Asked by Mr. Fred Yeo
We are currently residing in a nearly 8‑year‑old one‑bedroom condominium (OCR, 474 sqft) that is under my wife’s name. At the same time, we are renting out a 40‑year‑old 4‑room HDB flat in Hougang for S$3,000 per month. Both properties are fully paid. We are in the process of inquiring with HDB regarding the transfer of the HDB flat into my name, with my wife’s CPF contributions refunded back into her account. At age 54, we are exploring possible options for our next step. One scenario under consideration is acquiring another freehold one‑bedroom condominium under my wife’s name, with a budget of up to S$1,000,000. This would incur an ABSD of 20%, and the intention would be to rent it out for passive income. We would like to hear professional opinions on the viability of this approach, including the financial implications, rental yield prospects, and long‑term suitability for retirement planning.
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