How to avoid ABSD legally

How to avoid ABSD legally?

There are various ways to avoid ABSD, including: 

1. Buy a commercial property: ABSD is not applicable for commercial properties so it makes a great option for those looking to invest.

2. Decoupling: For couples who jointly own a property, this means to transfer shares to spouse A so as to free up spouse B. Spouse B is then allowed to buy a second property under his/her name without having to pay ABSD. This is also one of the most popular options. However, you would need to take into account the various stamp duties and transaction costs of decoupling first, before deciding if this is the right option for you. 

3. Buying a property under one name: For couples without an existing property, purchasing a home under one name provides the flexibility and opportunity for your spouse to buy a separate property in future without having to pay ABSD. However, do consider if a single spouse's CPF is sufficient to pay the downpayment and monthly mortgage before doing so!

4. Sell your existing house before purchasing a new one: To avoid ABSD, you would need to enter into a contract or agreement to sell your existing house, before entering into an Option to Purchase your new house. 

5. Buy under a child's name: Get your child to buy mum/dad a new home! For this, make sure your child is 21 or older and a first-time home buyer. This way he/she would not have to pay the ABSD. However using this method means that it might restrict the child from buying a HDB or a marital home in future.

6. Purchase under a trust: If you have a lot of cash on hand, you can buy a property under your child’s name through a trust. Why do you need a lot of cash? Because banks do not lend mortgages to properties purchased under a trust. This method also means that the property belongs to your child. To purchase under a trust, your child has to be under 21 and the process would need to be done through a lawyer.

7. Dual key unit: A dual key unit is (legally) a single property that comprises two apartments side by side. It is a smart way to own two units that are connected, with the ability to provide for multi-generation living or to rent out one unit.

8. ABSD remission for a married couple, including a Singapore Citizen spouse
   1. Joint Purchase by a married couple who do not own any residential property: Full ABSD remission may be applicable to a married couple who purchases a residential property jointly. The couple must include a Singapore Citizen (SC) spouse and the property must be purchased under both names of the couple only.
   2. Joint Purchase of second residential property by a married couple: ABSD remission may be applicable to a married couple who purchases a second residential property jointly, if the remission conditions are met. The couple must include a SC spouse and the property must be purchased under both names of the couple only. The conditions under the Stamp Duties (Spouses) (Remission of ABSD) Rules are as follows:
      • The married couple did not own interest in more than one residential property at the date of purchase of the second residential property.
      • ABSD has been paid on the second residential property.
      • The first residential property (co-owned or separately owned) is sold within 6 months after
        1. the date of purchase of the second property for completed property or
        2. the issue date of the Temporary Occupation Permit (TOP) / Certificate of Statutory Completion (CSC), whichever is earlier, if the property was uncompleted at the time of purchase
      • The married couple remains married and there is no change of ownership in the second residential property at the time of sale of the first residential property.
      • The married couple has not purchased or acquired any other residential property since the purchase of the second residential property.
      • The application for refund of ABSD is made within 6 months after the date of sale of the first residential property. 

9. Buying an Executive Condo (EC): When you buy an EC you don’t have to pay ABSD upfront, unlike private condos which relies on a refund. However, you would still need to sell your current home within 6 months.

10. Foreigners with FTA: Foreigners under the Free Trade Agreement (FTAs) are given the same stamp duty treatment as Singapore citizens. Which means they don't have to pay ABSD for when buying their first residential property and enjoy lower rates of ABSD when buying second and subsequent residential properties. The countries under the FTAs include Nationals and Permanent Residents of Iceland, Liechtenstein, Norway or Switzerland and Nationals of the United States of America.

Penrose

Since Parc Esta is sold out, purchasers who were delayed to get a unit are beginning to move for Penrose (the leftover units at any rate, it was 60.3per penny sold on dispatch end of the week ). The basic explanation is vicinity to Paya Lebar Quarter (PLQ), which is one of Singapore's most up to date business center points. 

Parc Esta was opposite Eunos MRT station, which is only one prevent from Paya Lebar. Penrose is only 400 meters from Aljunied MRT station (five minutes' walk), which is likewise one prevent from Paya Lebar. 

Aljunied MRT station is additionally on the East-West line, which gives an immediate connect to Raffles Place; the CBD is only five train stops away.

The Florence Residences

The Florence Residences Developer, Logan Property was founded in 1996 as a property investment company focusing on the development of residential properties in the Guangdong-Hong Kong-Macao Greater Bay Area. In 2013, the Group was listed on HKSE with the stock code: 3380.HK. Stirling Residences is the first project developed by Logan Property following its entry into Singapore’s residential market. The 1,259-unit condo features 80 facilities like herb garden, tennis courts, reflective stream, bubble water push, stargazing lawn and more.

The Florence Residences Location. The Florence Residences enjoys an ideal location, being in walkable distance to both Hougang MRT Interchange and Kovan MRT. There are plenty of facilities and amenities nearby in Hougang Mall and Heartland Mall. There are also many primary schools and a Pat's Schoolhouse within 1 km of Florence Residences.

