Anyway of Buying EC without selling Pte Properties?

[leesg123]

Really, any way? dont flame me, just some health discussion.

[Arcachon]

Get one of your family member to buy.

[Kelonguni]

Really, any way? dont flame me, just some health discussion.

Second hand can?

[princess_morbucks]

Second hand can?

The website didn't mention any restrictions on resale EC ownership from 6th to 10th year, apart from being SC/SPR and above 21 years old.

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatEligibilityECOpen?OpenDocument#TOC60020_1

http://www.propertyguru.com.sg/question/192526/we-are-sprs-can-we-buy-resale-ec-5-10-yrs-old-from

[princess_morbucks]

See post #7.

http://forums.hardwarezone.com.sg/homeseekers-homemakers-74/question-buying-resale-ec-4056635.html


Finally got official reply frm HDB already...


"Thank you for your email of 16 January 2013.

HDB flat owners (SC) may invest in a private property after meeting the Minimum Occupation Period (MOP) for their flat. There is no need for them to dispose of their HDB flats if they purchase a resale EC which has reached the MOP of 5 years.

In general, you must be a Singapore Citizens (SC) or Singapore Permanent Residents (SPR) in order to buy a resale Executive Condominium (EC) in the 6th to 10th year occupation period.

However, all restrictions will be lifted from 11 year onwards. Hence, foreigners and corporate bodies can buy EC in the open market from 11th year of the EC project. "

So now we all know EC is considered half-private condo after 5yrs and 100% private after 10yrs. Only difference is after 5yrs can only sell to SC or PRs.

[minority]

Get one of your family member to buy.

cannot under the current loan policy. Buyer need to take loan and a sleeping buyer cannot take loan on behalf of the buyer. i.e. father etc. if the father want to take loan to pay for the EC his existing property ownership comes into play.

So that EC door loop hold have been close. Only ways is Rich father transfer $ everymth to pay for it. Son go buy the EC subjected to the TDSR n ABSD rules.

[Cathay]

[QUOTE=princess_morbucks;493879]See post #7.


Will that be considered as a second property ?

Beside the standard stamp duty that need to pay, ABSD will come in ?

Additional 7% for SC ?
Additional 10% for PR ?


Hmm, Might need to consider the above ? Cos all need pay in cash :scared-5:

[Allthepies]

EC only good when u buy new, as it is subsidised by our good government.... resale EC is priced to market...

[Arcachon]

Market now is low, so good to buy PC instead of EC.