Want to invest in additional property but put off by ABSD?

[PropAdvisor]

Want to invest in additional property but put off by ABSD?

As a Singaporean, you have to pay 7% ABSD (Additional Buyer's Stamp Duty) for the purchase of your 2nd property and 10% for the 3rd and subsequent property. For PR, it is 10% for 2nd property and subsequent property.

For simple calcuation, let's use a ball park figure of $1 MILLION for a condo in Singapore. If you are a Singapore Citizen, the ABSD amount is $70K for a second property and you have to pay it in cash.
For second property, the minimum upfront cash payment for the downpayment is 25% as regulated by Monentary Authority of Singapore (MAS), which is $250K for a $1 MIL property.
Thus, the amount of cash you need to pay upfront is $320K!

In addition, if you take a bank loan in Singapore, you are subjected to the regulation of TDSR (Total Debt Servicing Ratio) as imposed by MAS.
Under TDSR, your total loans including current monthly home loan payment and other loans such as car loan and personal loans cannot exceed 60% of your gross monthly income.


With the amount of $320K, you can buy many overseas properties in many countries!
Why do I say many overseas properties?
This is because for property, we can leverage on bank loans and buy a property by paying only the downpayment.
For overseas property, you can take a bank loan from banks outside Singapore and you are not subjected to TDSR.

Click to find out more about investing in an overseas property in a developed country!
http://www.propertyinvestors.info/pr...re-manchester/

[Arcachon]

Buy what you know, if you don't know better don't buy.

Since 2013 TDSR, property selling now is adjusted to zero ABSD if you know what is going on.

[teddybear]

Zero ABSD because property developer asborbs?
Really zero?
Mmm.........., more like add on ABSD to selling price, then say give you discount to absorb ABSD for you???????? Otherwise how to explain OCR private property price at THOUSAND YEARS historical HIGH price??????????

Buy what you know, if you don't know better don't buy.

Since 2013 TDSR, property selling now is adjusted to zero ABSD if you know what is going on.

[Arcachon]

Zero ABSD because property developer asborbs?
Really zero?
Mmm.........., more like add on ABSD to selling price, then say give you discount to absorb ABSD for you???????? Otherwise how to explain OCR private property price at THOUSAND YEARS historical HIGH price??????????

What do you see?

[PropAdvisor]

It's official - Manchester is at the very centre of Britain's property boom!
The rise in house price growth outstrips even sought-after London neighbourhoods!
As reported on 24 Mar 2017 in Manchester Evening News, the regional newspaper of Greater Manchester.

Introducing Burlington Square Manchester, a Central Manchester Residential Development. Burlington Square Manchester is located in the heart of Corridor Manchester, Manchester's Innovation District with Healthcare, Education and Technology Hubs such as :
Healthcare - Manchester Royal Infirmary, Royal Eye Hospital, St Mary's Hospital
Education - University of Manchester, Manchester Metropolitan University, Manchester Business School, Royal Northern College of Music
Technology Hubs - Manchester Science Park, National Computing Centre.

Some facts about Corridor Manchester:
Hospital Campus in Corridor Manchester serves over 1 million patients visits per year, employing 12,000 people.
Corridor Manchester currently employs 60,000 people (17% of Manchester’s workforce).
By 2025, the workforce is projected to increase to 74,000 strong.
70,000 students in the institutes of higher learning in Corridor Manchester.
By 2025, it’s estimated that the Corridor Manchester will generate a GVA of £4.7 billion. Capital Investment is estimated to rise by £2.6 billion over the next 10 years.

Ready and high-quality tenant pool for property investors! Click to find out more!
http://www.propertyinvestors.info/pr...re-manchester/

[Tulip09]

Despite ABSD our new launches are still selling well. Perhaps over time it will become the ' new normal'. Investing overseas is fine if one is familiar with that country but otherwise I think trusting someone else to manage it is a concern for me. Also forex risks. Few currencies are as stable as our Sing dollar. Moreover with our population white paper, is it likely prices won't increase going fwd? I guess that's why there is demand locally.