ERA in Singapore, Asia Pacific International for 2014.
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