Executive Condominium (EC) Eligibility
Am I qualify to own an Executive Condominium (EC)?
What are the eligibility conditions?
- Singapore Citizen + Singapore Citizen ()
- Singapore Citizen + Singapore Permanent Resident ()
- Singapore Citizen + Foreigner Spouse ()
- Singapore Citizen + Foreigner Spouse + Singapore Citizen Child ()
- At least 21 years old
- Or at least 35 years old, if applying under the Joint Singles Scheme
- Public Scheme
- Fiancé/Fiancée Scheme
- Orphans Scheme
- Joint Singles Scheme (at least 35 years old for both applicants)
- Your household combined income MUST NOT exceed the $14,000 income ceiling
- You do not own other private property overseas or locally, or have not disposed of any within the last 30 months
Ownership of HDB
- First Timer Buyer () (Enjoy Up to $30,000 Grant)
- Enjoyed more than TWO subsidized Flat () Not Eligible
- Second Timer Buyer () Fulfilled Minimum Occupation Period (M.O.P) & bought BTO flat once before, or resale HDB flat with housing grant
For ECs buyers that owned a HDB flat currently, you can purchase a new EC as long as you can afford the initial down payment of 5% + 15% and the stamp duty (about 3%). You will be required to sell you HDB flat within 6 months from the TOP of the new EC.
For ECs buyers that owned a HDB flat currently but having shortage on the 15% down payment, this is common as your CPF money is currently still locked up in the HDB flat, you can sell your HDB flat and rent a place or stay with any relatives while waiting for your EC to be build.