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Hi, I am a foreigner working in Singapore. I have a small property in China.
Do I have to declare my overseas property when I buy condo with my Singaporean spouse? If yes, will be I expected to pay a higher ABSD or any other tax?
I would appreciate it a lot if u can advise normally at which point of transaction will the declaration be required.
Thanks a lot
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6 Answers

Hi

Unless you are buying a public housing (HDB) then you will need to declare.
You do not need to declare buying a private condominium with your Singaporean spouse.

You may text 9620 0827  for a casual chat. We can share with you the transactional process, timeline and taxation for the property.

Warmest regards

Gavin Read More
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  • x***@hotmail.com
    Thanks Gavin for the reply. Greatly appreciated!
Good morning,

If you are buying private property with your Singaporean spouse, you need not declare your overseas property. Your overseas property will not be counted as a property count, only local residential properties.

Assuming your Singaporean spouse does not own other properties, and you guys purchase the next condo on a joint name basis as a matrimonial property, the stamp duties payable is approximately 3% to 4% of the purchase price.

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
ERA Senior Marketing Director
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  • Ivan Ng
    Sure, I can assist with your purchase as well. My contact is 97432395 
  • x***@hotmail.com
    Thanks Ivan for the detailed reply! Very much appreciated!
Dear sir/madam,

If you are purchasing a private residential property in Singapore, there is no need to declare your overseas property and it will not be taken into consideration on the property count for ABSD considerations, therefore if this is the 1st residential property that you will be purchasing together with your Singapore Citizen spouse, you may apply for ABSD remission since this is your first matrimonial home. Do take note however to consider in terms of financial planning, if in the event that should your overseas property requires financing in order not to over-stretch the finances for your property purchase in Singapore. Financial prudence is critical in all property purchases and investments.

If there is anything else which I may assist in, feel free to contact me for further discussion.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
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  • x***@hotmail.com
    Thanks Geryl for the detailed reply.
Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, for foreigner you need not declare for any foreign properties owned if you are going to purchase a private property. And if your spouse is a local and also going for her 1st property, then both of you need not pay for any extra buyer stamp duty and only the basic stamp duty will apply.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
1
Hi Sir/Madam

1) Foreigner need not declare for any foreign properties owned if you are going to purchase a private property.

2) If this will be your 1st residential property that you will be purchasing together with your Singapore Citizen spouse, you may apply for ABSD remission

3) Do you intend to take loan for your purchase?
If yes, Before shortlisting project/unit, I will suggest to check your in principal approval of your loan from banker.
I can connect you with reputable banker for this, free of charge and no obligation.

4) Based on $1 mill, and assuming loan is 75%
5% Cash = $50,000
20% Cash/CPF = $200,000
BSD (Cash/CPF) = $24,600
ABSD (Cash/CPF) = might apply
Legal fee = $2,500 (estimated)
Please contact me at (65) 96608508  and I can share you the breakdown for this calculation including timeline.

5) How many bedrooms are you looking at and which area you prefer?
I have current price list, promo of every projects in Singapore and will be glad to advise you

I will be glad to assist, no agent fee from private property buyer
Appreciate if you can contact me at (65) 96608508 
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More
1
  • x***@hotmail.com
    Thanks Sylvia. Appreciated your reply.
Hi,

1) There is no requirement to declare your overseas property when buying a condo.
2) No additional ABSD will be charged because IRAS only looks at the count of properties in Singapore.
3) Do note that both of you have to be the owner of this purchase so that this will become your matrimonial home.
4) You are not required to pay any commission to any agent when buying a condo thus you may look for an agent to assist in your purchase.
5) The agent will be able to find out the current market price, the number of total units, and the type of facilities in this condo.
6) You will do the emotion selection and let the agent do the logical analysis of the property.
7) The agent is also able to advise you of the bank rate and legal services cost and etc.

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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