3 Ways to beatย ABSD and Own Multiple Properties?

Updated on 24 Jun 2019

Thinking the 12% Additional Buyer Stamp Duty (ABSD) is too expensive? Do you still keen to own 2 properties at the same time?
You can now seek for the 3 alternatives.

For the past 9 months, I have a lot of clients complaining to me that the 12% tax to own a 2nd property is too much, too costly.
Usually, I will share with them, what are the ways that can help them based on their background & needs.
So today, I am going to share with you that 3 legal ways you beat the expensive ABSD to own 2 properties (for Singaporean).

1st Way: If you own the flat with your spouse, sell away the flat, get your cash and CPF refund, then buy a private condo each. Husband 1 Wife 1.

First, you must make sure that your flat is a positive sale.

Meaning that you already enjoy some PROFIT after you deducting your outstanding mortgage loan and CPF refund plus interest.

This is applicable ideally for the BTO owners who has fulfilled the 5 years MOP.

However, there is a risk in doing so. You must make sure that you have enough cash, CPF refund and be eligible for your next bank loan before selling your flat.

This needs proper calculation & planning from your trusted agent & banker. Most importantly, you must make sure you can afford the monthly instalment for your next purchase.

2nd Way: If you own the private condo with your spouse, you can buy over your spouse share.

In other words, you will own 100% of the private condo.

Your spouse, with no property ownership now, can buy another private property as her first property without paying ABSD.

3rd Way: If your child is below 21 years old. You can buy a property through a Trust for your child.

However, you can only use full cash, with no CPF and no housing loan.

Most people thought they cannot sell the condo before the child turns 21 years old. This is not true and I got a solution for you.

But I got a solution for you. So please Whatsapp Stephen at +6591887652 for details.

Plan For Yourself is very Important!

As a lot of people never plan anything before going to showflat and end up paying more.

I suggest we have a short meet up first where I can share with you based on your case and what is the best scenario moving forward and based on the market now what are the projects best suit you!

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    Please review if you think the article is helpful.

    3 Ways to beat ABSD and Own Multiple Properties
    5.0 rating based on 12,345 ratings
    Overall rating: 5 out of 5 based on 1 reviews.
    Review Title
    Review Content
    Stephen Chong
    Stephen Chong
    Lim Ming Hwee
    Lim Ming Hwee
    Stephen is a very good agent who goes beyond his way to ensure that his clients are happy. He is very patient and helpful, and will always give good advice.
    Joseph Sze
    Joseph Sze
    Stephen is a professional & responsible person who has provided good quality customer services to our recent Condo housing purchase & related matters. I found he has put in great efforts and gone for extre miles to assist us in the whole process and related purchase issues. Excellent work, Stephen!๐Ÿ‘๐Ÿผ๐Ÿ‘๐Ÿผ๐Ÿ‘๐Ÿผ
    SZ Lim
    SZ Lim
    Was going thru Stephen's video when I noticed he had a google review panel up. Going to copy paste my review on his FB page from 2019. I still stand by my review. Stephen was very professional throughout our engagement process. I first engaged Stephen as his effort could be seen thru the videos he made. The videos were informative, detailed, yet easy to understand from a beginners point of view. Could also see the improvement of his videos as time passes, and that speaks volumes about one's character on his eagerness to improve and share. During my engagement with him, Stephen was very professional. Since I was very new in the scene, I required alot of guidance and honesty. Stephen was very upfront with me on many items and did not try to hide any facts from me. As a first time buyer, both good and bad prospects were laid out after his detailed analysis on my current financial condition and also on the projects we went to see. Comparing to other agents who will just blab anything that benefits their sales point, Stephen was straightforward and truthful on the issue. I have met quite a few agents but would highly recommend Stephen to people who are looking for properties, be it looking for a place to stay, or looking for a property to invest.
    YingYu Tan
    YingYu Tan
    Stephen handled both my HDB sale and new condo purchase. The whole process was fuss-free and smooth. What impressed me was his willingness to go the extra mile for his client, from analyzing every detail and being there for me and my wife every step of the selling/buying process.
    Cannot believers Mr Stephen posting my rental unit less than 10 mins ? Yes, can't believed it ? but please believed it. 1st day open ..more then 8 enquiry. Mr Stephen was very professional, patient and knowledgeable, he shares all the information i needed, excellent service ๐Ÿ’ช๐Ÿ’ช Rent out my unit within 2 days highly recommended ..BINGO
    Jade Bai
    Jade Bai
    We came across Stephen YouTube video and appreciated the tips he is providing. We decided to engage Stephen when we were house hunting. Most people may feel that you can DIY resale hdb buying process. Personally we feel its money well spent engaging Stephen. The whole buying process is swift. Stephen is very prompt in his reply. He did alot of detailed analysis and recommend us the units we can explore. He is very detailed anf meticulous. This process saved alot of time. He also gave us helpful advice on the units we viewed. No hard selling or rush you into hasty decisions ๐Ÿ˜Š
    Adrian Tay
    Adrian Tay
    Knowledgeable and professional, Stephen is not the typical agent you will meet. Ever so patient, he will help provide his genuine feedback and never pushy unlike most sales agents. Fortunate to have Stephen walk with me in my property investment journey. Will recommend Stephen to anyone who is looking for a trustworthy agent to walk the mile with.
    michael tan
    michael tan
    Very patient and give good advise. I bought ec under him and he sold my hdb.
    CY Goh
    CY Goh
    I believe every property investors or home buyers have encounters with numerous property agents. However, how many of you ever met someone with passion and enthusiasm to sit down and analyze each property based on your criteria (budget, requirements like location, size, etc)? Having watched Stephen's videos in YouTube, decided to ping him and the rest is unspoken of. Not only did he helped to narrow down our search, he also analyzed which project has higher prospect and which unit (level, facing, etc) fits our living habits. No complaints, except for not knowing Stephen earlier. Good job Stephen, thank you.
    Esther Cheh
    Esther Cheh
    Stephen was the agent assisting us in the purchase of our condo and now to market them for rental. He is extremely helpful, open, transparent and reliable throughout the entire time. He went above and beyond to help us set things up while we are not in Singapore.He is also very professional and knowledgeable about the property market in general. I am confident to leave our condo in his care to find us a good tenant and to manage them in future.
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