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Hi,

Unfortunately you can't purchase a 2nd residential property since your MOP of 5 years is not met. It doesn't matter whether you are essential occupier or owner, both of you must meet the MOP of 5 years before you can purchase. Thanks and hope it clariifies. Hope to have the opportunity to work with you in the future.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
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Good evening buyer,

I am afraid to inform you that you are not eligible to purchase a private property now as you are restricted by the 5 years minimum occupation period. Yes even you are an essential occupier.

Once you fulfill the MOP, you are eligible to keep the HDB and purchase a private property because you have a Singaporean in your household.

Both of you can use CPF OA funds to finance the purchase as long as both of you are the owners.

Btw do take note of these cooling measures that might be applicable in 3.5 years time:

1) you will be subject to 10% additional buyer's stamp duty (higher of 10% as SPR and 7% as SC)
2) Since you have utilised CPF in your current HDB, you have to set aside half of minimum sum $80.5k in your CPF OA + SA first before you can use the excess OA funds in this purchase.

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Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

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Evening,

Both of you had purchase the HDB unit under Public scheme but you opt to have your wife to be the owner while you stay as the essential occupier. Given so, both of you are required to fulfill the MOP before you are eligible to purchase your second property.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi,

Re: The best deals available through SG Professional- BuyRealtor.com & NewLaunchDeal.com

MOP 5 years is a must to wait before you can purchase any local property which applicable to overseas property too.

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