2 Answers

Ivan Ng
Replied
Hi,

If you are citizen and have met MOP of 5 years, you can purchase another private property and keep both HDB & condo. However, 7% ABSD applies and there will be minimum sum requirements for CPF. 2nd loan property loan will also be lower at max 50%, if you have an outstanding loan.

Thanks and may I understand your requirements further so as to value-add to your investment plans? Hope to discuss further.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
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  • CS
    Replied
    Hi which mean HDB also consider a 2nd purchase even we are 1st time purchase condo? So have to pay 7% ABSD?
Mike Lim
Replied
Evening,

If either of you are SC and have fulfilled MOP, you will be eligible to purchase your second property without the need to sell away your current unit. Do note that if the second property is purchased under SC, ABSD of 7% is payable. Do also note that if your current unit is still under mortgage, the max loan available to you will be 50%. You will also be required to set aside the CPF minimum sum before you will be eligible to utilize the balance for payment on your second purchase.

Do contact me further should you require additional assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
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