What should I do if I do not have the cash to pay the ABSD when purchasing a new launch condo in Singapore?

If you do not have enough cash to pay the ABSD when purchasing a property in Singapore, you can use your CPF Ordinary Account (OA) savings to pay for ABSD, especially if you are buying a new launch (uncompleted property). For new launch condos, you can typically pay the ABSD directly from your CPF OA, subject to meeting the Basic Retirement Sum requirements. For resale properties, the ABSD is initially paid in cash but you can reimburse yourself from your CPF OA after the transaction is completed.

It is important to ensure you have sufficient CPF OA funds above the Basic Retirement Sum before using it for ABSD. If you still face shortfalls, you may need to consider other financing options or selling your existing property first, so the new purchase becomes your only residential property and you may avoid or reduce ABSD.

Always consult with a qualified mortgage specialist or the CPF Board for the latest guidelines and to confirm your eligibility.