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Dear sir/madam,

There is a set of regulations involved where it states when ABSD is applicable and under what scenario. The timings which the properties are bought makes a difference to whether it is applicable as well as the manner of ownership for the properties can also determine if you are able to apply on remission of the ABSD.

We can arrange for a tele-consult or video-consult session without any obligations such that you are able to have a better understanding of situation and perhaps I am able to customise a proposal on your restructuring plans moving ahead?

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Hi,

For homeowners who are selling HDB to purchase another HDB, it is understood due to HDB regulations you will be required to sell off the existing HDB within 6 months, and there will be an undertaking to sign, hence ABSD is not applicable in this scenario. HDB regulations does not permit any household to hold onto 2 HDBs at any 1 point of time, unless both are in the midst of resale process.

As for private properties purchase, if you have yet to sell the HDB, you will be required to pay the ABSD upfront first if you purchase before selling, as you are not required by law to sell away the HDB. However, if this is purchased as a joint name purchase matrimonial property, and there is a Singaporean purchaser involved, ABSD refund may still be possible if the HDB can be sold within 6 months.

Happy to share more on the process to zoom in on the optimal scenario for you guys. 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 Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

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Hi Sir/Mdm,

For HDB purchase, the ABSD is not applicable because it is compulsory to sell your current property within a 6 months period from the completion of the purchase.

If you were to purchase a condo and sell away your HDB, ABSD can be avoided as long as we plan the sale before the purchase. I have assisted many of my clients to upgrade from a HDB to a condo without the need to pay ABSD.

Please feel free to contact me so that I can give you an overview of the upgrading process and also share with you how we can plan the sale and purchase so that we can avoid ABSD, minimise the cash outlay and transit smoothly and seamlessly from one property to another.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020

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Hi,

For HDB purchases, as long as there's a Singapore Citizen that forms part of the family nucleus, there is ABSD remission, hence ABSD is not applicable.

For you to upgrade from a HDB to a condo (sell and buy) without incurring ABSD, you will need to plan the Timeline of your sale and purchase properly, such that you only exercise the OTP for the condo you purchase after HDB has grant approval for the sale of your HDB flat.

If you wish to purchase the condo first and then sell your HDB later, you will need to fork out the ABSD first, and then claim ABSD refund after you sold your HDB flat within 6 months upon the condo purchase. Do take note that the condo purchase has to be bought under both you and your spouse's names in order to qualify for ABSD refund.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require 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 in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi
I answer your question, IRAS do consider the property count at the time of purchase. If you sell your 1st property first before purchasing a second one, no ABSD on second property will be incurred. This is regardless if the property is a HDB or private. Do note that selling and purchasing refers to the date the option is exercised. If you purchase a property before selling the first one, by right 17% ABSD for Singapore citizens applies. However for married couples, IRAS do apply concessions on this. If you purchase a private property before selling off your HDB, you are liable to pay for ABSD at the point of purchased. However you can request for a refund of ABSD paid to IRAS if your HDB is sold within 6 months of the purchase of private property. A special arrangement is made for HDB purchase whereby one that purchase a second HDB before selling the first HDB will not be required to pay for the ABSD upfront. The first HDB have to be sold within 6 months from the date of purchase of the second HDB. I have assisted a few clients in transitioning smoothly from HDB to Condo without needing a temporary place of stay including accounting for the time to renovate the new place. I am specialised in both HDB and private property. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
CEA Reg No: R061607B
Marketing Director
ERA Realty Network Pte Ltd
Contact No: 93375051  Read More