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Good day to you.

You plan to sell the HDB. With the proceeds, the co-owner will obtain complete ownership of the current condo, a process known as decoupling, while the SPR will go ahead and purchase a condo independently, correct?
This plan is feasible, but it needs to be executed in phases.
After selling the HDB, both parties will have one property count. For Singaporean citizens, no ABSD is required for the first property owned; therefore, proceeding with the part share transfer is feasible. However, be aware of the BSD that will be due and the need to restructure the mortgage loan for the part share transfer.
As for the SPR who intends to buy, a 5% ABSD is applicable, being her first property count, following the part-share transfer. Standard BSD and financing criteria must be met.

Let’s gather and sort everything out.

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Mark, your RIGHT choice
Propnex Read More

Hi,

1) Yes, you may do that to achieve your objective of owning 2 condo.
2) If you buy over your hubby's share, you will have to pay 5% ABSD over the share value on top of the normal BSD.
3) If your hubby buys over your share, he will has to pay the BSD only.
4) However, you will be subjected to the 5% ABSD for the new condo if the option (3) is chose.

All The Best!!!

Hope the above answers your main concerns, but if there are more queries, please feel free to contact me at 90110636  or email: ling.ck7@gmail.com if more information is needed.
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Hi, appreciate your sharing. Able to do the breakdown for you to compare. First cash out HDB to attain back your funds and CPF OA. Second, we proceed with decouple with the PR to make the purchase over the condo as require to pay stamp duty and ABSD base on 50% share, so that able to free the Singapore name out to purchase another property as only buyer stamp duty without ABSD.

Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Hi

After selling the HDB, both of you will be considered to have one property count (the existing condo). Either party can sell their ownership share to the other. If you sell your share to your SC husband, he has to pay the BSD on the market value of the share ownership purchased. When your name is freed up to buy the next property, the ABSD of 5% will apply since its your first property as a SPR.

If your SC husband sells his share to you, the BSD and 5% ABSD applies on the market value of share ownership sold to you. His name will then be freed up to buy next property. No ABSD applicable since that will be his first property count at point of purchase.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

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Should the HDB be sold, decoupling can be done for your other private property and ABSD applicable is dependant on who is buying over whose share for the current property, and subsequently buying the next unit.

It is advisable to do up your sums proper if you have not already done so.

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Hi Mdm,

Yes this is possible. The ABSD rate applicable is the normal buyer stamp duty rate for your husband who is the SC and for yourself, the normal buyer stamp duty + an ABSD of 5% for SPR.

The part sale of share is called decoupling and after decoupling, the other party is free to buy another property as the first property and pay the stamp duty based on SC or SPR rate.

Please feel free to contact me so that I can explain to you in details the decoupling process and calculate the stamp duty for you.

Regards,
Nick Tan
(M) +65 96 44 48 54
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With his help, we finally managed to sell our unit at a price within our expectations, befo Read More

Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead.

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

1. Yes, it’s possible to structure things so you end up owning two condos.
2. If you take over your husband’s share, you’ll pay normal Buyer’s Stamp Duty plus an extra 5% ABSD on the value of that share.
3. If your husband takes over your share, he only needs to pay the Buyer’s Stamp Duty.
4. Choosing option 3 means you will face a 5% ABSD when you purchase the next condo.

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You will not have to pay any ABSD if you time things correctly, so the tax would be only a small part of the consideration here.

However, what you are describing might NOT be the best move because of recent government policy changes in the last month. In fact, many of my advisory conversations with clients recently who are in a similar situation to yours result in clients realizing they should be doing almost the exact OPPOSITE of what you are planning to do.

Have you had the chance to speak to a professional real estate agent recently? You need to be aware of these policy changes and market dynamics made in the last month, before you make an irreversible move...

I'm a Harvard graduated real estate agent with a degree in economics and a decade of experience working on Singapore public policy. I have supported clients on more than $1 billion in transactions.

Will be happy to schedule a free conversation to share the information and discuss your options so you can make the best decision for yourselves. Please reach out via my contact info below.

Kay Cloud
The Harvard Educated Agent
Propnex Realty Pte Ltd
cloud@propnex.com
Tel: (+6.5.) 8.5.6.7.4.5.8.5
Whatsapp -> https://wa.me/6585674585 Read More

Hi,

Yes it is definitely feasible.

The process is called decoupling whereby:

SPR buys over SC’s share (paying BSD + 5% ABSD only on the 50% share).

SC name freed, so he can buy the next condo without ABSD.

This ends up being far more tax-efficient.

Hope this helps,

This platform does not allow me to contact you directly so kindly contact me at https://wa.me/6597261112 I would be glad to assist you further.

Thank you and best regards,

Jenny Tran
Propnex Realty Pte Ltd
(HP) +65 97261112 
(Email) jenny.tran@propnex.com
BSc (Real Estate) (Hons)-NUS

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Hi Mdm,

Noted on your plans. Theoretically, you can sell off your HDB flat, and then "decouple" your condo to under one name, to "free up" the other name for purchase of another private property.

However, recently there's some talks on the ground on "evading taxes" in the form of decoupling of properties to avoid paying higher ABSD. A few law firms has already been put under investigations for such practice.

The law states that, it is considered "tax evasion" if any parties were to transfer shares of a property (regardless of share amount) prior to a future property purchase, for the purpose of paying a lower ABSD tax rate.

Hence, I would advise you to consider your next moves properly, and not get in the way of Law, as the punishment could be severe.

Also, before you decide to decouple and own a property under each name, I strongly advise you to find out the the differences and implications of holding a property under Sole Lessee vs Joint Tenancy.

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 +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More

Hi, I’m Sam from PropNex, your trusted realtor in Singapore. Whether you’re buying, selling, or investing in property, I’m here to guide you every step of the way. Feel free to reach me at 8911 8921  for a friendly chat about your property needs. Read More