Eligibility to buy EC
The temptation to buy EC as your first property or even upgrader is very appealing because EC is subsidized private condominium where you buy at discount which can be as high as 30-40% compare to the nearby private condominium. EC will eventually reach its semi private status after 5 years and full private condo after 10 years. Therefore, your potential of profit when buying EC is very high compare to HDB/BTO in my opinion. What’s more? Only Singapore citizen has the privilege to buy direct from developer at the subsidized price. Since it is subsidized, there are some rules that you need to abide. Therefore, we will discuss on eligibility to buy EC in this article.
6 factors to determine if your eligibility to buy EC
- Citizenship
- Age
- Family Nucleus
- Income Ceiling
- Ownership in private
Citizenship
The combination is Singapore citizen (SC) + Singapore citizen (SC) or Singapore permanent resident (SPR). Applicants must consist of at least 1 Singapore citizen. The other applicant can either be a Singapore Citizen and SPR.
Age
Minimum age is 21 years old and above. If applying under Joint Single Scheme, it must be 35 years old and above.
Family Nucleus
- Public Scheme
- Fiance/Fiancee Scheme
- Orphan Scheme
- Joint Single Scheme
Public Scheme
- The main applicant (Singapore Citizen/SC) & SC or SPR
- Spouse (and children if any)
- Parents (and siblings if any)
- Children under legal custody (divorced/widowed)
Fiance/Fiancee Scheme
Written parental consent needed if spouse-to-be is 18 years old and above but below 21. And it can be only listed as an essential occupier in the flat application. The written consent from the parents/guardians must be submitted during EC selection appointment.
Special marriage license needed if spouse-to-be is below 18 years old. Following your flat application, you must obtain a special marriage license from the Ministry of Social and Family Development and submit it during the EC selection appointment.
For other normal cases, marriage certificate must be submitted before taking possession of your EC if you apply for CPF Housing Grant or within 3 months of taking possession of your EC if you did not apply for CPF Housing Grant.
Applicants citizenship must be Singapore citizen + Singapore Citizen or Singapore Permanent Resident.
Orphan Scheme
- Must be Singapore Citizen and at least 21 years old at the time of application
- A single orphan applicant and all his unmarried siblings are to be listed in the same application
- At least one of the deceased parents was Singapore Citizen or Singapore Permanent Resident
Joint Single Scheme
The applicant (Singapore Citizen) and
- Another single SC or up to total of 4 SC applicants
- Must apply jointly as co-applicants
- Unmarried, divorced, or widowed (can be 21 years old)
- Age 35 and above
- Single housing grant is not applicable for EC
Income ceiling
Gross monthly household income is SGD 14,000.
Ownership in private properties
Applicants and occupiers must not own other residential property overseas or locally and have disposed it for at least 30 months. Commercial property owners might be allowed to apply for EC.
More about EC
- First timer/second timer
- CPF Housing Grant
- Resale Levy for second timer
- Payment scheme
You are considered as first timer if you are/were not
- Owner of a flat bought directly from HDB, DBSS, or an EC
- Received CPF Housing Grant for the purchase of a resale HDB flat
- Benefited under SERS, privatization of HUDC estate
You are considered as second timer if you have owned/sold or current owner of
- HDB flat that was bought directly from HDB (BTO)
- Any resale HDB flat that was bought under the CPF Housing Grant Scheme
- DBSS or EC directly from developer
- Have benefited under SERS or privatization of HUDC estate
CPF housing grant for EC
To encourage SPRs to take up citizenship, the SC/SPR households will enjoy the full subsidy when the SPR family subsequently takes up citizenship or if the couple has an SC child. Upon conversion to SC/SC households, the withheld subsidy will be restored when the household claim the SGD 10,000 Citizen Top-Up via CPF. Claim must be done within 6 months from conversion and the applicants must be the owner of the EC at the time of claim.
EC Resale Levy
If you are second timer and plan to buy EC directly from developer where the land sale was launched on or after 9 Dec 2013, you need to pay resale levy and the amount will be depending on the type as well as when you disposed your first subsidized property. Do note, for previous Single Grant recipient, they only need to pay half of the resale levy amount below.
1st Subsidized Flat | Resale application before 19 May 1997 | Resale application between 19 May 1997 & 3 Mar 2006 | Resale application after 3 Mar 2006 |
2 Room | 20% of EC Purchase Price | *10%/15% | SGD 15,000 |
3 Room | 20% of EC Purchase Price | 20% | SGD 30,000 |
4 Room | 20% of EC Purchase Price | 22.5% | SGD 40,000 |
5 Room | 20% of EC Purchase Price | 25% | SGD 45,000 |
Executive Flat/DBSS | 20% of EC Purchase Price | 25% | SGD 50,000 |
Executive Condo |
|
| SGD 55,000 |
Payment of resale levy | Paid to HDB upon HDB’s approval on EC application | Paid to HDB upon HDB’s approval on EC application. 5% compounded interest is applicable | If flat already sold, payment made to HDB upon HDB’s approval on EC application. If flat is still owner occupied, resale levy will be deducted from cash proceeds upon sale. Any shortfall must be topped-up in cash. |
Executive condo payment scheme
EC normal payment scheme
EC deferred payment scheme
Contact us further for latest update on EC
The Vales EC @ Sengkang
- Door step Cheng Lim LRT
- 1 LRT stop to Sengkang MRT
- Approx. 7 minutes walking distance to Sengkang MRT, bus interchange, and compass one mall
- Surrounded by many good schools including Nan Chiau primary school
- Probably the nearest EC to Sengkang MRT