You must meet the eligibility conditions to buy an Executive Condominium (EC) unit from a property developer. Before you submit an application, learn what grants are available to you, conditions that apply after you buy an EC, and find out if you must pay a resale levy.

Eligibility Conditions Of Buying EC

Family Nucleus
You will need to qualify for the EC under one of these eligibility schemes:
1. Public Scheme
2. Fiancé/Fiancée Scheme
3. Orphans Scheme
4. Joint Singles Scheme

Citizenship
1. You must be a Singapore Citizen (SC)
2. At least 1 other applicant must be a Singapore Citizen or Singapore Permanent Resident (SPR)
3. All singles must be Singapore Citizens if applying under the Joint Singles Scheme

Age
1. At least 21 years old
2. At least 35 years old, if applying under the Joint Singles Scheme

Income Ceiling
Your monthly household income must not exceed $16,000.

Property Ownership
All applicants and occupiers listed in the flat application:
1. Must not own or have an interest in any local or overseas private property
2. Have not disposed of any private property in the last 30 months before the application to buy an EC unit from a property developer

Private properties include but are not limited to houses, buildings, land, EC units and privatised HUDC flats. You are deemed as having acquired interest in a property which is:
1. Acquired by gift
2. Inherited as a beneficiary under a will or from the Interstate Succession Act
3. Owned, acquired, or disposed of through nominees

Previous Housing Subsidies
A subsidised housing unit refers to:
1. A flat bought from HDB
2. A resale flat bought with CPF housing grant
3. A Design Build and Sell Scheme (DBSS) flat bought from a property developer
4. An EC unit bought from a property developer
5. Other forms of housing subsidy (e.g. enjoyed benefits under the Selective En bloc Redevelopment Scheme (SERS), privatisation of HUDC estate, etc)

If you have not taken a housing subsidy before, you are a first timer and may buy an EC unit from a property developer.

If you have taken a housing subsidy, you are a second-timer and may buy an EC unit from a property developer. You have to pay a resale levy. Find out more on the resale levy payable.

If you have already bought 2 subsidised housing, you will not be eligible to apply or be listed as an essential occupier to buy an EC unit from a property developer.

Ownership / Interest In HDB Flat
If you or any persons listed in the application have an interest in any HDB flat, you must dispose of the interest within 6 months of completion of the EC purchase.

Undischarged Bankrupt
Prior consent must be obtained from the Official Assignee (OA) or the private trustee for the purchase of an EC unit.

However, occupiers who are bankrupts do not need prior consent.

Wait-out Period For Applying EC

Cancellation of Application After Booking A Flat
If you booked a flat and subsequently cancel your booking, you must wait out a 1-year period from the date of the cancellation before you may apply or be listed as an essential occupier to buy an EC unit from a property developer.

Terminated The Sale and Purchase Agreement For An EC / DBSS Flat
If you had previously bought an EC unit / DBSS flat from a property developer and subsequently terminated the Sale and Purchase Agreement, you must wait out a 5-year period from the date of the termination before you may apply or be listed as an essential occupier to buy an EC unit from a property developer.

Talk To Us If You’re Unsure Of Your Eligibility And Documents Required For An EC Application. We Can Arrange For A Non-Obligatory Discussion. Contact Us Now!

CPF Housing Grants For ECs

These are the CPF Housing Grants available for Executive Condominium (EC) purchases from developers:
1. Family Grant
2. Half-Housing Grant

You and any co-applicants must be eligible for the grant at the point of booking the EC.

The CPF Housing Grants can be used to:

– Offset the balance downpayment for the EC and subsequent payments towards the purchase price
– Reduce the mortgage loan for the EC

The grant cannot be used for the minimum cash downpayment (if any) and monthly mortgage instalment payments. The grant will also be included in the computation of the CPF withdrawal limit.

You can apply for the CPF Housing Grant when booking your EC with the developer. CPF Housing Grants are fully credited into the CPF Ordinary Accounts of eligible Singapore Citizen (SC) applicants. No cash is disbursed.

