Executive Condominium

Eligibility
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Source: www.hdb.gov.sg
 
 
Eligibility Conditions

       1.    Citizenship
  • You must be a Singapore Citizen
  • Your family nucleus must comprise at least another Singapore Citizen or Singapore Permanent Resident.

       2.    Age
  • You must be at least 21 years old at the time of application
  • If you are buying an Executive Condominium (EC) under the Joint Singles Scheme, you must be at least 35 years old

       3.    Family Nucleus
               You must form a proper family nucleus under one of the following schemes:
Type of Scheme

Public




Fiancé/Fiancée


Orphan




Joint Singles
Family Nucleus Requirement

You, the applicant and;
    - Your spouse, and children (if any)
    - Your parents, and siblings (if any)
    - Your children under your legal custody, care and control (for divorced)

You, the applicant and your fiancé/fiancée
    > Additional Information

You, the applicant and;
    - Your unmarried siblings, or
    - Another single unrelated orphan
    > Additional Information

You, the applicant and another single person
    > Additional Information

       4.    Income Ceiling
               Your average gross monthly household income must not exceed $12,000.
              > More information on the income guidelines

       5.    Special Requirement for Undischarged Bankrupts
                Undischarged bankrupts need to seek the Official Assignee (OA)'s consent if they are applying for an EC.
                However, they do not need to seek the OA's approval to be listed as an occupier.

       6.   Ownership in Private Property              
You, your spouse, any occupiers listed in the Application Form or their spouses must not own or dispose or have an estate or interest in any other flat, house, building or land*
  • Within 30 months before the date of application, and
  • Between the application date and the date of taking possession of the EC
* includes but not limited to:
  • HUDC flats (Privatised and Non-Privatised)
  • Properties acquired by gift
  • Properties inherited as beneficiaries under a will or as a result of the Intestate Succession Act
  • Private properties
  • Properties owned/acquired/disposed through nominees regardless of properties location
       7.    Owners/Ex-owners of HDB flats / DBSS flats / EC units
Each eligible Singaporean household can buy the following housing unit only twice: 
  • a flat from the HDB;
  • a resale flat with the CPF Housing Grant*;
  • a DBSS flat from developer;
  • an EC unit from developer.
       *Only applicable for first-timer applicants

If you have already bought two housing units, you will not be eligible to apply or be listed as an essential occupier in an application.
 
Household Status

       1.    First-timer Applicants
       You and the essential family members listed in the application for purchase of the flat must not:
  • Be the owners of a flat bought direct from HDB, a DBSS flat or an Executive Condominium bought from the developer
  • Have sold a flat bought direct from HDB, a DBSS flat or an Executive Condominium bought from the developer
  • Have received the CPF Housing Grant for the purchase of an HDB resale flat
  • Have taken other forms of housing subsidy (for example, benefitted under the Selective En bloc Redevelopment Scheme, privatisation of HUDC estate etc)
  • Higher Quota of the EC Supply for First-time Applicants during Initial Launch Period: From 2 March 2012, developers will set aside 70% of the supply for first-timers during the initial launch period.

       2.    Second-timer Applicants
       You or the essential family members listed in your application have owned/sold or are currently owners of:
  • Any HDB flat that was bought from HDB, or
  • Any resale flat that was bought under the CPF Housing Grant Scheme, or
  • A DBSS flat or an EC bought from the developer, or
  • Have enjoyed other forms of housing subsidy (for example, enjoyed benefits under the Selective En bloc Redevelopment Scheme, privatisation of HUDC estate etc.)
Payment of Resale Levy (new measure announced on 9 Dec 2013)

Second-timers who apply for new EC projects where the land sale is launched on or after 9 Dec 2013, including those where tenders were launched earlier but have not closed by 9 Dec 2013, i.e. Westwood Avenue, Canberra Drive and Anchorvale Crescent, will have to pay a resale levy. 

However, second-timers are not required to pay the resale levy if they apply to buy EC units in projects that were launched before 9 Dec 2013. More information on the tender launch dates for EC land sales can be found in the Residential Development List > Executive Condominium (EC).
 
