Frequently Asked Questions

Q1 : What are the other costs and taxes involved in buying a property in Singapore?

Cost involves are Stamp Duties, Additional Buyer Stamp Fees, Legal Fees,

Stamp Duties For All Property Purchase : 3% – $5,400 (For property $1mil & below) or 4% – $15,400 (For property above $1mil)

Additional Buyer’s Stamp Duty

For Singapore Citizen Buying 1st Property: Nil

For Singapore Citizen Buying 2nd Property: 12%

For Singapore Citizen Buying 3rd or more Property: 15%

For Singapore PR Buying 1st Property: 5%

For Singapore PR Buying 2nd or more Property: 15%

For Foreigners: 20%

Q2 : I own a HDB flat and I am a Singapore Citizen. I have already fulfilled the Minimum Occupation Period (MOP). Do I have the pay ABSD if I want to buy a private property?

The answer is yes. The HDB is considered your 1st property and hence, the private property will be considered as your 2nd property. Therefore, you will have to pay the 12% ABSD.

If you intend to sell the HDB, you can apply for remission of ABSD and get a refund of the 12% ABSD paid, provided that you sell your HDB within 6 months from either i) the date of exercising of the Option to Purchase (OTP) in the case of a resale property or ii) the date of the letter of notification of T.O.P in the case of a new launch property.

If you are looking to upgrade but unwilling to pay the 12% ABSD, contact us for a free consultation on Asset and Property Optimization

Q3 : Can a Permanent Resident (PR) concurrently own an HDB flat and condo?

The answer is no. According to the Housing Board, even if they have fulfilled the MOP, PRs who own an HDB flat and their essential family members who occupy the unit must dispose their HDB flat within six months of buying a completed or off-plan private residential property in Singapore. In the case of a new property launch which will only be completed in a few years, you can get your solicitor to write in to IRAS to get an approval to sell your HDB 6 months from the date of the T.O.P notification. However, unlike Singapore Citizens, you will not be able to get back the ABSD paid for this 2nd property.

Only Singapore Citizens have the privilege of owning an HDB flat and private condo at the same time. But they still need to comply with the MOP before they are allowed to purchase a private residential property. They also can’t do it the other way, which is buy a private housing first then an HDB flat, as they need to sell the private property after completing their purchase of an HDB unit.

Q1: Why engage services from ?

We are the direct sales team for most of the new property launches in Singapore. We provide free asset optimization consultation and help you work out the best strategy for property investment. Our founder, Apple Tay, is a seasoned property investor who attained financial freedom via property investment, she can share with you her experience and also help you be successful in your property investment journey.