Ultimate Guide on Eligibility to Buy an Executive Condo in Singapore

Singapore

Executive Condominiums are gaining fast popularity all across Singapore. Compare to private condominiums, ECs are well known for having the same, if not better facilities which makes them attractive to many home buyers. Aside from offering very identical amenities, executive condominiums are equally more affordable than private condos. With one saving at least 20-30% discount compare to private residential flats, who wouldn’t want to live in an affordable yet high quality unit?

However, being a public-private hybrid type of housing, executive condominiums are governed with rules and regulations. Aside from the minimum occupancy period and privatization status after 5-10 years, interested buyers should first meet certain eligibility requirements before they can acquire ECs. To know more about these conditions, check out this ultimate guide to executive condo eligibility.

EC eligibility guide

Executive Condominium Eligibility Conditions

With regards to eligibility EC Singapore, the first thing you need to take note of is that you need to form a proper family nucleus under one of the following schemes:

Type of Scheme Family Nucleus Requirements Members
Public Scheme You (the applicant) and; Your spouse, and children (if any)

Your parents, and siblings (if any)

Your children under legal custody (for widowed or divorced applicants)

Fiancé/Fiancée Scheme You (the applicant) and; Your spouse-to-be
Orphan Scheme You (the applicant) and; Your unmarried siblings

Another single unrelated orphan

Joint Singles Scheme You (the applicant) and up to 3 co-applicants who are; Single (unmarried, divorce or widowed)

Singapore Citizens

At least 35-year old

Note that you may be able to purchase a dual-key EC unit, if offered by the developer, provided that you form a multi-generation family of:

  • Married or engaged couple with parents/grandparents
  • Widowed or divorced with children and parents/grandparents

Aside from the above family nucleus schemes, there are additional requirements one must comply before they become eligible to acquire a new executive condominium. Continuing on this guide to eligibility on executive condo, here’s the full list of essential requirements:

Citizenship

  • Applicant must be a Singapore Citizen.
  • At least 1 other applicant must be a Singapore Citizen or Singapore Permanent Resident.

Age

  • At least 21-year old.
  • At least 35-year old, if applying under the Joint Singles Scheme.

Income Ceiling

  • The total monthly household income must not exceed $14,000.

 

Property Ownership

  • You do not own other property overseas or locally, or have not disposed any within the last 30 months.
  • You have not bought a new HDB, DBSS or EC flat or; have not received a CPF Housing Grant before; or have only bought 1 of these properties and received 1 CPF Housing Grant so far.

EC eligibility guide

Related Documents You Need to Prepare

To assess your average gross monthly income, you and other applicants together with essential occupiers must submit specific documents to prove the nature of your employment. You will need to prepare the following:

  • Latest 3 months pay slip if employed full time.
  • 12 months of income documents for other employment types.
  • Proof of unemployment if not working.

If applying under the fiancé/fiancée scheme, you need to submit these documents:

  • Copy of your marriage certificate to the developer.
  • Written parental consent if the spouse-to-be is 18 years old and above but below 21.
  • Special marriage license if the spouse-to-be is below 18 years old.

 

EC Eligibility Guide – Important Things to Consider

Keep in mind that each eligible Singaporean household is only allowed to buy the following housing units twice (in total):

  • HDB flat
  • Resale flat with CPF Housing Grant
  • DBSS flat
  • Executive Condominium

 

If you have bought two housing units mentioned above, you will not be considered eligible to apply or be listed as an essential occupier in any EC application.

EC eligibility guide

Are you a First-Timer or Second-Timer Applicant?

Following this guide to executive condo eligibility, note that there is a huge difference between a first-timer and second-timer applicant. While both can be considered eligible to buy an EC, each of them are offered with different set of privileges and priority allocations.

You are considered a first-timer applicant if you and other essential occupiers DO NOT:

  • Own a flat bought from HDB, DBSS or EC.
  • Sold a flat bought from HDB, DBSS or EC.
  • Received any CPF Housing Grant for the purpose of HDB resale flat.
  • Enjoyed any form of housing subsidy like SERS and privatization of HUDC estate.

 

You are considered a second-timer applicant if you and other essential occupiers have owned or sold any of the following:

  • HDB flat bought from HDB.
  • Resale flat bought using CPF Housing Grant.
  • DBSS or EC flat bought from developer.
  • Enjoyed other forms of housing subsidy like SERS and privatization of HUDC estate.

 

Additional Notes to Consider

  • If you are a second-timer and your spouse or fiancé/fiancée is a first-timer, you can be considered as first-timer applicants.
  • 70% of ECs are set aside to first-timer applicants during the initial launch period.
  • 95% of DBSS flats are set aside to first-timer applicants during the initial launch period.

EC eligibility guide

Periods When You Cannot Directly Apply for an EC

Even if you have met the above conditions of eligibility EC Singapore, there are instances where you need to wait a specified duration of time before you can apply for a new executive condominium. This usually happens when:

  • You have not yet met the Minimum Occupancy Period (MOP) of your current flat or EC.
  • You are a divorcee.
  • You previously cancelled an HDB flat application or terminated the Sales and Purchase Agreement for a DBSS/EC.

 

Type of Property Time Period Before You Can Apply for A New EC
Current Owner: >HDB flat bought from HDB

>Resale flat bought with CPF Housing Grant

>DBSS flat bought from developer

MOP of 5 years
>EC bought from developer MOP of 5 years + 30 months from date of EC disposal
Essential Occupier: >HDB flat bought from HDB

>Resale flat bought with CPF Housing Grant

>EC/DBSS flat bought from developer

MOP of 5 years
Divorcee: >Flat bought from HDB

>Resale flat bought with CPF Housing Grant

>EC/DBSS flat bought from developer

3-year-wait-out-period
Cancelled HDB Application >New HDB flat 1-year-wait-out-period
Terminated Sales & Purchase Agreement >EC/DBSS flat bought using CPF Housing Grant

 

5-year-wait-out-period

 

Additional Notes for Divorcee

  • Only 1 party in the divorce can own an executive condo.
  • There is no need to undergo the 3-year-wait-period if you are buying with your parents or new spouse.
  • A parent with children aged 18 below at the date of divorce and those who are given full legal custody of all children are likewise exempted.

EC eligibility guide

Guide to Eligibility on Executive Condo – Open Market

An executive condominium that has met the 5-year Minimum Occupancy Period is allowed to be listed in the open market. The 5-year MOP is computed based from the date of issuance of the Temporary Occupation Permit (TOP).

After the 5-year MOP, from 6th to 10th year, an EC can be sold under the following eligibility conditions:

1. Citizenship – must be a Singapore Citizen or Singapore Permanent Resident.

2. Family Nucleus – NOT required to form a family nucleus.

3. CPF Housing Grant – buyers of resale ECs are NOT entitled to any housing grant.

From 11th year onwards, all restrictions of executive condominiums are lifted and they are now classified as “Private Housing”. This means that foreigners and even corporate bodies can acquire them freely in the open market.

May this EC eligibility guide serve as your handy companion with regards to the restrictions and buying conditions of executive condominiums. To avoid costly mistakes, confusion and disappointments, before looking for a place you can call your own, it is wise to determine your eligibility status first.

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