Time Bar

       1.    Existing Owner or Ex-Owner of an HDB Flat
Are you, your spouse or any of the occupiers listed in the application an existing owner or ex-owner of a:
  • Flat bought directly from HDB
  • DBSS flat bought from the developers
  • Resale flat bought under the CPF Housing Grant Scheme
If you belong to any of the above categories, you may apply to buy an EC on condition that a 5-year period (excluding any period of subletting of the whole flat) has lapsed from the *date of taking possession of the flat to the date of application for a new EC.

* The date of taking possession refers to following dates (whichever is applicable):
  • Date of key collection, for flats that are bought direct from HDB
  • Date of resale completion, for purchase of resale flats from the open market bought with the CPF Housing Grant
  • Date of transfer at market value of the flat bought with CPF Housing Grant
  • Date of key collection for EC/DBSS flats bought from the developer

       2.    Ex-Owner of an EC
Are you, your spouse or any of the essential occupiers listed in the application an ex-owner of an Executive Condominium bought directly from the developer? If yes, you would need to meet a 5-year period from the date of taking possession of the earlier Executive Condominium.

30-Month Period

In addition, you need to wait out a 30-month period from the effective date of disposal (i.e., date of legal completion of the sale of their Executive Condominium, evidenced by the Notice of Transfer or such other documentary evidence as HDB may require) of the Executive Condominium before you can apply to buy another Executive Condominium directly from the developer.

       3.    Essential Occupiers
You or any person listed the application must not be currently listed as an essential occupier of:
  • An existing HDB flat bought directly from HDB,
  • A DBSS flat bought under the CPF Housing Grant Scheme, or,
  • A resale flat bought under the CPF Housing Grant Scheme

However, an essential occupier may apply or be included in an application only if he has stayed in the existing flat for 5 years from the *date of taking possession of the existing flat to the date of application for an EC.

       * The date of taking possession refers to:
  • The date of key collection, for flats that are bought directly from HDB
  • The date of resale completion, for purchase of resale flats from the open market bought with the CPF Housing Grant
  • The date of transfer at market value of the flat bought with CPF Housing Grant
  • The date of key collection for Executive Condominium/DBSS flats bought from the developer, whichever is applicable.

       4.    Divorcees
Within three years from the date of the divorce, only one party in the divorce can own one of the following housing units:
  • a flat bought directly from the HDB
  • a DBSS flat / EC bought directly from a private developer
  • a resale flat bought from open market under the CPF Housing Grant Scheme

If you have an existing matrimonial home, which is one of the above, and that home is retained by your ex-spouse, you may apply to buy or be listed as an essential occupier in any of the above housing unit only three years after your date of divorce. 

However, this three-year wait out period will not apply if you are buying any of the above homes with your parents or a new spouse, or if you are buying a resale flat from the open market without the CPF Housing Grant.

If there is no matrimonial home or the matrimonial home was bought from the open market without any CPF Housing Grant, you may apply for any of the above housing units after you get your ex-spouse's consent not to own or be listed as an essential occupier in any of the above housing units within the three-year period from the date of divorce. 

The requirement for ex-spouse's consent is waived if you are buying any of the above housing units with your parents or a new spouse or if you are buying a resale flat from the open market without the CPF Housing Grant. 

The requirement to seek ex-spouse's consent during the three-year period from the date of divorce is also waived if you meet the following conditions:
  • All your children are below 18 years old at the date of divorce; and
  • You have the legal custody of all your children and are also the only parent with the care and control of all your children.

       5.    Cancellation of Application After Booking a Flat
If you book a flat from the March 2012 Build-To-Order and Sale of Balance Flats Exercises onwards and subsequently cancel the flat booking, you will have to meet a 1-year period from the date of cancellation before you can apply or included as an essential occupier in an application for a:
  • new HDB flat
  • DBSS flat from developers
  • Executive Condominium unit from the developers
  • resale flat with CPF Housing Grant
  • resale flat that has been announced for SERS

6.    Person Who Has Bought an EC/DBSS Flat with CPF Housing Grant and terminated the S&P
A person who bought an EC or DBSS flat with CPF Housing Grant and terminated the Sale and Purchase Agreement may apply to buy an EC. 

