2nd property

[micollh]

my fren told me to look for condo that;s near TOP … if anyone drop their unit, i can get it cheaper… is there such thing ?

[hquek]

huh? i was told before by a friend to buy property during launch. then once TOP, sell and make money (that’s before the rule below came into effect).


BTW, there were some rules concerning subsales. If one disposes of a property within 3 years of purchase and makes money, the profits are liable for tax (on a descending scale based on number of years owned).

[pirate]

hquek:

If one disposes of a property within 3 years of purchase and makes money, the profits are liable for tax (on a descending scale based on number of years owned).

There is a seller stamp duty. And it applies whether you make a profit or not. It is on a sliding scale depending on how many years before resale.

[Vinbin]

Now even TOP also cant sell,must wait 4 years.If within 4 yrs sell,must pay stamp duty which is quite alot. 1st yr sell 16%,2nd yr 12%,3rd yr 8%,4th 4%.

[dagong99]

Vinbin:

Now even TOP also cant sell,must wait 4 years.If within 4 yrs sell,must pay stamp duty which is quite alot. 1st yr sell 16%,2nd yr 12%,3rd yr 8%,4th 4%.

The '4 years' starts from the date of S&P, so if TOP after 3-4 years, you should be able to sell without or mininal the stamp duty.

[cherrygal]

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[SHTAM]

peapot:

Anyone here invested in 2nd property? I would like to know what people think of the market now. If you have invested in or before please share, not just in spore perhaps in Malaysia or other country? Is it wise to invest now?

Im interested, but impaired temporary by ABSD :stompfeet:

[Coolkidsrock2]

Out of curiosity, are the overseas properties held via investment vehicles or personal names? How much do the lawyers charge for advising on the legal and taxation framework governing the properties?

[3Boys]

Coolkidsrock2:

Out of curiosity, are the overseas properties held via investment vehicles or personal names? How much do the lawyers charge for advising on the legal and taxation framework governing the properties?

It's different for different countries.

[Coolkidsrock2]

Agree but am trying to understand if in general, do buyers of overseas properties hold it in their personal names or via investment vehicles.


I had spoken to buyers of US properties and they do not seem to be aware of the legal and taxation framework governing their purchase.