How to buy your next property without ABSD

 

In this video, I will talk about a few solutions on

“How To Buy Your Next Property Without Additional Buyers’ Stamp Duty in Singapore”

The key is the word “Your” which refers to your family as a whole which I will be discussing on maximizing each individual in your family to own a maximum 1 property without ABSD

There are generally 3 ways such that we can reduce or pay no ABSD on subsequent residential property purchases as a couple or family.

Number 1 , Decoupling

As a couple, if you own one property under both name, you can consider to remove one of your names from the existing properties such that the other person can buy another property as his or her first property.

There are some potential costs to be taken into consideration in decoupling:-

* the Transferor may be subject to Seller’s Stamp Duty on the share transferred if the Transferor purchased the property less than 3 years ago;

* ABSD is payable on the value of the share transferred if the Transferee has more than one property;

* if the decoupling transaction is done within the lock-in period for the bank loan, then the bank may charge a penalty;

* if the Transferor had initially used CPF funds in purchasing the property, the CPF funds and accrued interest have to be refunded into his CPF account. Usually, the Transferee would obtain a fresh loan to pay for the purchase of the share transferred in his favour. From the proceeds of the sale, the Transferor would refund his CPF monies, pay for his share of the outstanding bank loan and retain the balance. The fresh loan obtained by the Transferee should be in a quantum that is also sufficient to refinance the Transferee’s own share of outstanding bank loan; and

* the total legal costs will be about $5000 to $6000.

Number 2 ; Purchase Under Trust

Another way of not paying ABSD as a family, is to purchase the next property on trust for a beneficiary (Usually your children) with zero property count. If the beneficiary has zero property count, no ABSD is payable.

Buying under trust means one of the parents would appoint themselves as trustees who have legal ownership and control of the property.

As trustees, they have duties to manage and administer the property for the benefits of the beneficiary.

There are benefits to this arrangement.
* The property held on trust is shielded from division upon the divorce of the trustor. i.e. the person who establishes the trust. This means the property set aside in the trust for the child will never be subject to division on the trustor’s divorce. This protection cannot be secured by a will, which can be revoked any time.

* It is also shielded from division upon the divorce of the beneficiary. This is useful for those who wish to give their assets to a child with assurance that the gift will not be distributed to unintended third parties if the child eventually marries and divorces.

* The beneficiary may be a minor i.e. below 21 years of age. There is no restriction on the minimum age of the beneficiary.

* The trust need not to be registered and hence confidentiality may be maintained.

* This arrangement is inexpensive.

Legal costs is about $2,500 onwards depending on the terms of the trust.

Number 3, Plan ahead, buy in the right name and shareholding

Whenever it is financially viable, properties may be bought in sole names.

If this is not possible (for example, the banks require justification of higher income or the CPF monies of a co-purchaser is required for down payment or monthly instalment payment), then consider purchasing your property as tenants in common in the proportion of 99% to 1%.

In future, if the 1% owner wishes to buy a second/subsequent property, the decoupling cost for the 1% would be insignificant.

Meanwhile, being the 1% owner does not restrict the amount of the 1% owner’s CPF funds that can be used for the purchase. This means that the 1% owner can use his CPF funds in a sum exceeding his 1% share in the property.

If you have intentions to enter the property market, you are welcome to contact me to arrange for a detailed financial assessment and to discuss what options are possible for your family

DISCLAIMER:

ALL INFORMATION PRESENTED IN THE VIDEO ARE BASED ON PERSONAL OPINIONS AND ALVINTAYSINGAPOREPROPERTYADVISOR IS NOT LIABLE FOR ANY LOSS OR EXPENSES WHATSOEVER RELATING TO INVESTMENT DECISIONS MADE BY THE AUDIENCE. THE IDEAS PRESENTED HERE ARE FOR REFERENCE AND EDUCATIONAL PURPOSE ONLY. ALL COPYRIGHTS RESERVED.

(Dated As of 2/1/2020)
__________

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Meyer Mansion condo launch on Sept 13 by Guocoland

[vc_row][vc_column][vc_single_image image=”12844″ img_size=”full” alignment=”center”][vc_empty_space][vc_column_text]SINGAPORE – Developer Guocoland has started its freehold Meyer Mansion condominium Sales on Sept 13.[/vc_column_text][vc_column_text]You may like : Only Clementi Condo for Sale in 2019 – Parc Clematis[/vc_column_text][vc_empty_space height=”8px”][vc_column_text]

GuocoLand bought the former Casa Meyfort residential site in a collective sale for $319.88 million last year. That works out to about $1,580 psf per plot ratio, including an estimated development charge of $57.2 million.

