If You’re Eye­ing a Sec­ond Prop­erty…

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Take note of th­ese cool­ing mea­sures im­posed ear­lier this year. • HOUS­ING EL­I­GI­BIL­ITY. Re­gard­less of your first res­i­den­tial prop­erty type, you are only el­i­gi­ble for pri­vate, ex­ec­u­tive con­do­minium or HUDC (hous­ing and ur­ban de­vel­op­ment com­pany) prop­erty for the sec­ond. • HIGHER MIN­I­MUM CASH DOWN PAY­MENT. For your sec­ond prop­erty, you’ll need to fork out a 25 per cent cash down pay­ment. • STRICTER LOAN-TO-VALUE LIMIT. You can only take a bank loan of up to 50 per cent of the value of your sec­ond prop­erty. In cases where the loan ten­ure ex­ceeds 30 years or ex­tends past your 65th birth­day, it’s 30 per cent. • AD­DI­TIONAL BUYER’S STAMP DUTY (ABSD). A seven per cent stamp duty is ap­pli­ca­ble to Sin­ga­pore cit­i­zens buy­ing their sec­ond prop­erty; per­ma­nent res­i­dents (PRs) and for­eign­ers pay ABSD of 10 and 15 per cent re­spec­tively.

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