Senior
Global recession is coming....
They should be happy that they are not allowed to because HDB asset appreciation, strongly advocated by Mr Lee Kuan Yew, has died together with him!
Originally Posted by Arcachon
Senior
Note: While there is no income ceiling for buying an HDB resale flat, there are income ceilings for CPF Housing Grants and HDB housing loans.
http://www.hdb.gov.sg/cs/infoweb/res...bility-schemes
Last nail to the HDB coffin.
Ultimate Underdog
The thing with HDB now is cannot decouple so easily so it will be extremely difficult to go through this path for multiple property ownership.
Buy a 1 mil private property on top of owned HDB must pay 70K ABSD. If the HDB only can sell for 400K, the tax will be 17.5% of the HDB or about three years' rent.
Whilst some might give up owning private properties, some might choose to give up on HDB to pursue multiple local properties.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Senior
Cannot for those already couple, need to do decouple when signing the S&P.
The fastest way is to buy resale with decouple, 5 years MOP buy private with 7 % ABSD.
Time wait for no man.
Ultimate Underdog
Another way is to buy a first private, pay for a few years then when ready get another private.
If decouple resales from the start and use single income to buy private, don't really need to pay ABSD.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
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