I'm looking at subsale property with price of 700K +/-

Based on current MOT waiver, the price is very unfavorable for me. There's no any sort of waiver available that I have to pay full MOT even as first time buyer.

Can anyone clarify this, thank you

For 700k property buying via the secondary market (subsale), it doesn't matter actually before or after Jun. Now or end of year is the same.
You wont be receiving any stamp duty waiver at all.

For property priced above 500k, the government initiative is to help developer clear out their unsold stock in hand / developer units. If you are getting such property direct from developer, then only will have some incentive from the stamp duty waiver.

Woah wait a sec, I have not looked at it in detail but dors this means the stamp duty exemptions for properties up to 1 mio till end June only applies to developer units?

Yes. For first time buyers.

I see.. clear now..
Yes... unfortunately.. under a situation where loan is not a problem, purchasing a 700k subsale and 1mil developer unit require the same down payment.. aiks..

I have been running around with the idea that the exemptions also applies to subsales so long as its first property and done before 30 June... How gravely mistaken I was. The media prints didn't emphasis much on this.

So no reason to rush a subsales 700k unit before 30th June.

The only reason to rush for subsale is preferred unit sold to someone else soon hahaha

I'm actually doing it right now. I and the seller actually agreed to to do S&P agreement stamping after 1st of July to get the exemption. But all the process (booking, loan application, s&p drafting) is done beforehand.

edit* plus waiting for the consent from authorities (since the properties is leasehold) will take months anyway.

This post has been edited by lotter92: Mar 28 2019, 10:19 AM

What kind of exemption is that?

Sorry forgot to mention. Stamp duty exemption as the properties is below 500k

Yeah same. Many doing the same early this year. Back dated the signing to Dec 18. Coz stamp duty waiver for below 500k subsale property is still valid until 31 Dec 18.