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Hi,

For EC, you need to form a family nucleus with 1 SC to apply, is that for your case? You also cannot earn more than 14k/mth as a household.

For 2nd private property purchase, you need to set aside 80.5k (1/2 of minimum sum) in your OA+SA before you can utilize excess CPF OA monies for 2nd property. Do note that 7% ABSD also applies. For EC its not an issue as its understood that you have to sell away your HDB later.

Whether which makes more sense, may I understand your plans further so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
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Dear sir/madam,

Best option differs for different households with different needs. Some are looking for lifestyle therefore upgrading to an EC will be a good choice since it offers the lifestyle of a condo but at a more affordable pricing. The setback on this will be locking in for a period of 5 years MOP before you are able to consider selling or renting out the property. From investment perspective, should you decide to purchase a private condo with intention to rent out the HDB, you need to bear in mind of the ABSD that will be applicable for the purchase, where you are likely to take more than 30months of rental income in order to offset this ABSD amount, bearing in mind that value of HDB may change depending on the age of property as well as the upkeep of the unit by your prospective tenants.

Hope the above helps.

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Geryl LIM
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Hi,

Will recommmend EC as you will not have to pay ABSD and can opt for deferred payment scheme. Private property ABSD 7% will be liable base on your contents.

I am contactable at 92222389  or onassis@sgrealtor.com / sgagent.com

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

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Hi upgrader,

It'd depend on whether you're looking to upgrade your lifestyle or doing an investment; getting an EC would probably be easy for you based on your situation, and it would be an upgrade of your lifestyle; on the other hand, should you get a private condo, there will be extra outgoings such as ABSD which you have to take into consideration.

Feel free to contact me at your convenience, and we can carry on from there.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More