7 Answers

Ivan Ng
Hi Mr. Ang,

It would be ideal to plan your financial and timelines such that when you purchase the landed, its considered your 1st property and you are not liable for ABSD. That will involve an earlier disposal of the condo. In current subdued market it is also better to secure a buyer first before making the next move as it will take some time. Thanks and may I understand your plans further 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.
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Mark Ng S W
Hi Bernard, the condo would need to be sold first for landed to be counted as 1st property. Do let me know if you require assistance on your property needs.

Mark, your RIGHT choice
Shenton Realty Homes
+6597970200 Read More

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Joanne Chia 谢诗琳
Good day Mr Bernard Ang

To sell condo before buying landed or to do both concurrently will depend on :

1. Is your condo fully paid or still on loan .

2. Do you qualify to claim back the ABSD payable , for example , if you and wife a sporean couple household buying your landed property as matrimonial home together .

3. How much cash / cpf you have on hand .

4. How much do you qualify to loan .

Kindly contact me for a no-obligations chat and enquiries for your property needs .

My charges are 1% commission for exclusive selling rights to your condo or 2% for open listing .

Joanne_chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327 Read More

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Geryl Lim
Hi Mr Ang,

If you exercise your OTP for your purchase before your buyer for the condo exercises the OTP to buy your condo, it will be considered 2nd property. If you exercise after, that will be considered 1st property. It is safer to go for the latter scenario although you maybe eligible to claim the ABSD paid for purchase as your sale is within 6 months after you purchase, but certain conditions apply before the claim can be successful.

Let me know what are the landed home requirements you have perhaps as we have a huge database of landed homes for sale islandwide. Concurrently these landed home sellers may also be downgrading and can consider to purchase your place too.

Hope to hear from you soon.

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B)
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Nick Tan
Hi Bernard,

If you sell your condo (ie your buyer exercised the option) before you exercised the option for your purchase of a landed property, then it is considered as a 1st property and you will NOT need to pay the Additional Buyer Stamp Duty.

Alternatively, if you and your wife will be buying the landed property together, you will be able to apply for a remission of your Additional Buyer Stamp Duty as long as you sell your condo within the 6 months of purchase of the landed property. Do refer to the link for more info:

https://www.iras.gov.sg/irashome/Other-Taxes/Stamp-Duty-for-Property/Claiming-Refunds-Remissions-Reliefs/Remissions/Remission-of-ABSD-for-A-Married-Couple/

Please feel free to contact me if you have further queries!

Regards,
Nick Tan
(M) +65 9644 4854
B.Eng(Chemical)(Hons)(NUS)
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(W) www.nick-tan.com

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“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
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CK Ang
Hi Bernard, it will be consider at the time of the purchase. AS your plan is to sell then buy, then it should be the 1st property. The stamp duty will be around 3%.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
9046 3808
res.ckang@gmail.com Read More

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YT Tan (陈永达)
Good evening Bernard,

Are you Singaporean? Cause only Singaporean is eligible to purchase landed property in mainland Singapore.

In regards to stamp duty, if you are able to issue OTP for your condo sale before the purchase of landed, you wont be subject to ABSD as the purchase will be considered as first property.

But if you dont, you can apply for ABSD remission if you dispose of your condo within 6 months from purchase completion provided you purchase the landed with your Singaporean wife as IRAS will treat it as your matrimonial home.

Hope my explanation helps!

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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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