[/vc_column_text][vc_column_text]You may also like : Whistler Grand next to upcoming CBD[/vc_column_text][vc_empty_space height=”8px”][vc_column_text]The project is about 450m via an underpass from East Coast Park, with Changi Airport a 10-minute drive away. Katong Park MRT station on the Thomson-East Coast MRT Line, set to open in 2023, will be a six-minute walk away.[/vc_column_text][vc_column_text]Read more of Meyer Mansion by Guocoland at Meyer Road[/vc_column_text][vc_video link=”https://youtu.be/0aCx-oJfr80″][vc_column_text]Read Also : Latest Updated New Launch in the WEST [/vc_column_text][/vc_column][/vc_row]

SG#06 West Singapore Property Market Updates (January 2020 Edition)

 

Singapore West Side Property Market Updates

(January Edition) ........
__________


RESALE TRANSACTION IN THE WEST
(Data from 99.co from 15th Nov – 14th Dec)


District 5 - Buona Vista / West Coast / Clementi (14 Sales)
District 21 - Clementi Park / Upper Bukit Timah (30 Sales)
District 22 - Boon Lay / Jurong / Tuas (9 Sales)
District 23 - Bukit Batok / Bukit Panjang / Choa Chu Kang (38 Sales)


District 5 - Average Price $1,195 PSF
District 21 - Average Price $1,304 PSF
District 22 - Average Price $1,078 PSF
District 23 - Average Price $927 PSF


The Cascadia (Freehold Development) at 921 Bukit Timah Road Singapore(589624) contribute 5 Sales in District 21 with average $1592 PSF. It was TOP around 2010 and is 0.48km away from King Albert Park Station.


1 Bedroom sold around S$900k
4 Bedroom sold around S$4.68M

-----------

New Launch Development in West

LeQuest
https://www.propertyfactsheet.com/properties/le-quest-mixed-development-condo-at-bukit-batok-ave-6/

Whistler Grand
https://www.propertyfactsheet.com/properties/whistler-grand-condo-west-coast-vale-singapore/

Parc Clematis
https://www.propertyfactsheet.com/properties/parc-clematis-at-jalan-lempeng-clementi-by-singhaiyi/

View@Kismis
https://www.propertyfactsheet.com/properties/view-at-kismis-upper-bukit-timah-area/

Kent Ridge Hill
https://www.propertyfactsheet.com/properties/kent-ridge-hill-residences-by-oxley-holdings-official-listing/

Midwood
https://www.propertyfactsheet.com/properties/the-midwood-condo-at-hillview-rise-by-hong-leong-holdings/

Mont Botanik
https://www.propertyfactsheet.com/properties/mont-botanik-residence-at-hillview-freehold-at-leasehold-price%e2%80%8e/

Dairy Farm Residences
https://www.propertyfactsheet.com/properties/dairy-farm-residences-by-uel-at-dairy-farm-road/

For 1 Bedroom entry Price
Whistler Grand S$698640
Parc Clematis S$810000
Kent ridge Hill S$877000
Midwood S$746000
Mayfair S$999000


For 2 Bedroom Entry Price
Whistler Grand S$868180
View @ Kismis S$976000
Dairy Farm Residences S$969309
Midwood S$985000
Parc Clematis S$1045000
Mont Botanik S$1157600
Kent ridge Hill S$1320000
Mayfair S$1417000


For 3 Bedroom Entry Price
Le Quest S$1276000
Whistler Grand S$1384160
Parc Clematis S$1317000
View @ Kismis S$1339000
Dairy Farm Residences S$1390653
Midwood S$1396000
Mont Botanik S$1635400
Kent ridge Hill S$1567000
Mayfair S$1953000


For 4 Bedroom Entry Price
Le Quest S$1727000
Whistler Grand S$1658340
Parc Clematis S$1968000
Dairy Farm Residences S$1889811
Midwood S$1936000
Kent ridge Hill S$2611000
Mayfair S$2539000


For 5 Bedroom Entry Price
Whistler Grand S$1855050
Parc Clematis S$2608000
View@Kismis S$1978000
Kent ridge Hill S$2889000


__________

DISCLAIMER:

ALL INFORMATION PRESENTED IN THE VIDEO ARE BASED ON PERSONAL OPINIONS AND ALVINTAYSINGAPOREPROPERTYADVISOR IS NOT LIABLE FOR ANY LOSS OR EXPENSES WHATSOEVER
RELATING TO INVESTMENT DECISIONS MADE BY THE AUDIENCE. THE IDEAS PRESENTED HERE ARE FOR
REFERENCE AND EDUCATIONAL PURPOSE ONLY. ALL COPYRIGHTS RESERVED.

