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Executive Condominium (EC)

These are the eligibility conditions to buy a new Executive Condominium (EC) from a developer. Before you submit an application, learn what conditions apply after you buy an EC, and find out if you must pay a resale levy.

What are the eligibility conditions?

You and any other applicants and essential occupiers need to meet several eligibility conditions such as citizenship, age, income, and property ownership.

Overview of eligibility conditions

Family nucleusYou will need to qualify for the EC under one of these eligibility schemes:

- Public Scheme
- Fiancé/Fiancée Scheme
- Orphans Scheme
- Joint Singles Scheme
Citizenship- You must be a Singapore Citizen
- At least 1 other applicant must be a Singapore Citizen or Singapore Permanent Resident
- All singles must be Singapore Citizens if applying under the Joint Singles Scheme
Age- At least 21 years old
- At least 35 years old, if applying under the Joint Singles Scheme
Income ceilingYour household income must not exceed the $16,000 income ceiling.
Property ownership- You do not own other property overseas or locally, or have not disposed of any within the last 30 months
- You 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

Family nucleus for EC

Public Scheme

Public Scheme

You form a family nucleus with any of the following:

  • Spouse, and children (if any)
  • Parents, and siblings (if any)
  • Children under your legal custody, care and control (if widowed/divorced#)

#If the care and control of your children under the age of 21 is shared with your ex-spouse, you must obtain his/her written agreement before you can list your children in a flat application.

Fiancé/ Fiancée Scheme

Fiancé/Fiancée Scheme

You form a family nucleus with your spouse-to-be.

Submission of marriage certificate

Under this scheme, you need to submit a photocopy of your marriage certificate to the developer within 3 months of collecting your keys to the EC unit.

Written parental consent needed if spouse-to-be is 18 years old and above, but below 21

  • That person can only be listed as an essential occupier in the flat application
  • Written consent from that person’s parents/ guardians must be submitted during the EC selection appointment.

Special Marriage Licence needed if spouse-to-be is below 18 years old

Following your flat application, you must obtain a Special Marriage Licence from the Ministry of Social and Family Development and submit it to us during the EC selection appointment.

Orphans Scheme

Orphans Scheme

You and your siblings (those applying) are orphans and single (unmarried, divorced, or widowed)

  • All of the siblings that are single must be listed in the same application
  • At least 1 of the deceased parents was a Singapore Citizen or Singapore Permanent Resident

Note that under the Orphans Scheme, siblings are not allowed to buy or rent flats separately.

Joint Singles Scheme

Joint Singles Scheme

You and up to 3 other co-applicants, and all of you are:

  • Single (unmarried, divorced, or widowed)
  • Singapore Citizens
  • At least 35 years old
  • Applying jointly as co-applicants

The CPF Housing Grant for singles is not available when buying an EC.

Income Ceiling for EC

Your average gross monthly household income must not exceed $16,000.

Income/ allowance that will be considered for income assessment
  • Allowances (fixed/ variable) received on a regular basis (e.g. allowances for food, transport, laundry, uniform, etc.)
  • Sustenance allowance
  • Stipend
Income/ allowance that will not be considered for income assessment
  • Alimony allowance
  • Bonuses
  • Director's fee
  • Income from overtime work
  • Interest from deposit accounts
  • National Service Allowance
  • Rental income
  • Scholarship overseas allowance
  • Overseas cost of living allowance
  • Pension

Employed

Employed person

Documents to Submit Notes

- 3 months’ payslips preceding the month of application

or

- Letter from employer certifying salaries for 3 months preceding the month of application; the letter must contain the:

* Company stamp/ letterhead

* Certifying officer’s name, signature, and designation

Note: If your income includes allowances, we will require 6 months’ payslips preceding the month of application.

- Assessment is based on the average gross monthly income, which:

* Excludes bonuses and income earned from overtime work

* Includes allowances (fixed/ variable) received on a regular basis (e.g. allowances for food, transport, laundry, uniform, etc.)

- If you are employed full-time but on no-pay leave for less than 6 months, we will consider you as employed and use your last drawn pay for assessment. If you are on no-pay leave for 6 months or more, your income will not be considered in the assessment.

