2 Answers

YT Tan (陈永达)
Good morning,

Since you are considered a legal owner of the HDB, you have to remove your name from it to avoid being subject to ABSD.

But do take note that if you inherit HDB through a will, you have to decide whether to sell or keep it. If you decide to keep it, you have to sell off both your potential private property and overseas property and observe 5 years MOP before you can purchase private property in Singapore or overseas.

Hope it helps! Cheers.

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior District Manager
R043025D
ECG Property Pte Ltd
(M): +65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

1

Tan Han Wei Leonard
Good day to you Mr/Ms,

I understand you are intending to buy your first private property in Singapore while owning a HDB flat and a Malaysian property.

ABSD is payable when a Singaporean owns his/her second/third/more local property(s). ABSD on your 2nd property is 7% while ABSD on your 3rd and subsequent property is 10%.

Hence, in order not to incur ABSD, you can only be the owner of one local property.

To answer your next query, if you were to inherit the HDB flat while living in your local private property, and should you decide to keep your HDB flat, you will be require to sell both your local and Malaysian private property. Do take note that in this case, you will still need to fulfil the 5 year MOP for HDB flats.

For legal matters, please consult your lawyers.

Should you require any help with your property transactions, kindly feel free to contact me.

Best Regards,
Tan Han Wei, Leonard
ERA Realty Network Pte Ltd
Mobile : 9150 1162
Email : Leonardtanhw@gmail.com
Website : www.leonardtan-property.com Read More

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