How HDB dwellers upgrade to condo without selling flat first ?

[Broadwalk]

You all know I study RES course, so I have this question in mind.
Now the ABSD has increased to 17% for 2nd property for Singapore citizens.

So, when you all HDB dwellers want to upgrade to EC, condo or landed, you guys will charged with ABSD. But ABSD for a condo let say on average is 1.5mil will be 255k onwards.

My question is how you HDB dwellers manage to cough out so much money for ABSD and seeking remission or you guys have to sell first then look for condo huh? How is this ABSD influence your decision and approach in upgrading your home?

 

[Ideasmiths]

Bridging loan from lich relatives/friends or the friendly bank

 

[Broadwalk]

Bridging loan from lich relatives/friends or the friendly bank

Bridging loan interest rate is hefty. The 17% ABSD is really a knocker, isn't it?

 

[Ideasmiths]

Bridging loan interest rate is hefty. The 17% ABSD is really a knocker, isn't it?

hefty? I got 1x indo colleague last time bought 1x condo at Redhill MRT area at $800K, after 3 months sold for 1.2 million. She has never seen so much $ in so short time....

 

[suzukaze]

If child is single and adult, use child's name.

 

[theMKR]

You all know I study RES course, so I have this question in mind.
Now the ABSD has increased to 17% for 2nd property for Singapore citizens.

So, when you all HDB dwellers want to upgrade to EC, condo or landed, you guys will charged with ABSD. But ABSD for a condo let say on average is 1.5mil will be 255k onwards.

My question is how you HDB dwellers manage to cough out so much money for ABSD and seeking remission or you guys have to sell first then look for condo huh? How is this ABSD influence your decision and approach in upgrading your home?

rent out the hdb 5k per mth.

60k a year, in 5 years ur absd recover liao. the condo havnt even build finish

 

[ramlee]

You all know I study RES course, so I have this question in mind.
Now the ABSD has increased to 17% for 2nd property for Singapore citizens.

So, when you all HDB dwellers want to upgrade to EC, condo or landed, you guys will charged with ABSD. But ABSD for a condo let say on average is 1.5mil will be 255k onwards.

My question is how you HDB dwellers manage to cough out so much money for ABSD and seeking remission or you guys have to sell first then look for condo huh? How is this ABSD influence your decision and approach in upgrading your home?

一萬幾千
過眼雲烟

so no such problem

 

[suzukaze]

hefty? I got 1x indo colleague last time bought 1x condo at Redhill at $800K, after 3 months sold for 1.2 million. She has never seen so much $ in so short time....

After 3 mths sold for 1.2m, pay ABSD SSD etc still got much profit left?

 

[Ideasmiths]

After 3 mths sold for 1.2m, pay ABSD SSD etc still got much profit left?

Last time where got so high ABSD? About 25 years back

 

[civicguy]

After 3 mths sold for 1.2m, pay ABSD SSD etc still got much profit left?

and BSD too

and agents fees

and lawyer fees

 

[satayxp]

just pay absd lor.. cannot avoid one

 

[Broadwalk]

hefty? I got 1x indo colleague last time bought 1x condo at Redhill MRT area at $800K, after 3 months sold for 1.2 million. She has never seen so much $ in so short time....

Your colleague no need pay ABSD for foreigners? Your indo colleague no need pay SSD penalty?

 

[ninefile]

remission
sell within 6 months
can recover ABSD
if they buy as a couple

 

[Broadwalk]

just pay absd lor.. cannot avoid one

Where to find ABSD money cashflow? That's my question and curiosity. 17% of 1.5mil is already 225k. It is almost a flat price.

 

[Ideasmiths]

Your colleague no need pay ABSD for foreigners? Your indo colleague no need pay SSD penalty?

Wah, sounds like you sexperience with high value asset wor.....

 

[Broadwalk]

remission
sell within 6 months
can recover ABSD
if they buy as a couple

If Single BBFA like me how? For couple having remission they still need to pay the ABSD upfront. Now where can they get that amount unless they sell off their 1st unit flat or condo first? This is challenging.

 

[Broadwalk]

Wah, sounds like you sexperience with high value asset wor.....

This only means you lie blatantly. I studying RES course now.

 

[Prismatic]

Where to find ABSD money cashflow? That's my question and curiosity. 17% of 1.5mil is already 225k. It is almost a flat price.

If Single BBFA like me how? For couple having remission they still need to pay the ABSD upfront. Now where can they get that amount unless they sell off their 1st unit flat or condo first? This is challenging.

Simple answer is, find a job that gives you enough cashflow loh. Something like EDWM standard, 20K per month can liao. Plus a few month bonus, 1/2 years can liao.

 

[Ideasmiths]

If Single BBFA like me how? For couple having remission they still need to pay the ABSD upfront. Now where can they get that amount unless they sell off their 1st unit flat or condo first? This is challenging.

6 months bridging loan lor.....

 

[civicguy]

If Single BBFA like me how?

For couple having remission they still need to pay the ABSD upfront.

Now where can they get that amount unless they sell off their 1st unit flat or condo first?

This is challenging.

they have CPF after setting aside enough BSD. this is usually when they are pay for their cheaper HDB flat by cash all the time

they have cash because they are not spendthrift

their agents help them calculate on how to make back the ABSD with rental income from HDB

you must learn how to sell in such situations