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Hi,

If you have met MOP of 5 years and have at least 1 SC as owner, yes you can purchase 2nd property and keep both hdb and condo. However, do note for 2nd property ABSD of 7% applies and also you have to set aside basic retirement sum before any excess CPF OA can be used for 2nd property. The 2nd mortgage loan is also capped at max 50%.

From the basic info shared, having 2 properties might be a stretch due to the above. May I have a rough idea of your hdb location? May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
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(Client's Testimonials)

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-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --

Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship.

Our unit comes with its challenges but Ivan remained positive and had no qualms committing to our plans right from the start. It took only 6 weeks of aggressive marketing for him to secure a good offer which was a pleasant surprise in the end.

Ivan was always responsive and we had no worries to pass him the house keys. The whole process was transparent and hassle free, and he was always thinking from our point of view on how to make life easier for the client. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.

--- HDB Flat Upgraders Mr. & Mrs. Lee ---

We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.

He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.

When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.

Thanks Ivan! :)

-- HDB 5-rm Sellers Mr. & Mrs. Ting --

We have engaged the services of Ivan Ng for sale of our property at Pandan Gardens. He is professional and systematic in his marketing approach.

He is hardworking and committed to his work. He puts in great efforts in arranging clients for viewings and kept us updated thereafter. He is ever ready to help and guide us whenever the need arises.

He provided us with sound and useful advice as well as closely follow through from the start till the smooth sale of the property within a short period of time.

Thanks, Ivan. Keep up the good work! Read More

Hi,

I assume you are all Singapore Citizen, as SPR are not entitled to private property once they own a HDB flat.

(1) You have outstanding loan, thus eligible for 50% mortgage loan for 2nd property.
(2) You are subject to ABSD, which 7% for Singapore Citizen. Not forgetting the 3% (BSD) that is always there for buying property. Thus it would be 10% stamp duty for 2nd property.
(3) For buying 2nd property using CPF, you have to keep BRS ($83k) in 2017, $85.5k in 2018 in CPF OA.
(4) The loan amount will dependent on:
(a) any existing loan
(b) current salary/income
(c) Age
So there might be adjustment after 5 years.
(5) After considering the above restrictions:
If buying a $1M property,
CPF 15% = $165K
5% cash = $50k
stamp duty = $94,600
50% (cash + CPF) = $285k

You may see from the above that with your cash + CPF saving, you will still need another $285k cash +/or CPF in order to buy 2nd property.

The size of a $1M Private property is much smaller than a 5-rm flat.

Thus suggest to sell off current HDB and buy a freehold condo, so as to upgrade your lifestyle than to downgrade.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

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Any response to our answer do not reach us until we scroll through each and every queries posted daily.
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Hi,

In the past 4 months, I have sold 3 units of 5RM flats in Queenstown Estate, all above $1 million, setting and breaking my own records 3 times. And I'm extremely honoured to have appeared on a local newspaper for this humble achievement.

My clients, the Sellers of these HDB flats have very varying reasons for selling their million-dollar HDB flats. And I have handled numerous of such cases where I helped young couples in their 30-40s to upgrade comfortably, while owning 2 properties, one for own occupancy, the other for rental income.

I am confident that I will be able to assist you in your planning for Asset Progression. Please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

I am assuming that your intention to upgrade from your existing place is to seek a better lifestyle, thus upgrading to a smaller apartment or condominium may not be ideal in your plans, nevertheless, if ownership of current HDB is under both your partner's and your name, the applicable stamp duties for your next purchase of a comfortable size unit could be a significant amount as it will be based on the purchase price. If there is a solution to reduce the stamp duties applicable in order to own 2 units (1 for own stay without compromising on space while another for rental income), I believe that could be an attractive solution for you. Most importantly, you must ensure that financially, this can be a viable option and I can work something out for you concurrently while you reconfirm on your loan details.

I am available for a private sharing session to work out these details for you at a convenience time and location for you. Do get in touch with me in private as we are not alerted to any responses posted here.

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Regards,

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

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Good day Sir / madam .

If you choose to keep both the hdb and a condo eventually , do note the extra taxes ABSD payable that you have to pay , extra 7% of example $1.5million condo equals $105 000 .

Vise versa , if you are willing to sell your hdb and buy a $1.5m condo , equals $105 000 savings in taxes . No ABSD payable .

When you do your sums , you might realise it takes about 5 years of hdb rental income to recoup the ABSD payable If you choose to keep your hdb .

You can do the hdb sale and buying of condo concurrently , if the buyer of your hdb is willing to grant you few months extension stay after sales completion , it will be more convenient for your family during the interim period such as a month to renovate your condo , therefore no need to shift twice during the transit .

Kindly contact me Joanne chia Hp 8333 3327  for a no obligations chat for your property needs.

My charges are 1% commission for exclusive ( sole agent ) selling rights to your hdb or 2% for open listing ( many agents marketing ) .

No commission chargeable when i serve you to buy a freehold condo .

Thank you .

Joanne chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More

Dear Sir/Mdm,

For your case, it is better to upgrade from your current HDB to a freehold property. This is because if you have an outstanding loan for your current HDB, you may only loan up to 50% for your 2nd property. Moreover, you will need to pay Additional Buyer Stamp Duty (ABSD) of 7% which may take many years of rental collected from HDB just to recover this amount.

Your loan assessment from 5 years ago may not be valid today as there are new framework for home loan assessment such as the Total Debt Servicing Ratio (TDSR) which was introduced recently. It will be better if you can do a reassessment to get an accurate loan indicative for today.

If you still have strong earning power then it will be a good opportunity to upgrade your assets and enjoy the capital appreciation in the long run.

Please feel free to contact me so that I can gather more information and understand your situation better before I can give you a more informed recommendation!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nicktan.com.sg

Featured on Council for Estate Agencies (CEA) Newsletter:
https://www.cea.gov.sg/docs/default-source/module/newsletter/3-2017/bouquets-for-property-agents.html

Testimonial from Satisfied Clients (2016/2017)
“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)

“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.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

Mr and Mrs Chan (Sold and Bought a property through Nick) Read More

Hi do contact me at 97970200  to discuss more

Mark, your RIGHT choice
MCG Read More

Hi

Yes, you may buy a 2nd property if you have met your 5 years MOP.

You have said that you prefer to have both, a HDB and a condominium.

Let's meet to find out whether the possibility of owning a 2nd property an option for you.

You may write to gavin.ng@orangetee.com.

Regards

Gavin Read More

Dear Sir/Madam,

I have a few recommendations on hand, if you are still open to look at possibilities, please kindly contact me at 96722265  .

Adnic Lee
ERA
Associate Div Director Read More