5 FACTS YOU SHOULD KNOW ABOUT BUYING THAT SECOND PROPERTY

Your HDB flat has finally completed its Minimum Occupation Period (MOP) of five years. Of course, you’re not planning to sell it and cash in. Instead, you’re going for the Singapore Dream of owning multiple properties. You plan to keep it and buy a second property. However, before you gleefully count your rental income, here are five facts you should know.

1. THE BASICS

We shouldn’t have to say this, but you’ll be surprised that some people are blithely blur about it. When we say ‘buy a second property’, we mean private property. We’ve actually heard several people boast that they intend to flip their Build-to-Order (BTO) flat for a handsome profit and buy two flats. Uh, no. Everyone is allowed to own only