Asked by
My wife and I have one property each under respective name. If we buy a third property together now (considered second property for each of us), can we buy it under both our names and use both our CPF for the ABSD? Meaning if the ABSD is 100k, can we each use 50k from our CPF accounts?
0
703 views
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

8 Answers

Hi,

Best to work your finances out and follow a customised plan suited for your situation. Do let me know if you need advise and assistance in this regards.

Visit my website for my recent accolades, awards and testimonials@ www.kumarrai.com.

D Kumar
 +65 96659926 
ERA Associate Division Director

#1 team of ERA in Singapore, Asia Pacific International for 2014/5/6/7

ERA 2015 Q1 Top Achievers (Top1%)
ERA Top Achievers 2013-2017
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group
Overall Top 100 achievers 2014-2016 Read More
0
YT Tan (陈永达)
Good evening,

Yes if both of you are SC and purchase a second residential property, you are eligible to utilise both CPF OA funds after setting aside basic retirement sum of $85.5k in CPF OA + SA.

Care to share more? Intention to purchase third property?

Perhaps we can discuss and explore more options?

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor

Creative marketing (copy and paste URL) :
1)www.fb.com/yttanassetprogressor/videos/2061469157432124/
2)www.fb.com/yttanassetprogressor/videos/2036107146634992/

Accolades:

Platinum achiever (Clock $100k commission within 1 month) August 2017(Propnex)
Top Individual Achiever August 2017(Powerful Negotiators Group)
Top Private Property Transactors January 2017 (Propnex)

Find out your property value for FREE on a monthly basis. Simply sign up by clicking the link below:

http://bit.ly/yt_proptrack Read More
0
  • MC
    We are both about +/- 40 years old. Need to set aside basic retirement sum already?
Hi Yes you can, do contact me at 97970200  to discuss more

Mark, your RIGHT choice
MCG Read More
0
  • MC
    So the FULL amount of ABSD can use both of our CPF. Is this what you are saying?
YT Tan (陈永达)
Good morning!

you have to set aside basic retirement sum if you wish to purchase a second property as long as you have utilised cpf in your existing property.

From CPF website:
https://www.cpf.gov.sg/Members/FAQ/schemes/housing/housing-scheme#

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor

Creative marketing (copy and paste URL) :
1)www.fb.com/yttanassetprogressor/videos/2061469157432124/
2)www.fb.com/yttanassetprogressor/videos/2036107146634992/

Accolades:

Platinum achiever (Clock $100k commission within 1 month) August 2017(Propnex)
Top Individual Achiever August 2017(Powerful Negotiators Group)
Top Private Property Transactors January 2017 (Propnex)

Find out your property value for FREE on a monthly basis. Simply sign up by clicking the link below:

http://bit.ly/yt_proptrack Read More
0
Robbie Chen Chee Howe
Hi Sir,

Yes, you can pay ABSD and purchase another private property jointly.

However, I'm not so sure if this is the best option for you and your family. Have you explored the rest of the options yet? Is the property you're planning to purchase meant for investment purpose?

Should you need any 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
0
Dear sir,

The following information has been extracted from CPF website today:
-----------------
Q: Can I use my CPF savings to buy more than one property?
A: You can use your CPF savings, up to the Valuation Limit*, for your second or subsequent property with a remaining lease of at least 60 years that is bought on or after 1 July 2006 after meeting certain conditions based on your age.

Q: How much CPF savings can my spouse and I use for the purchase of our second property which is a private property?
A: Assuming you have used your CPF savings for your first property (Housing & Development Board flat) but not your spouse. The amount of CPF savings that you and your spouse can use for your second property (private property) will not be the same.

As this is your second property which you are using your CPF savings, you will have to set aside the Basic Retirement Sum (BRS) before you can use your excess Ordinary Account savings for the purchase.

When the total CPF savings used for the second property reaches the Valuation Limit* you will not be able to use any more CPF savings to pay the housing loan.
--------------------

Hope the information above is applicable to what you are looking for.

We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value. Restructure your portfolio with us, speak to us! Register at bit.ly/RealDealSG today.

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/

Pick up knowledge, skills and Real Estate concepts at https://www.facebook.com/RealEstateXcellence/

New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/

My self introductory video on https://youtu.be/6UfrCOCB6Mg

Regards,

Geryl LIM
Consultant - Director
Global Alliance Property (L3010679B) - Century 21
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

G.A Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now! Read More
0
Hi Sir/Mdm

I will be glad to assist
Please contact me at (65) 96608508  or Silviayang8@gmail.com for non-obligation discussion
or click http://bit.ly/2tzIQ1a
Thank you.

Warmest regards,

Silvia Yang

PropNex Realty Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More
0

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Previously Asked Questions