__________

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#January2020Edition #WestSingapore #PropertyMarketUpdates

The Hyde at Balmoral launching Soon

[vc_row][vc_column][vc_single_image image=”12766″ img_size=”full” alignment=”center”][vc_empty_space][vc_column_text]The Hyde is a Freehold condominium located in the prestigious residential area District 10, located at 11 Balmoral Road. The Hyde is located near Newton MRT which provides easy access to the North-South MRT line and the Downtown line. It is also just an one-MRT stop away or just a few minutes’ drive from the Orchard Shopping Belt, making The Hyde’s location more valuable.[/vc_column_text][vc_column_text]You may like : Only Clementi Condo for Sale in 2019 – Parc Clematis[/vc_column_text][vc_empty_space height=”8px”][vc_column_text]

As the saying goes, health is wealth. The Hyde is near Novena Medical Hub which provides one of the best health care facilities in Singapore. The Hyde’s premium location will be extremely crucial and important if there is an emergency. The Hyde is also surrounded by many elite schools which are just a stone throws away from Raffles Girls’ School, Singapore Chinese Girls’ School. Other than that, Lasalle College of the Arts and ACS Junior School are also in the vicinity.

[/vc_column_text][vc_column_text]You may also like : Whistler Grand next to upcoming CBD[/vc_column_text][vc_empty_space height=”8px”][vc_column_text]

It will be launching Soon.

[/vc_column_text][vc_column_text]Read more of The Hyde at Balmoral Road[/vc_column_text][vc_video link=”https://youtu.be/zoi2urIP19Q”][vc_column_text]Read Also : Latest Updated New Launch in the WEST [/vc_column_text][/vc_column][/vc_row]

Neu at Novena sees huge take up rate of 51% of units on launch day

[vc_row][vc_column][vc_single_image image=”12711″ img_size=”full” alignment=”center”][vc_empty_space][vc_column_text]Neu @ Novena is a rare freehold development right in the heart of District 11 of Newton, living within proximity to the rich and elites. Neu at Novena is designed only for the most discerning home owners who wants to have a perfect home filled with unforgettable and sweet memories from the moment you return home. The Pullman name itself is a attestment to its quality build and design, a “Work Hard, Play Hard” theme. The residents can enjoy a full condominium facilities from the 50-meter lap pool, dip pool pods, sky decks, Jacuzzi, Spa, tennis court and a full suite concierge.[/vc_column_text][vc_column_text]You may like : Only Clementi Condo for Sale in 2019 – Parc Clematis[/vc_column_text][vc_empty_space height=”8px”][vc_column_text]

On Oct 19, the first day of sales at NEU at Novena, 44 units were taken up. This means that 51% of the 87 units within the boutique, 17-storey development at Moulmein Rise has been sold. Units sold are said to range from $2,450 to $2,850 psf

[/vc_column_text][vc_column_text]You may also like : Whistler Grand next to upcoming CBD[/vc_column_text][vc_empty_space height=”8px”][vc_column_text]

The project is developed jointly by Roxy-Pacific, Macly Group and construction company, Lim Wen Heng Holdings.

[/vc_column_text][vc_column_text]Read more of Neu at novena, Freehold at Moulmein Rise[/vc_column_text][vc_video link=”https://www.youtube.com/watch?v=tQTbeP5Quvw&feature=emb_logo”][vc_column_text]Read Also : Latest Updated New Launch in the WEST [/vc_column_text][/vc_column][/vc_row]

SG#05 West Singapore Property Market Updates (December 2019 Edition)

 

Singapore West Side Property Market Updates

(December 2019 Edition) ........
__________

RESALE TRANSACTION IN THE WEST
(Data from 99.co from 15th Oct 2019 - 14th Nov 2019)

District 5 - Buona Vista / West Coast / Clementi (21 Sales)
District 21 - Clementi Park / Upper Bukit Timah (24 Sales)
District 22 - Boon Lay / Jurong / Tuas (20 Sales)
District 23 - Bukit Batok / Bukit Panjang / Choa Chu Kang (23 Sales)

District 5 - Average Price $1,232 PSF
District 21 - Average Price $1,446 PSF
District 22 - Average Price $1,057 PSF
District 23 - Average Price $994 PSF

J-Gateway (99 Years Leasehold) at 6 Gateway Drive contribute 4 Sales in District 22 with average $1760 PSF. It was TOP around 2016 and is 0.36km away from Jurong East Station.

