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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    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.
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    charlane
    charlane
    6 February 2023
    Stephen is very professional and trustworthy agent, he's very responsive and treat all customers with respect. He has put in a lot of effort in making sure my transaction is handled properly, on time and on top of priority. I have already recommended him to my friends that's interested in buying property. Thanks Stephen.
    Elwin840808 Elwin
    Elwin840808 Elwin
    16 January 2023
    Stephen really a good agent. I was new to home selling and have heard many about terrible agents. Stephen was professional and he never made me felt uncomfortable. He is professional, experienced and helpful agent. Highly recommend.
    Marchelina Vincensia
    Marchelina Vincensia
    17 August 2022
    I’ve met so many property agents in my life but Stephen is really a rare find. If you are looking for someone unconventional, who gives advice based on data and answer all your easy and hard questions tirelessly, then I couldn’t recommend Stephen more. A very hardworking, humble and strategic agent, highly recommend!
    Sei Chia Lau
    Sei Chia Lau
    4 August 2022
    Stephen is efficient, responsive and informative. He is able to give us useful advise and guide us patiently. Overall, his service is great👍
    Stanley Tan
    Stanley Tan
    26 June 2022
    Stephen is experienced, analytical and views properties comprehensively. This is evident right from the beginning when we chanced upon his informative YouTube videos. He provided us invaluable advice throughout the process of our property purchase. His calm, humble and polite nature made him an approachable professional to discuss the many questions we had. He was patient with his technical explanations as well as his insightful suggestions. He placed our interests first, in the buyers' shoes, gave us space to consider and has never rushed us to make decisions without proper considerations. His attentiveness goes a long way. Stephen carefully planned out the timeline for us and gave us reminders to complete the various items ahead of the deadlines to avoid unwanted hiccups. It was entirely a worry-free process. Stephen even gone the extra mile to meet us at the law firm to show us the way and be in person with us to sign the S&P. He made our property purchase a great buy and an enjoyable experience. Thank you, Stephen.
    Leo Lim
    Leo Lim
    21 March 2022
    I would like to send a note of commendation to Stephen Chong for his dedication, professionalism, diligence and patience in handling of property transaction. I would absolutely recommend Stephen Chong to buyers and sellers who are considering to buy or sell their homes.
    Lim Ming Hwee
    Lim Ming Hwee
    26 February 2022
    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
    24 December 2021
    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!👍🏼👍🏼👍🏼
    SZ Lim
    SZ Lim
    20 July 2021
    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.
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