Online Marketing for Real Estate

One approach to supercharge your land advertising endeavors online is to construct a framework for references. You could coordinate this into your email signature with the goal that it turns out to be more uninvolved than dynamic, yet at the beginning, it doesn't damage to just request a reference. Whenever you've finished a couple of fruitful exchanges, network with your customers and request that they allude you to their companions. 

You could likewise offer something in return for references. Possibly it's an Amazon gift voucher or perhaps it's a Home Depot gift voucher, or quite possibly it's something different. Whatever it is, think of a special method to pitch this to your customers and afterward guarantee you treat those individuals the correct way.

Parc Greenwich EC / LIV @ MB

LIV @ MB is a 4-min leave the future Katong Park MRT Station (Thomson-East Coast Line) expected to finish in 2023 and 4 prevents away from the Marina Bay Financial Center (MBFC). It is likewise all around connected with significant interstates. It is only a 12 min drive to CBD and a 16 min drive to Changi Airport.

Parc Greenwich EC is very much associated with the significant street, Yio Chu Kang Road and to the CTE freeway. You can arrive at both Buangkok and Yio Chu Kang MRT in under 10 min. Or on the other hand you can essentially stroll to Fernvale LRT station. For families, Parc Greenwich will be extraordinary for your children with the numerous elementary schools nearby. You will likewise be directly at the doorstep of Greenwich V shopping center.

The Atelier Condo

The Atelier is new freehold condo launch in an excellent prime location of District 9. It is right at the doorstep of Newton MRT station which can go into both the North South MRT Line and Downtown MRT line. It is great for children applying to enter primary school, being close to many popular choices.

The Atelier Condo Showroom is at a very strategic location for families looking for popular primary schools. Both Anglo Chinese School (ACS Junior) and St. Joseph’s Institution (SJI Junior) are within 1km. Singapore Chinese Girl's Primary School (SCGS) is also within 2km of The Atelier. You will enjoy maximum convenience for shopping and work too, being able to drive to Orchard in 8 min and to CBD in 15 min.

One Bernam Condo Provence Residence Condo

One Bernam appreciates astounding network being directly at the core of the Central Business District (CBD). You can basically stroll to 3 MRT stations (Tanjong Pagar MRT, Prince Edward Road MRT and Cantonment MRT) and the many shopping centers close by. Driving will likewise be a breeze, with simple admittance to MCE and AYE from One Bernam. You can even cycle to East Coast Park, utilizing the new North-South Corridor. 

One Bernam Developer, MCC Land was established in 2010 when Metallurgical Corporation of China (MCC Group) first wandered into neighborhood property improvement. From that point forward, MCC Land has become the provincial arm in Southeast Asia, creating and dealing with various land projects in Singapore and in the area. Late activities in Singapore incorporate Provence Residence, The Canopy and Queens Peak. 

Provence Residence Condo is new launch Executive Condo (EC) planning to launch in March 2021. You will be near to the second CBD (Central Business District) in Jurong. The exciting Bukit Canberra, a sports and community hub will be opening soon right at the doorstep of Provence Residence. It will have state-of-the-art facilities, integrating a polyclinic, food centre, elderly care centre, indoor sports hall and 3km of running paths.

One Bernam offers an uncommon chance to remain in the CBD, directly at the doorstep of Tanjong Pagar MRT. Feel the energy of being at the focal point of work, way of life, and amusement. The URA Masterplan is to build up the CBD to have energetic way of life contributions after work. Well known schools like CHIJ (Kellock) will likewise be close to One Bernam.

Normanton Park Condo

Normanton Park townhouse has an uncommon and interesting area, being adjoining Kent Ridge Park with plentiful greeneries and water bodies. 9 raised and great private squares will resemble immense strong trees in the environmental factors. It will surely be an entrancing living encounter. There will likewise be shops and an eatery inside this turn of events, addressing your requirements helpfully. You will be near examination and instructive center points around there – directly at the doorstep of Science Park and furthermore only inverse of One North business park. 

Normanton Park Developer, Kingsford Development was fused in 2011 by China-based Kingsford Group. The solid Kingsford brand name is quickly relatable to extravagance homes in Asia like Kingsford Waterbay and Hillview Peak, and having breathtaking finishing. Kingsford Development won the Singapore Prestige Brand Award – Global Brands in 2019. 

Normanton Park Location. Normanton Park is very much associated with significant interstates like West Coast Highway, AYE, KPE and MCE. A short vehicle ride will likewise interface you to both the Circle MRT line and East West MRT line. There are numerous grade schools neaby and a 5 min drive will carry you to National University of Singapore. Clinical administrations are additionally only minutes away at National University Hospital and Alexandra Hospital. Head down to IKEA Alexandra in the nights, for reasonable food, furniture and family things.