8 Answers

askguru expert
Hi SK, thanks for writing to us on AskGuru.

Yes, if you are a Singapore or SPR, you can buy a resale Executive Condominium (EC) from the 6th to 10th year. For a Singaporean household, your Additional Buyer's Stamp Duty (ABSD) payable is 12%.

Hope this answers your question.

Best Regards,

Team PropertyGuru Read More

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YT Tan (陈永达)
Good morning SK,

you are eligible to keep your HDB and buy a resale EC (more than 5 years old) if your household has at least 1 Singaporean.

Care to share why do you intend to pay the ABSD?

Do take note of other restrictions as well:

- need to set aside basic retirement sum in your SA+OA before you can use the excess CPF OA funds in the purchase
- only can loan up to 45% for purchase if you still have outstanding HDB loan

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
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Aaron Chong
Hi SK,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes you could if either one of you is a local. But if both of you are PR, then cannot keep the HDB flat.

Regards
Aaron Chong
9730 8455
aaronchong2774@yahoo.com.sg Read More

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Ivan Ng
Hi SK,

Yes its possible. Since your HDB MOP of 5 years is met, and as long as this is a SC household, one of your names can be used to purchase the 2nd property. Do note that ABSD of 12% applies, and there could be CPF and loan restrictions if this is your 2nd loan. Amore MOP will only be fulfilled by 28 Nov 2021 btw.

Happy to do the financial planning to assist for the addition of the property portfolio. 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
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**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --

I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.

-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --

I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan. Read More

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Ling CK
Hi SK,

1) From the information provided. You are an SC and completed your HDB MOP.
2) Yes, you may purchase any EC that had met their 5yrs MOP from the TOP date.
3) The Amore TOP in 2016, it is obvious it had completed its MOP.
4) The average psf is $974.
5) There is a total of 8 transactions in 2021.
6) The most recent transaction is a 1,227 sqf sold at $968 psf, maybe because this is a #02 unit.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Any response to our answer does not reach us until we scroll through each and every query posted daily.
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Robbie Chen Chee Howe
Hi SK,

Yes, you may choose to do so. However, this may not be the most ideal choice. I'm not sure if you have assess all options that are available to you yet?

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

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Nick Tan
Hi SK,

Yes it is possible as both Singaporean and SPR are eligible to buy a resale EC. Apart from the financial consideration from ABSD, you may also want to look into the loan to ensure that you are able to secure a sufficient loan especially if you still have an outstanding loan for your current flat.

May I know whether the EC purchase is for investment or for own stay? If it is for investment, you may want to weigh all options before determining which is the best product to purchase since you are paying quite a significant amount of ABSD. Please feel free to contact me so that I can understand your situation and provide you with a more informed assessment of your situation.

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
Visit my website to know me better: www.nicktan.com.sg

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Taufik Hussein
Hi
Yes. It is totally possible for you to do so. My service for purchasing of private property including resale EC is 100% free. Do contact me at 93375051 for a free and non obligatory discussion on this.

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

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