Anonymous

01 Mar 2021

∙

Can we buy a condo while waiting for our BTO to be ready?

My wife and I are currently servicing a bank loan for our resale flat. We have balloted for a BTO and is estimated to be ready around 2025. Can we buy a condo while waiting for our BTO to be ready?

I understand that we need to hit the 5 years MOP before we are allowed to buy a private property. Our resale flat will hit 5 years MOP next year. So can we buy a condo while waiting for our BTO? Thank you!

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Zac

01 Mar 2021

Noob at Idiots Invest

I'm not sure you'll be allowed to own a private property after you've balloted for your BTO. One of the pre-requisites for applying for BTO is that you cannot already own any property, or you'll sell your property within six months of owning the BTO. I don't think that requirement will suddenly be removed after you have successfully applied for a BTO.

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