3 Ways to beat 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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3 Ways to beat ABSD and Own Multiple Properties
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