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Hi,

If you are below 55 years old, do note that if you own overseas property, you need to sell off that and wait out 15 months before you are eligible to purchase resale HDB.

For HDB flat, you cannot immediately rent out the whole unit after purchase if you are not staying there during the 1st 5 years of MOP period. For overseas income, it may still be possible to get HDB loan but your income cannot exceed SGD$7,000 per month if applying as a Single. Bank loan may be possible if you are able to furnish income documents with bank statements, but the max loan could be only 60% to 70% for offshore income.

You will have to pay buyer's stamp duty of approx 3% on the market value/purchase price. Property tax is payable annually and usually is within the $2k range and manageable.

Yes you can use your full CPF OA for housing provided you have not reached 55 years old. Yes there will be 1 appointment which you have to physically attend at HDB, unless you appoint a Power of Attorney.

Hope the above clarifies. May I have more info and requirements about your plans so as 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,
HDB homes are meant for owners to live in them. Since you are currently based overseas, you will not be able to buy a HDB flat of any kind. These are the rules. However, if you feel that you are ready to invest, I would suggest you look at buying cheap private condos for investment if you are going to be away for some time. At least, this option would give you an opportunity to take advantage of the capital growth of a property in SG. Anyway, private property appreciates faster than HDB. Please contact me directly so that I can find you a very affordable unit in a nice locale.
Cheers!

Elan Govan
MABA (Lancaster)
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jayelan@gmail.com
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It is quite unlikely you are able to rent out your flat immediately after purchasing it. All HDB flats are subjected to 5 years Minimum Occupation Period before you are eligible to rent out. For loan options, you will need to do loan assessment with banks or HDB to find out more. Property tax will be based on existing rates and as mentioned, since you are unlikely eligible to rent out, there is no income tax implications. You may appoint a power of attorney to assist you in the documentations, and if you already have your Singpass, you may actually log in to the HDB resale system for endorsing of documents online. Usage of all CPF OA for your downpayment can be done if you are eligible to do so, mainly considering your age. Read More

Good morning,

You are eligible to utilise your CPF OA funds and take up a loan if eligible to purchase a HDB. You can appoint an power of attorney (POA) to act on your behalf for this purchase.

But do take note that you are NOT eligible to rent out whole unit as owner need to physically occupy the unit for 5 years before can rent out. Even for renting out of bedrooms, owner must be physically occupy the unit.

If you wont be in Singapore, private housing could be a better option as there's no such restriction. . If you buy a private for rental purposes, rental income will be added onto employment income for tax purposes.

Property tax will be based on non owner rate as well.

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
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