3 Answers

Ivan Ng

As long as you are citizen and have met your MOP of 5 years, you can purchase condo, and keep both HDB & condo. You can also rent out the whole flat and stay in condo. You need not fully pay up the HDB loan, but doing so would be better as it will allow you to take 80% loan for your condo purchase.

Thanks and hope to understand your requirements further so to value-add further to your housing plans.

Warm regards
Ivan ERA
Website: http://www.ivanng10.com/#!reviews/c11r1
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Rix Jim
Hi Mr Kwok,
If you are a Singapore Resident, you have the right to rent out your HDB after you have gotten your condo. As for the loan, there is no need for you to fully paid up your HDB. however, you can only finance your condo with a loan to value up to 50% as this is your second property loan. besides this, there is a ABSD to consider. In order to understand the whole process of getting your second property and to maximize your loans and minimise your taxes. Do drop me a call for a more detail discussion.
Rix Jim
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YT Tan (陈永达)
Good morning Ying Kit,

Do take note that you have to fulfil your MOP first before you are eligible to purchase a private property.

You will be eligible to hold on to current HDB and purchase a private property if your household has a Singaporean. If not, you will have to sell off your HDB within 6 months from the completion of private purchase.

Yes normally it will be advisable to fully pay up any outstanding loan so you will be able to obtain up to 80% bank loan for your purchase.

Btw bear in mind that you will be subject to additional buyer's stamp duty and if you have utilised CPF OA funds in your current property, you will have to set aside a minimum sum of $77.5k in your CPF OA + SA first before you can use the excess.

Hope my explanation helps!

Feel free to contact me if you need any assistance or advice in your property purchase.

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171
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