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Are SPR's allowed to upgrade from HDB to Private condo without getting subjected to ABSD of that of second property ?
As SPR's are legally and lawfully bound to dispose of the HDB in the next six months, can I assume it is no brainer that the condo purchase would be treated as first property wrt ABSD and only be subjected to 8% ?
I am assuming so because, SPR's cant excercise any free will or intent on their current HDB if they are purchasing a private condo and hence the question of buying the private condo as a second property does not even come in to picture.

Please help clarify.
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3 Answers

Hi,

If the MOP of 5 years are met, yes eligible to purchase private property. For SPR households they are required to sell off their hdb if they are purchasing private property. It is better to sell off the hdb first before purchasing the private property, otherwise the higher ABSD rate of 15% will be applicable (as 2nd 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 Realtor
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Hi Sir
I fully understand your situation as ABSD refund for those disposing off their HDB 6 months after private property purchase only applied for married couples where one of them must be a Singaporean. In your situation, it is highly advisable for you to dispose off your HDB first before purchasing a private property. I have assisted some clients who do it this way but did not have to put up with a temporary place stay. They are able to transition smoothly from their HDB to their new condo with even some time for them to conduct renovation works on their new unit before moving in. I am specialised in HDB transactions as well as private property and have assisted clients in transitioning from HDB to private property smoothly. The way I managed my cases is to ensure that my clients needs and requirements are met as I am aware that different profile of clients may have different needs. Do contact me at 93375051  for a free and non obligatory discussion on this.
Regards
Taufik Hussein
CEA Reg No: R061607B
Contact No: 93375051 
ERA Realty Network Pte Ltd Read More
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Robbie Chen Chee Howe
Hi,

For SPRs looking to upgrade from HDB to condo, it is highly recommended to sell the HDB first before committing to the condo purchase. This is to avoid paying the higher stamp duties.

If you're concern with the Timeline, fret not. I will be able to assist you for a smooth transition, without the hassle of having to shift house more than once during the transition.

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
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