6 Answers

Hi,

As long as one of the SC is a owner of the HDB, and MOP met, you can buy condo and keep both. However, 2nd property ABSD applies, CPF usage is more restricted but loan can be max 80% since your HDB is fully paid.

Which condo project are you considering at the moment? Thanks and hope to value-add to your housing plans further.

Warm regards
Ivan ERA
 97432395 
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  • WR
    Meaning, i can lease out the whole HDB?
Morning,

As your family consist of SC, you are eligible to purchase your second property without the need to sell your current unit. Do note that if the second property is purchased under your name, 10% ABSD is payable. If it's under your spouse name, 7% ABSD is payable.

Do contact me further for detail discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
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  • WR
    Meaning, i can leased out the whole HDB?
Hi,

You can surely keep the HDB and purchase a condominium.
The only pointer to note will be the ABSD liable, depending whose name it is bought under. In such cases, it will he good to discuss the nature of purchase and objectives so that I can advise some solutions and procedural framework to proceed.

Perhaps more information on requirements and budget would help me focus on the available inventory of units for your consideration. We will also have to conduct a financial cash computation/ progressive payment, breakdown of payment for purchase & work on your IPA (done by network of bankers at no cost).

Furthermore, there is NO agent fees involved! So you can take this opportunity to discuss more on your preferences & for me to give an entire overview and share more insights to the market, chart out the market price analysis and recent sales transaction caveats, work out comprehensive financial cash projections and provide you with up to date information to the procedural steps and its associated wings- financial (loan) , legal matters etc.

It's a weak market now and its best to leverage on it to get the best deal. Firesales and high discounts as high as 18-30% across the vicinities! The question is- how to leverage and whom to work with to ensure your interests are met!

D Kumar
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Dear sir,

You may lease out the whole unit of HDB usually with the approval from HDB. As mentioned, you may wish to look into how you can save on ABSD when it comes to purchasing a 2nd property.

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Geryl LIM
Real Estate Director
Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
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YT Tan (陈永达)
Good afternoon buyer,

As your household has at least one Singapore citizen, you can hold on to and rent out your current HDB while purchasing a private property.

But do take note that you will be subject to additional buyer's stamp duty for this purchase. If both names - 10% because you are SPR and if solely by your wife, it will be 7%.

You will also have to set aside a minimum sum of $77.5k in your CPF OA + SA if you have utilised CPF OA funds in your current HDB.

But not to worry. I have a better suggestion.

If you choose to decouple with your wife as owner while you as occupier, you will only incur 5% additional buyer's stamp duty as SPR as this will be counted as your first property purchase. You wont have to keep a minimum sum in your CPF account when you purchase this property as well.

Hope my explanation helps!

If you need any assistance in your property purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727 Read More
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YT Tan (陈永达)
Hi buyer,

Yes you can rent out your whole unit with the approval from HDB since your household has at least one Singaporean.

Btw any update on your purchase? What do you think of my proposal?

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
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