1 Bedroom sold around S$888k - S$890k
3 Bedroom sold around S$1.52M - S$1.59M
__________

New Launch Development in West

LeQuest
https://www.propertyfactsheet.com/properties/le-quest-mixed-development-condo-at-bukit-batok-ave-6/

Whistler Grand
https://www.propertyfactsheet.com/properties/whistler-grand-condo-west-coast-vale-singapore/

Parc Clematis
https://www.propertyfactsheet.com/properties/parc-clematis-at-jalan-lempeng-clementi-by-singhaiyi/

View@Kismis
https://www.propertyfactsheet.com/properties/view-at-kismis-upper-bukit-timah-area/

Kent Ridge Hill
https://www.propertyfactsheet.com/properties/kent-ridge-hill-residences-by-oxley-holdings-official-listing/

Midwood
https://www.propertyfactsheet.com/properties/the-midwood-condo-at-hillview-rise-by-hong-leong-holdings/

Mont Botanik
https://www.propertyfactsheet.com/properties/mont-botanik-residence-at-hillview-freehold-at-leasehold-price%e2%80%8e/

Dairy Farm Residences
https://www.propertyfactsheet.com/properties/dairy-farm-residences-by-uel-at-dairy-farm-road/

For 1 Bedroom entry Price
Whistler Grand S$698640
Parc Clematis S$810000
Kent ridge Hill $802000
Midwood S$746000
Mayfair S$992000

For 2 Bedroom Entry Price
Whistler Grand S$899540
View @ Kismis S$976000
Dairy Farm Residences S$969309
Midwood S$985000
Parc Clematis S$1050000
Mont Botanik S$1094200
Kent ridge Hill S$1165000
Mayfair S$1417000

For 3 Bedroom Entry Price
Le Quest S$1276000
Whistler Grand S$1356280
Parc Clematis S$1317000
View @ Kismis S$1339000
Dairy Farm Residences S$1390653
Midwood S$1396000
Mont Botanik S$1571800
Kent ridge Hill S$1567000
Mayfair S$1953000

For 4 Bedroom Entry Price
Le Quest S$1727000
Whistler Grand S$1658340
Parc Clematis S$1968000
Dairy Farm Residences S$1889811
Midwood S$1936000
Kent ridge Hill S$2611000
Mayfair S$2539000

For 5 Bedroom Entry Price
Whistler Grand S$1855050
Parc Clematis S$2618000
View@Kismis S$1978000
Kent ridge Hill S$2842000

__________

DISCLAIMER:

ALL INFORMATION PRESENTED IN THE VIDEO ARE BASED ON PERSONAL OPINIONS AND ALVINTAYSINGAPOREPROPERTYADVISOR IS NOT LIABLE FOR ANY LOSS OR EXPENSES WHATSOEVER
RELATING TO INVESTMENT DECISIONS MADE BY THE AUDIENCE. THE IDEAS PRESENTED HERE ARE FOR
REFERENCE AND EDUCATIONAL PURPOSE ONLY. ALL COPYRIGHTS RESERVED.

__________

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AlvinTay Video Production Using
-Iphone XR
-Moza Mini S Essential Smart Gimbal
-LumaFusion Video Editing Iphone Application
-Movavi Video Editor
-Teleprompter

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HUTTONS D&D CUT
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#December2019Edition #WestSingapore #PropertyMarketUpdates

VLOG#02 Huttons Dinner & Dance 2019 "Game On" by The Tremendous Team aka TTT

 

2019 Huttons Dinner & Dance

Having a fun night with the team TTT, MTD, Huttons & colleagues at Huttons DnD 2019 - Game On

Great Event in Marina Bay Sand Singapore before we end the year and usher in 2020.

"We Work Hard and Play Hard Too"

Special Thanks to Tony for the Sponsorship of the Tickets and all the Tables Participant for Dressing up :)

Once again TTT has won the Best Dress
__________

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#Huttons #TTTPower #Singapore