- Notice of Assessment (NOA) from the Inland Revenue Authority of Singapore (IRAS) will not be accepted

Self-employed

Self-employed person

Documents to Submit Notes

- Latest NOA from IRAS or Statement of Annual Accounts certified by an audit firm

and

- Valid Accounting and Corporate Regulatory Authority (ACRA) Computer Information (Business Profile) or valid licence of trade

and

- Undertaking affirming the average gross monthly income for +6 months preceding the month of application

- Assessment is based on the average gross monthly income

- The Statutory Declaration can be made at the Sales Office at HDB Hub or at any HDB Branch. Declarants are required to bring along their Identity Cards

- If not in Singapore, the Statutory Declaration can be made in the presence of a Commissioner for Oaths or a Notary Public for that country

Part-time

Part-time worker

Documents to Submit Notes

- 6 months’ payslips preceding the month of application

or

- Letter from employer certifying salaries for 6 months preceding the month of application; the letter must contain the:

* Company stamp/ letterhead

* Certifying officer’s name, signature, and designation

- Assessment is based on the average gross monthly income.

Commission-based

Commission-based person

Documents to Submit Notes

- 6 months’ commission statements/ payslips preceding the month of application

or

- Letter from employer certifying salaries for 6 months preceding the month of application; the letter must contain the:

* Company stamp/ letterhead

* Certifying officer’s name, signature, and designation

- Assessment is based on the average gross monthly income.

Odd job

Odd job worker

Documents to Submit Notes

- Latest NOA from IRAS

or

- Letter from employer certifying salaries for 6 months preceding the month of application; the letter must contain the:

* Company stamp/ letterhead

* Certifying officer’s name, signature, and designation

- Assessment is based on the average gross monthly income.

Unemployed

Unemployed person (between 18 to 62 years old)

Documents to Submit Notes

- Undertaking affirming the unemployment status

or 

- Valid Student Pass or letter from school/ college/ institute of learning to confirm student status, if currently a full-time student

- If unemployed for less than 3 months, the following documents are required:

* Income proof for the preceding month(s) from the previous employer stating gross monthly income and last day of service

* Latest 15 months’ CPF contribution history

- The Statutory Declaration can be made at the Sales Office at HDB Hub or at any HDB Branch. Declarants are required to bring along their Identity Cards

- If not in Singapore, the Statutory Declaration can be made in the presence of a Commissioner for Oaths or a Notary Public for that country

CPF Housing Grants for ECs

These are the CPF Housing Grants available for Executive Condominium (EC) purchases from developers:

  • Family Grant
  • Half-Housing Grant (SC applicant only)

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

Monthly household incomeCPF Housing Grant
SC/ SC households
CPF Housing Grant
SC/ SPR households
Half-Housing Grant
SC/ SC or SC/ SPR
$10,000 or lower$30,000$20,000$15,000
$10,001 to $11,000$20,000$10,000$10,000
$11,001 to $12,000$10,000Nil $5,000
More than $12,000NilNil Nil

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.

Resale Levy for EC

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

First Subsidised Housing TypeHouseholdsSingle Grant recipients
2-room flat $15,000$7,500
3-room flat $30,000$15,000
4-room flat $40,000$20,000
5-room flat $45,000$22,500
Executive flat $50,000$25,000
Executive Condominium $55,000Not applicable

Resale levy amount for first subsidised flat sold between 19 May 1997 to 3 March 2006

If you had 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. Based on resale price of the sold flat, or 90% of its market valuation, whichever was higher.

First Subsidised Housing TypeHouseholdsSingle Grant recipients
2-room flat 10%5%
3-room flat 20%10%
4-room flat 22.50%11.25%
5-room flat & Executive flat 25%12.50%

Premium amount for first subsidised flat sold before 19 May 1997

The premium is based on 20% of the purchase price of the EC unit and must be paid by cashier's order in favour of the HDB. The developer will collect and forward the cashier's order to the HDB.

Paying the resale levy

The resale levy payable is determined at the point you book your EC unit. 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.

When and how payment is made

Flat Sale TimelineResale Levy Payment
Own an existing subsidised flat at the
point of signing the EC Sale and
Purchase Agreement
- Resale levy deducted from the sale proceeds upon the sale of the first subsidised flat
- Any shortfall to be paid in cash
Sold subsidised flat before signing the EC Sale
and Purchase Agreement
- Before the EC buyers sign
the EC Sale and Purchase Agreement

Conditions After Buying

After you buy an EC, there are certain conditions that apply before you can sell, rent out, or buy another subsidised property.

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 when your SPR family member takes up Singapore Citizenship or when you have an SC child.

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.

Interest in private property

You can invest in private residential property after the 5-year 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.

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