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 nucleus | You 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 ceiling | Your 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
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
- Director's fee
- Income from overtime work
- Incentives
- Claims / reimbursements
- Employees’ benefits e.g. birthday incentives, marriage tokens, etc.
- Overseas cost of living allowances for working persons
- Pupillage/ stipends
Income/ allowance that will not be considered for income assessment
- Alimony allowance
- Bonuses
- Annual Wage Supplement
- Interest from deposit accounts
- National Service Allowance
- Rental income
- Overseas allowances for applicants on scholarship
- Pension
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 income | CPF 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 | $10,000 | Nil | $5,000 |
| More than $12,000 | Nil | Nil | 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.
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 Type | Households | Single 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 | $55,000 | Not 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 Type | Households | Single 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 Timeline | Resale 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 |
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.