However, this is allowed on the condition that a 5-year period has lapsed from the termination date of the Sale & Purchase Agreement of their earlier EC or DBSS flat purchase, to the date of application date for an EC.
 
Conditions after Purchase of EC

1. Selling of current HDB / DBSS flat in the open market
If you currently own an HDB / DBSS flat, you and/or your spouse must dispose of the flat within 6 months from the date of issuance of the Temporary Occupation Permit in respect of the Executive Condominium (EC). 

If you intend to apply to purchase an EC where the Temporary Occupation Permit for the EC has been issued, you will be required to dispose of your existing HDB / DBSS flat within 6 months from the date the Developer serves the Notice of Vacant Possession on you.

2. Taking a Housing Subsidy
You and your spouse will be considered as having taken a housing subsidy when you buy an EC under the CPF Housing Grant Scheme from the developers. 

Citizen Top-Up
  • If you are from an SC/SPR household, you can apply for the Citizen Top-Up when your SPR family member takes up Singapore Citizenship or when you have a SC child. > Read more on the Citizen Top-up

3. Minimum Occupation Period (MOP)
Sale of EC
  • You have to occupy the EC for 5 years before you can sell it in the open market.

Essential occupiers in EC
  • Occupiers who are essential in the forming of a family nucleus with you in the EC application must continue to be listed in the application and stay in the EC during the 5-year Minimum Occupation Period (MOP). 
  • They cannot make a separate application, or to be listed as occupiers in another application to purchase an HDB flat or another EC within the MOP.

4. Renting out your EC
Renting out the whole EC unit
  • Renting out of whole EC unit within the 5-year Minimum Occupation Period (MOP) is not allowed.
Renting out rooms
  • No prior approval from HDB is required if you rent out your bedroom(s) in the EC within the MOP. However, with effect from 1 Feb 2010, you must register the subletting of bedrooms with HDB within 7 days of doing so. You are also required to notify HDB when you renew or terminate the subletting of bedrooms, and when there are changes to your subtenants’ particulars. You may approach the HDB Branch managing your EC to register the subletting. 

5. Buying another subsidised housing
After selling your EC in the open market, you must wait for 30 months before you can submit an application to buy:
    1. a new flat from HDB; or
    2. an apartment under the Design, Build and Sell Scheme (DBSS) from developers; or
    3. another EC from developers.

6. Resale Levy
The resale levy is meant to reduce the housing subsidy on the flat buyers' second subsidised flat. It also ensures a fairer allocation of housing subsidies among flat buyers.

You are liable to pay a resale levy of $55,000 when you buy a second subsidised flat from HDB or take over ownership of a subsidised HDB flat after selling the EC bought under the CPF Housing Grant Scheme (after meeting the 5-year Minimum Occupation Period (MOP) and the 30-month period).

If you do not intend to buy a second subsidised flat from HDB, for example, if you are buying a resale flat, a new DBSS flat, an EC from the developer, or a private residential property, you need not pay the resale levy.

7. Interest in Private Property
You cannot invest in private residential property during the 5-year minimum occupation period.
 
Buying an EC in Open Market 

Executive Condominium (EC) owners who have occupied their EC and met the 5-year minimum occupation period (MOP) can sell their EC in the open market. The 5-year MOP is computed from the date of issuance of Temporary Occupation Permit (TOP) in respect of each EC. 

After the 5-year MOP, from 6th to 10th year, EC can be sold in the open market to those who can meet the following eligibility conditions. 

Citizenship
  • You must be a Singapore Citizen (SC) or a Singapore Permanent Resident (SPR) in order to buy a EC in the 6th to 10th year occupation period
  • Foreigners and corporate bodies can buy ECs in the open market from 11th year of the EC project. All restrictions will be lifted from 11th year onwards

Family Nucleus
  • You need not form a family nucleus to buy a EC from the open market. 
  • For e.g. a single person above 21 can buy a EC from the open market.

CPF Housing Grant
  • Buyers of resale ECs are not eligible for CPF Housing Grant as such ECs are treated as equivalent to “private housing”.

From 11th year, all restrictions will be lifted. Foreigners and corporate bodies can buy ECs in the open market from 11th year of the EC project.

Want to know if you are eligible to buy an EC?


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