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I Chose To Pay The ABSD To Buy A Condo And Keep My HDB: Here’s Why

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Ryan J

A seasoned content strategist with over 17 years in the real estate and financial journalism sectors, Ryan has built a reputation for transforming complex industry jargon into accessible knowledge. With a track record of writing and editing for leading financial platforms and publications, Ryan’s expertise has been recognised across various media outlets. His role as a former content editor for 99.co and a co-host for CNA 938’s Open House programme underscores his commitment to providing valuable insights into the property market.

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Peter P
Peter P
1 month ago

How does one keep a HDB & purchase a condo without having to first dispose of the HDB?

Stacked Homes
Admin
1 month ago
Reply to  Peter P

You can purchase a condo if you own an HDB and fulfilled the MOP. However, the ABSD applies which is the subject of YX’s story.

Franklin Chan
Franklin Chan
1 month ago

YX could have bought it on trust under his daughter as beneficiary, once she turned 21, this condo will be legally owned by her which is the plan of YX.

This way could save his 20% ABSD which his agent could have advised him this option

Propertycher
Propertycher
1 month ago
Reply to  Franklin Chan

ABSD under trust 65% though. They may not have that much upfront cash

Stacked Homes
Admin
1 month ago
Reply to  Franklin Chan

Hey Franklin! This is only possible if no loan is required which unfortunately was not the case.

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