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Regarding the new measures announced on 30 Aug, I understand that if I don't want to pay the 3% tax when I sell my private property, I need to keep the property for 3 years. How does this apply to new launches? When does the 3 years start - when I sign the OPT or when I take possession of the unit? If it starts when I take possession of the unit, can I sell it before completion? Thank you for your time.
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1 Answer

Richard Wan
Replied
Hi Carol,

In the case of new launch, the 3 years starts from the date you exercise the OTP and sign the Sales and Purchase Agreement. This is usually about 3 weeks after the OTP is issued to you.

Therefore, the construction period (usually 2-3 years) is included in the 3 years of the seller stamp duty period.

Thanks!

Regards,
Richard Wan
Black Diamond Real Estate Group
richardwan@live.com
 94363793  Read More
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