AskGuru Q&A Community

Hi Mugen,

As long as one of the owners of the HDB flat is a Singapore Citizen, you will be able to purchase another residential property after you have fulfilled the 5-years MOP of the HDB flat.

Do take note that ABSD is payable. For Singaporeans purchasing their 2nd residential property, ABSD rate is at 12%.

Also, take note that if your HDB is still under loan, you will only be able to loan up to a maximum of 45% for your condo purchase. This means that you will need to fork out 55% of the purchase price as downpayment.

I am experienced and well-versed in both private and HDB resale 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

Dear sir/madam,

It has been a while since I last saw someone signing off as Mugen Fire in this forum :)

I believe my good friend Robbie has already addressed your question in terms of your eligibility to purchase a 2nd property.

The key thing is whether you are ok to pay the ABSD for the 2nd property, which is a hefty sum, where you can look into structuring your home ownership if owning 2 homes is your plan in building your asset wealth. I am an advocate of proper financial planning and do not advise my clients to leverage in terms of loan especially in times of economic uncertainty.

It is best to sit down together with some existing numebrs and work out your sums to determine feasibility to move forward with your plans.

I have been in the real estate business since 2009, with more than 10years 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 8,500 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my clients’ 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.

Please feel free to reach me from my website www.geryllim.com or connect with me directly on my mobile phone at 81577565  .

I look very much to hear from you soon.

http://bit.ly/HDBMillionaire

Note: We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value. Restructure your portfolio with us, speak to us!

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

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/

Pick up knowledge, skills and Real Estate concepts at https://www.facebook.com/RealEstateXcellence/

New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/

My self introductory video on https://www.youtube.com/watch?v=uZ6REQfdGSw

Regards,

Geryl LIM
Consultant - Director
Century 21
CEA Reg R014783H
www.geryllim.com
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ https://webapp.mobileappco.org/m/MoreLanded7772/ now! Read More

Hi Mugen.

I am Bhavina Kaur, a Real Estate Agent with ERA and focus on Residential Properties.

You will be eligible to purchase a 2nd Residential Property so long as 1 of the owners of your HDB is a Singapore Citizen. Do note that for the purchase of a 2nd Residential Property, Additional Buyer Stamp Duty (ABSD) will be payable.

Do contact me if you would like me to assist and we can discuss further.

Bhavina Kaur
M: +65 91708295 
E: bhavina7777@gmail.com
W: investbuysellrent.com
F: facebook.com/investbuysellrent Read More

Hi Mugen, do contact me at 97970200  to discuss more

Mark, your RIGHT choice
Propnex Read More

Hi Mugen,

Is it definitely possible but it will be recommended to do up a financial plan so that you can determine whether you will be overstretched under such a situation and the plan will give you a good idea of your cash flow.

Please feel free to contact me so that I can draw up a financial plan for you and advise you accordingly.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

I have written a guide on buying Residential Property:
http://bit.ly/buypropertyguide

Testimonial from Satisfied Clients
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Hi Mr. Mugen,

1) Own a HDB and purchase a private required one of you to be SC to be eligible.

2) You have to dispose off your HDB if both of you are PR.

3) Assume you're eligible, you have to pay 12% ABSD on the 2nd property.

4) If there are existing housing loan, your 2nd loan is limit to 45% only.

5) You have to set aside of BRS before allow to make use of your CPF for the purchase if you had use CPF for your current flat.

6) Do note that ABSD of a $800,000 property, the cash for the ABSD is $96k, which of course also can use CPF to pay if there are sufficient amount in your OA.

7) Assuming you are to take this route of paying ABSD and proceed with the purchase. Household income of $8k is eligible for a $1.3M private property.
The funds need are such: 5% cash of $65k, 20% can be cash and/or CPF = $260k, ~4% BSD + 12% ABSD ~ $192.6k cash and/or CPF.

Lastly, although capital appreciation of up to 40% is still available in market, but you must be extremely proficient in doing your homework to find the right property.
Otherwise, the common CA achieved is usually about 12%, which is the main reason why gov had set this number to keep armature investor from entering the market.
Do also note that not every project, every unit can get this type of CA (12%).

Hope the above answer to your main concerns, but if there are more queries, 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

Note:
Any response to our answer do not reach us until we scroll through each and every queries posted daily.
The best way to get a follow up is to whatsapp or email us directly. Read More