SINGAPORE EC! ELIGIBILITY TO BUY EXECUTIVE CONDO

Singapore EC are residential developments built in HDB lands by private developers.

Obviously, Executive Condominium (EC) is building in existing HDB’s land. Generally speaking, these lands are acquired or they are assigned to HDB in the beginning stage of public housings in Singapore. Later, when public housing numbers has increased sufficiently due to the great success of Housing & Development Board (HDB). To illustrate further, HDB is one of Singapore Government Agency who look after need of public housings. After that HDB realised that there are some gaps in uncovered. Due to the fact that some higher incomer citizen might need some higher quality living than HDB. Thus their income are not enough to catch up with private condo prices in open market.

In order to prevent the market crashing to private condo which has higher land cost. And also to limit these offer to the particular income class, mentioned earlier, conditions were created.

Singapore Executive Condominium or EC are residential developments on HDB 99 Years Leasehold land. Developers are private Developers. Direct buyers must qualified by HDB, Executive Condominium Rules.

Emphatically, the Minimum Occupation Period (MOP) 5 Years from TOP date must be fulfilled. After 5 years, owners can resale to resale buyers (*must also qualified by HDB rules). Further more, after 10 years from TOP, the EC developments will be privatised. By then, owners can sell to any one in "open market" like one of the private condo.

WHAT IS CONDITIONS FOR BUYING SINGAPORE EXECUTIVE CONDO (EC)?

Basically, to qualify for buying Singapore EC, buyer must complied with follow criteria. At least 1 Singapore Citizen (SC) and/or at least 1 another applicant must be Singapore Citizen (SC) or Singapore Permanent Resident (SPR). At the same time, applicants age must be 21 years  and above under family purchase. Otherwise, 35 years & above for Joint Single Buyers(2 persons not related as family) purchase. On the other hand, income combined ceiling, must not exceed $16,00 per annum. Moreover, all applicants must not owned private property within 30 months before the application date. In addition, any one of applicant not have bought more than 1 of these properties/ received 1 CPF Housing Grant. To illustrate, please refer to the listed in bullet form for easy understanding.

Overview of eligibility conditions

Family nucleus - Essentially, buyers must be qualified for the Singapore EC under one of these eligibility schemes:

1. Public Scheme
2. Fiancé/Fiancée Scheme
3. Orphans Scheme
4. Joint Singles Scheme

Citizenship

• Essentially, buyer must be a Singapore Citizen
• At least 1 other applicant must be a Singapore Citizen or Singapore Permanent Resident
• Most important that all singles must be Singapore Citizens if applying under the Joint Singles Scheme

Age for Singapore EC applicants

• 21 years old and above
• 35 years old and above, if applying under the Joint Singles Scheme

Income ceiling

• Explicitly, buyers' household income must not exceed $16,000 income ceiling.

Property ownership

• Moreover buyers do not own other property overseas or locally, or have not disposed of any within the last 30 months
• In case, buyers have not bought a new HDB/ DBSS flat or EC, or received a CPF Housing Grant before; or, have only bought 1 of these properties/ received 1 CPF Housing Grant thus far

Certainly, buyer of Singapore EC must be with one of following to form of family nucleus. For instance:

• with Spouse &/or Children (if any)
• or with Parents &/or Siblings
• or buy with own legal Custody-Care Children# (in case of widows& divorcees)

For this purpose, buyer of Dual Keys unit in Singapore EC must apply under Multi-Generation family as following rules:

• Married/engaged couple and parent(s)/grandparent(s)
• Widowed/divorced with own legal Custody-Care Children# and parent(s)/ grandparent(s)

Remarks:
# If the care and control under age 21 is shared with ex-spouse must get written agreements for submission.

Similarly, buyers with your spouse-to-be will be treated in a family nucleus manner.

Solemnisation of Marriage
According to this scheme, Buyer need to support documents as following:

• Firstly, Solemnise of Marriage
• And also, submit a photocopy of your marriage certificate to the developer within 3 months* of collecting your keys to the EC unit.

Remarks:
* will written in application & be specify in Option To Purchase (OTP)
Write consent is needed for spouse-to-be above 18 but below 21 years old. For this special Marriage, Licence from the Ministry of Social and Family Development and submit it to us during the EC selection appointment.

In conclusion, buyer of Singapore EC may apply with own siblings. In case of buyers are orphans and single, such as; unmarried, divorced, or widowed:

• Above all, siblings that are single must be listed in the same application
• equally important that, at least 1 of the deceased parents was a SC or SPR

In addition, buyer and up to 3 other co-applicants can apply and must comply to this rules:

• In this case, Single referring to unmarried, divorced, or widowed.
• Singapore Citizens (SC)
• Age 35 years old and above
• Furthermore, applying jointly as co-applicants
• In contrast, no CPF Housing Grant for singles when buying an EC.

In regard to, buyer who still own following can buy Singapore EC:

• HDB house purchase directly from HDB
• otherwise, HDB bought from resale market using CPF Housing Grant (only applies to first-timer applicants)
• EC/DBSS house purchase directly from HDB

Overall, buyer who purchase above property twice already are not eligible to buy EC