Check if you are a first-timer applicant

You will be considered a first-timer applicant if you have not received any housing subsidy from HDB, which means that you must not:
– Be the owner of a flat bought from HDB
– Have sold a flat bought from HDB
– Have taken the CPF Housing Grant to buy an EC, Design, Build and Sell Scheme (DBSS) flat or an HDB resale flat, or taken over ownership of such a flat or EC
– Have transferred the ownership of a flat bought directly from HDB, or an HDB resale flat bought with a CPF Housing Grant
– Have ever taken other forms of housing subsidy, such as Selective En bloc Redevelopment Scheme benefits or privatisation of HUDC estate

Citizen Top-Up (For SC / SPR households)

You can apply for the Citizen Top-Up of $10,000 when a qualifying member of your SC/SPR household obtains Singapore citizenship. You need to submit your application to HDB within 6 months of being eligible for it.

Conditions After Buying

Selling of current HDB/ DBSS flat in the open market

You and your family members listed in the EC application must dispose of your existing flat within 6 months of taking possession of the EC unit. 

Taking a housing subsidy

You and your spouse will be considered to have taken a housing subsidy when you buy an EC from developers. 

Citizen Top-Up

If you are from an SC/SPR household, you can apply for the Citizen Top-Up Grant of $10,000 when your SPR family member takes up Singapore Citizenship or when you have an SC child. Find out more information about the eligibility conditions of the Citizen Top-Up Grant.

Minimum Occupation Period (MOP)

Sale of EC

ECs can only be sold in the open market after the 5-year MOP (from TOP date) has been met.

Essential occupiers in EC

Occupiers who are essential in forming 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 MOP. They cannot make a separate application, or be listed as occupiers in another application to buy an HDB flat or another EC within the MOP.

Renting out your EC

Renting out the whole EC unit

Renting out the whole EC unit within the 5-year MOP is not allowed.

Renting out rooms

You do not need prior approval from HDB to rent out the bedrooms in your EC within the MOP. However, you must register the renting out of bedrooms with HDB within 7 days of doing so. You are also required to notify HDB when you renew or terminate the renting out of bedrooms, and when there are changes to your tenants’ particulars. You can go to the HDB Branch managing your EC to register the renting out of rooms. 

Buying another subsidised home

After selling your EC in the open market, you must wait 30 months before you can submit an application to buy any of these:
– A new flat from HDB
– An apartment under the Design, Build and Sell Scheme (DBSS) from developers
– Another EC from developers

Resale Levy

If you previously bought a new flat from HDB, Design, Build and Sell Scheme (DBSS) flat or Executive Condominium (EC) from a developer, or received a CPF Housing Grant, you need to pay a resale levy when you purchase your next home (EC).

Half-resale levy for Singles Grant recipients
If you are a Singles Grant recipient, you only need to pay half the resale levy amount when you subsequently form a family and buy a second subsidised flat (EC).

Resale Levy Amount For First Subsidised Flat Sold On Or After 3 March 2006
If you have sold your first subsidised flat from 3 March 2006 onwards, you will pay a fixed amount resale levy as follows:

Resale Levy Amount For First Subsidised Flat Sold Before 3 March 2006
If the first subsidised flat was sold before 3 March 2006, a percentage graded resale levy will apply (see table for more details).

If you have opted to defer the payment of the resale levy until you buy another flat from HDB, an interest at a prevailing rate of 5% per annum is charged.

Resale Levy before 2006
* Only applicable to 2-room flat sellers who upgrade to a larger flat type.

If you and your spouse are aged 55 and above, have sold your first subsidised flat before 3 March 2006 and right-sizing to a new 3-room or smaller flat, you will pay only the percentage graded resale levy, with the interest waived. The resale levy payable is also subject to a minimum amount of $15,000 for 2-room, $30,000 for 3-room, $40,000 for 4-room, $45,000 for 5-room, and $50,000 for Executive flat sold. These are the same resale levy amounts payable by second-timers who sold their first subsidised flat on or after 3 March 2006.

When and How Payment Is Made

The resale levy payable is determined at the point you book your second subsidised flat. It applies regardless of ownership type (joint-tenancy or tenancy-in-common) or shared interest in the EC unit. Payment can only be made by way of your flat sale proceeds and/or cash. HDB mortgage financing will not be extended to the payment of a resale levy.

If you have any questions about the amount of resale levy payable, you may contact us via the form below.

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