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Hi Mr Richard,

Buying resale EC is as good as buying any private property. Since you are servicing loan on your private condo, also implied you had reached MOP for your current flat.

Yes, you are allowed to buy a resale EC on open market, the only thing you have to take note is the ABSD and the recent announced additional 1% buyer stamp duty for property over 1 million.

Hope the above answer to your main concerns, but if there are more queries, do not hesitate and 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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Hi Richard,

Resale EC is considered private property, hence you can purchase as 3rd property no issue. The main issue will be 50% max loan for 2nd outstanding loan and also ABSD of 10% if you are buying the 3rd property. 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
Contact: (+65) 97432395 
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(Client's Testimonials)

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Hi Richard,

Yes, you will be eligible to purchase a resale EC that has passed it's 5-years "MOP period".

This will be considered your 3rd property, hence ABSD of 10% applies. Since your condo is still under mortgage, do take note that your Loan-to-Value is capped at 50%, and your downpayment cash is minimum 25%.

There may be other options you can explore in this market. I will need more information from you in order for me to propose the most appropriate recommendation.

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 and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi Richard,

Thanks for your query!
You are allowed to buy a resale EC, however do take note of the ABSD levied at 10% coupled with the Amount to loan ready at 50%. Perhaps, we could work around this situation with some finances info and inputs from your end, and explore options to enhance your portfolio without substantially incurring.I have on hands a comprehensive data app which is able to demonstrate the overall market price trends. With inputs from your end, I will be able to churn out succinct price performance of a particular development alongside the rental returns % and comparison of capital appreciation scope. Furthermore, we could analyse the exact profile of buyers and all these comprehensive and detailed analysis can be made available only once I have understood you're investment objectives and finances on hand.

Please do contact me at 96659926  for a short in depth discussion to value add your purchase and offer thorough insights to the property outlook! 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 Q1 Top Achievers (Top1%)
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2014-2017 ERA Asia-Pacific Business Conference Elite Award

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