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If you plan to retain the existing property under both names, yes, there will be additional buyer stamp duty applicable for your next purchase on top of the normal buyer stamp duty.

You may wish to explore decoupling the existing condo into under your wife's sole ownership if it is financially feasible to do so, such that your name will be free to purchase the 2nd property without the additional buyer's stamp duty.

Let me know if you require further assistance in your portfolio planning, I will be more than happy to be able to work alongside you for this process.

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

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Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ http://l.ead.me/7772 Read More

Hi Sir,

There will be Additional Buyer Stamp Duty (ABSD) applicable if you purchase a second residential property without selling off your current condo.

The amount of ABSD payable is dependent on both your Citizenship status. You may wish to explore some methods which may enable you to enjoy some savings on stamp duties. Do get in touch with me for further discussion.

I am experienced and well-versed in 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

Hi Yes, you will be liable for ABSD, do contact me at 97970200  to discuss more on your options.

Mark, your RIGHT choice
Propnex Read More

Hi,

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 ABSD will apply in your case.

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

Dear Sir,

You may want to consider decoupling the current property so that you may purchase a 2nd property without the need to pay the Additional Buyer Stamp Duty. I have assisted my clients who are in a similar situation, please feel free to contact me so that I can give you an overview of the process and assist you further.

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

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

I have written a guide on buying Residential Property:
http://bit.ly/buypropertyguide

Testimonial from Satisfied Clients
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“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.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Hi Sir

I recently have client who have similar situation, and I propose them another option
I will be glad to assist you as well

Appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More

Hi,

1) Since you own a property, you know that there is buyer stamp duty incurred. This is the tax involved in any property purchase in Singapore.
2) Since 2012/3, all people buying property in Singapore is subject to ABSD (Additional Buyer Stamp Duty). Meaning additional tax on a property purchase.
3) ABSD is counted according to the number of properties a person holds.
4) In your situation, you already own 1 property, the 2nd property will incur 12% ABSD, assuming you're a Singapore Citizen.
5) On top of this, if you still have an outstanding mortgage in your current condo, you can only loan 45% from the bank. Meaning your down payment is 55% instead of 25%.
6) If you have utilized CPF for the current condo. You have to set aside BRS (this amount can be in your SA) before can use the excess for the 2nd property. The current BRS in 2021 is $93k.

Hope the above answer to 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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