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Good afternoon,

Thank you for your enquiry. Is there still home loan outstanding on the HDB? If it is likely that the next property you are staying at you would be staying for a good 8 to 10 years, especially to get through the school going periods of your kids, I would recommend to purchase. Simply put, over a longer period, property prices in Singapore are relatively stable and will maintain its value as it is a well regulated market and the government has a strong interest in keeping property prices on a stable and sustainable growth path. Buying the right property will be a good hedge of inflation and also be a good platform for wealth preservation. On the other hand, renting for long-term is a long-term substantial cash outflow. And on top of that as the age of buyer goes higher, the max loan and loan tenure will go lower, reducing your max price range and options available for the ideal property. It will be triple whammy if prices maintain their upward growth trend.

If you plan to purchase, and would like to hold onto the HDB as well, so ABSD will be applicable for your next property purchase. If that's the case, it will be good to use the Singaporean name to purchase, since the ABSD will be at 17% instead of that of SPR's 25% . It is also advisable to restructure the loan on the hdb to a sole borrower (the SPR's name), so that the SC owner can get a higher loan (max 75%) since he is no longer a borrower of a housing loan.

Happy to share more on the optimal financial plan and next move for your property journey. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

SEAA Salesperson Achievement Award 2021 (Gold)
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SMU BBM (Finance), Magna Cum Laude
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Contact: (+65) 97432395 
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-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --

I would like to compliment Mr Ivan Ng for his professional work and effort. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. and he managed to secure a buyer for our EC. Thank you.

-- HDB BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --

I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan understands our needs and carefully guided us through. Read More

Hi Sir/Mdm,

It is possible to upgrade and avoid ABSD, as well as to minimise your cash outlay and transit from your current HDB to the next place without the need for an interim housing housing. However, proper planning is required so that you are able to transit smoothly and seamlessly.

I would think that a 4 bedroom, 5 bedroom or a cluster house would be good options to fit your requirements. In my opinion, it is better to upgrade now as compared to renting out your HDB because the HDB market is doing quite well now because of the supply shortage due to covid. Once the supply can keep up, HDB prices will be on the down trend again. Interest rates are still low now and therefore it is better to lock in at a lower rates now.

I have assisted many of my clients to transit from a HDB flat to a private property and they do not need to pay ABSD and not need to rent a place to stay in between. Please feel free to contact me so that I can understand your situation better and run through with you in details the plan in terms of your timeline and cash flow.

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 get to know me better:
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I was featured recently on Council for Estate Agencies (CEA) Newsletter:
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Testimonial from Satisfied Clients
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
Weilun & Benita (Property Seller)

“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.” 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 and in my opinion, selling of your HDB flat this year would be ideal and upgrade at the same time by doing both the selling and the buying of the next purchase of private property concurrently. As the prices of the HDB flat may not remain high come next year and it may not even be a seller’s market by then.

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

Hi Sir/Madam

1. Current valuation of your unit
It will be good to know the current market value of your house before deciding to sell
Selling price will be depend on level, facing, condition of unit, etc
Appreciate if you can contact me at (65) 96608508  with details of your unit so I can advise accordingly

2. If you have not sell your current HDB and buy another private property, 2nd property ABSD might apply.
Alternatively you can consider to apply for 2nd ABSD remission if you can meet the conditions

3. It is important to work out your financial plan before making a move to upgrade.
Factors to take into consideration will be sale proceeds from the sale of your HDB flat, current and CPF return, loan, stamp duty, etc
I will be glad to go through the financial planning with you in order to decide if upgrading is the best option.

4. Do you intend to take loan for your purchase?
If yes, Before shortlisting project/unit, I will suggest to check your in principal approval of your loan from banker.
I can connect you with reputable banker for this, free of charge and no obligation.

5. Current rental market
Looking at the current rental market, I believe you can get good rental for your unit

I have assisted many of my clients to upgrade from HDB to a private property smoothly without paying ABSD and not need to rent a place to stay in between
I will be glad to assist you as well
Appreciate if you can contact me at (65) 96608508  with details of your unit
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

I fully understand your concern. If you choose to buy first, you have to pay a hefty ABSD of 25% cash (can be refunded if you sell your house within 6 months) and subject to lower loan approval (technically it is still possible to get a maximum loan but with a very restrictive timeline). A simpler way is to sell first and request an extension of stay from the buyer. Once the OTP is exercised by buyer, you can then proceed to option for a private property. From there, you can work on the right timeline to avoid having to put up at a temporary place of stay. In addition, you are not liable for ABSD (IRAS will still deemed you to be having 1 property as property count is based on exercise date not date of transfer) and you still can get a maximum loan from the bank (Once selling option has been exercise, the bank can gives you maximum loan under MAS regulations). I have ever assisted some of my clients in transitioning smoothly from HDB to a private property using this method. However do note that you still need to come out with 5% cash deposit and normal stamp duty rate to be paid in cash (stamp duty can be refunded later by IRAS if you choose to pay stamp duty by CPF). I am well aufait with both HDB and private property and have assisted several of my clients in transitioning smoothly from HDB to private property. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
Marketing Director
ERA Realty Network Pte Ltd
CEA Reg No: R061607B
Contact No: 93375051  Read More