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Hi,

Yes you can use their names to purchase the private condo. Are their names in other property ownership? If so, ABSD is payable. ABSD is based on property count (number of properties you have while purchasing), whether you take loan or not is not relevant.

You can't purchase overseas properties under your name as you have to wait until 5 years MOP is fulfilled before you can purchase 2nd property under your name again. Otherwise, the EC application may be cancelled.

May I have more info so to make better recommendations?Thanks and look forward to value-add to your housing plans further.

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

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Dear sir/madam,

Since you have just purchased an EC under your name, you will be ineligible to purchase any residential properties locally or abroad.

You may put your parents name for the private condo, however, if loan is required, then they will need to fulfill the income requirements in order to be eligible for housing loan. You will be ineligible to be guarantors for them in the private condo purchase.

Is there anything else I can assist in?

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
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Afternoon,

EC falls under HDB till the MOP requirement have being fulfilled. Hence you can only purchase private property under your parent's name. They will also be required to finance the property on their own. However, this is provided that they are SC if they want to keep the HDB unit. ABSD is definitely payable on the purchase of their second property.

Do feel free to contact me should you require additional assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Good evening investor,

Do bear in mind that you have to fulfill minimum occupation period of 5 years before you are eligible to purchase a private property be it in Singapore or overseas. But having say that, you can opt for commercial or industrial property.

Nevertheless your parents can purchase a private property if they are eligible and ABSD might be applicable if this purchase is their second or subsequent property.

Hope my sharing is beneficial to your investment plans.

If you need further assistance or advice in your plans, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
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