Here at Stacked Homes we get many questions every week on Singapore housing. So, sharing is caring right? We hope you find this resource useful, if you do have any questions that you would like answered you can always reach out to us at stories@stackedhomes.com!
Reader questions like the one above rarely have a clear-cut answer. The "right" move depends on your finances, timeline, long-term goals, and how much downside you're prepared to accept if things don't go to plan.
That's the hardest part of any property decision, not finding information, but understanding what it means for your situation before committing.
Over time, that's also why we decided to work with agents who shared the same data-driven and advisory-led approach behind our editorial, consultants who could help readers think through decisions more objectively, rather than simply push transactions.
Today, the team has worked with more than 2,000 clients across over $5B in property transactions.
Question 1:
If i buy a resale Executive Condominium that is 7 years old but less than 10 years, am i able to rent it out immediately or do i have to wait for the 5 year MOP?
Answer:
Yes, an Executive Condominium that has fulfilled its 5 year MOP is considered semi privatised and can be rented out. It is only after 10 years that the EC is considered fully privatised and can be sold to foreigners.
Question 2:
If i bought a new condo that has not been built finish, do i incur SSD from my purchase date or only from my TOP date?
Answer:
For new condo purchases, the SSD is calculated from the exercising of the Sales and Purchase Agreement. So as of 11 March 2017, as long as it has been more than 3 years there will be no SSD payable.
Question 3:
I am moving to Singapore for 3 months for an exchange, am i able to rent an apartment here for 3 months?
Answer:
If you are looking at a period of 3 months, you will be able to rent only a private property as that has a minimum period of 3 months. For HDB (public housing), the minimum rental period is 6 months. However, short term rental is harder to find in general as most landlords are looking at longer term lease to minimise gaps in the rental periods.
Question 4:
Hi, is it possible to pay for downpayment for a new condo with CPF? the full downpayment?
Answer:
If you are looking at a new condo, it is a 20% 25% deposit, of which at least 5% must be paid in cash
Question 5:
Hello can i buy a condo if i have already one under my name and then sell the first one? Will i be able to get back the tax money?
Answer:
ABSD remission is a special concession given to only Singaporean married couples. So ABSD remission is applicable if it is a married couple with at least one Singapore citizen spouse and you sell your first property within 6 months after the date of purchase/TOP/CSC. Also note that the property must be purchased under both names of the couple only and both spouses must not own any residential property. If you like to read up more on ABSD remission you can do so here.
So that is it for our first series on Singapore housing questions! Again, if you have any more questions you can reach out to us at stories@stackedhomes.com!
The questions our readers send in are rarely about the market in general. They’re about a home they’re considering, a timeline they’re working towards, or a trade-off they’re trying to make.
That’s where we usually help readers go a step further, applying the same research and decision-making framework behind our articles to their own situation.
If you’re facing a similar decision and would like someone to help you think it through before you commit, you can book a one-to-one consultation here.
And if you simply have a question or want to share a thought, feel free to write to us at stories@stackedhomes.com. We read every message.
1 Comments
Hello stacked homes
I enjoyed reading your articles including sound advices 🙂
Well, I am 48 years looking to invest in existing & relatively young 2 bedder condo with about 1 mil budget (may borrow 300k) with criteria 1) that it can easily be tenanted & 2) with potential capital upside in next 7-10 years when NEW mrt is built near it? 3) preferably located north and/or west area of sgp?
Can you pls advise? Thanks a lot.