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Good morning,

Unfortunately as you have just registered yourself as the essential occupier for this recent HDB purchase, you will need to wait out the MOP of 5 years as well before you are eligible to purchase the next residential property. Hence you can only purchase the condo from year 2027 onwards.

Hope the above clarifies. Thanks and look forward to value-add to your housing plans in the future.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. 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. By November, he managed to secure a buyer for our EC. Thank you. Read More

Dear Sir/Mdm,

As the essential occupier, you can only purchase a private property after fulfilling the 5 years MOP. You will not be subjected to any ABSD as you do not own any residential properties in Singapore and the purchase will be the first.

For new launch, you are able to draw on your CPF to pay the BSD and ABSD. For resale condo, you need to pay upfront in cash first and seek a reimbursement subsequently.

For budgeting, you will need to set aside the following, assuming your income is able to support the max 75% of the loan.

1. 5% Cash
2. 20% CPF
3. BSD of about 3% of the purchase price
4. Legal fees of about 2.5k

Please feel free to contact me so that I can understand your requirements and assist you further.

Regards,
Nick Tan
(M) +65 9644 4854 
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Good evening Sir,

I am afraid to inform you that you have to fulfill 5 years MOP as an essential occupier first before you are eligible to buy a private property as your first property (without ABSD if you are SC based on current rules).

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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Hi,

As you're an essential occupier, please be informed that you will need to fulfill the 5-year MOP for your current flat before you're eligible to purchase another residential property, be it a new launch or a resale condo.

All purchases are liable for BSD. As for ABSD, if you're a Singaporean purchasing your first property, no ABSD is applicable. If you purchase a new launch, you can use your CPF monies to pay for the stamp duties. If you purchase a resale property, you will need to pay the stamp duties upfront in Cash first, then upon completion reimbursed from your CPF, provided you have sufficient monies in your CPF-OA.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require 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 in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi,

1) As an SC buying the 1st residential property is not subject to any ABSD as of today.
2) If you are buying a new uncompleted condo, you can instruct your lawyer to put up a request to utilize your funds in CPF OA for the BSD, because there are 3 weeks from receiving the S&P till the due date of stamp duty payment.
3) But if you are buying a resale condo then you will have to pay by cash upfront then apply for reimbursement on the completion of the sale. Because from exercising OTP to the due date of stamp duty payment is only 2 weeks apart.

4) For buying a new condo, you will have to prepare a 5% cash for the option and 15% (cash and/or CPF) upon completion which is 8 weeks from the option date. The next 5% would be 6~9 months from the completion. This is assuming you are able to receive the max 75% loan.
The above timeline is assuming you bought on the project launching day. The timeline would deviate accordingly to your purchase day.

5) $1.2M to $1.4M property cost:
5% cash = $60k to $70K
15% cash and/or CPF = $180k to $210k
BSD = $32.6k to $40.6k
Next 5% = $60k to $70k
Legal fees = $2.5k~43k

Hope the above answer your main concerns, but if there are more query, 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
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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