Executive Condominium Buying Guide

FAQ (Frequently Asked Questions)

What must I do to book a unit?

Email Us (via Contact Form on this page) and we will send you the application form. (Application cannot be done via HDB website, or on any website online at all.)

We will subsequently have to do an eligibility check during the e-Application before you can proceed to book a unit.

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Am I eligible to buy an Executive Condominium (EC)?

You are if:
. You are a Singapore citizen and your partner is a Singapore citizen or PR.
. At least 21 years old.
. Your total monthly household income does not exceed $14,000.
. You form an essential family nucleus as defined by HDB.
. You & your partner have not bought a flat direct from HDB or with a grant more than once.
. None of your family nucleus has owned private property within the last 30 months.

That was the quick answer; for detailed criteria, see EC Eligibility Conditions.

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Can I buy a new EC if I currently own a HDB flat?

Yes, if you
. Have not bought a flat direct from HDB or with a grant more than once.
. Have already stayed in your flat at least 5 years if bought direct from HDB or with a grant.
. Will fulfil your MOP before this EC gets TOP, if your resale flat was bought without a grant.

But you must sell off your current flat within 6 months of TOP of your new EC unit.

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When can I sell or rent out my EC unit?

. Can be sold to Singapore citizens or PRs after 5 years, or rented out to anyone then.
. Fully privatized after 10 years. Can then be sold to anyone, including foreigners or developers.

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What other benefits do buyers get?

1st timer buyers
. May be eligible for the CPF housing grant, up to $30,000 to help pay the 15% downpayment.
. Get priority in selecting a unit (70% of units are reserved for 1st timers in first month).

2nd timer buyers
. Do not need to pay a resale levy for ECs launched before 1 January 2015.
. However a resale levy is payable for ECs launched from 1 January 2015 onwards.
. Feel free to check with us for which ECs are exempt from the resale levy.

Buyers with existing housing loan can still get up to 80% bank loan, unlike for private property.

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What is the difference between EC vs DBSS flats?

DBSS flat
. Slightly cheaper. May be about 20% cheaper depending on location.
. Maximum household income ceiling is $12,000 to buy a unit.
. You can take a HDB loan if your monthly household income is not more than $8,000.
. No facilities.
. Essentially a premium HDB flat that comes with finishes & fittings. You don’t own the land.

EC flat
. Slightly higher price, but potential capital gain may far outstrip the difference in price.
. Maximum household income ceiling is $14,000 to buy a unit.
. No HDB loan; use bank loan instead.
. Full condominium facilities inclusive of security (gated community).
. Essentially a condo. You co-own the land & communal facilities.
. Privatized condo after 10 years. May even sell en-bloc to developers eventually.

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What’s the payment schedule like for an Executive Condominium?

  • First 5% cash (via a cheque) at time of booking the unit.
  • Next 15% within 9 weeks (typically) of booking the unit. This 15% can be from CPF Housing Grant, or from CPF funds, or from cash.
  • Remaining 80% can be from CPF funds, bank loan, or cash. Payable progressively, which means you (or the bank if you take a loan) pays out the money as and when construction work reaches certain stages. If you take a loan, your monthly installments start small and slowly increase.

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What other costs are involved?

  • Stamp Duty = Purchase Price x 3% – $5400.
    Payable within 2 weeks of signing the Sales & Purchase agreement. You must sign and return the Sales & Purchase agreement to the developer within 3 weeks of receiving it.
  • Legal Fees (payable to your solicitor).
    Approximately $2,800 to $3,500 depending on the value of your purchase.

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Do I have to pay any admin charges or commissions or agent fees?

No, no charge at all. We will gladly provide you all the information, help you book your unit of choice directly from the developer, and handle all the documentation, without charging you anything.

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For queries or to register interest, please email us below.

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Email *
Phone *
Keep you posted on other new launches as well  

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DEVELOPER LAUNCHES

Seaside Residence condominium . Register for the Seaside Residences price details . VIP Preview & direct sale by consortium of Frasers FCL & KH Capital & Sekisui House

GEM Residences Condominium launching 2nd Quarter 2016 @ Toa Payoh . 480m walk to Braddell MRT Station . Register for Gem Residences showflat viewing . Direct sale by Evia Real Estate Group

New Sembawang EC . Qingjian Realty’s The Visionaire EC . Next to low-rise private residential area . 5 mins walk from Canberra MRT Station . Showflat Viewing & Launch E-Application April / May 2016

New Choa Chu Kang EC . Qingjian Realty’s Inz Residence EC . 4 bus stops from Choa Chu Kang Town Centre & Bus Interchange & MRT Station . Showflat Viewing & Launch E-Application February / March 2017

Executive condominium by Sim Lian Land . Beautiful floor layouts and good block to block distances . 7 – 8 minutes walk from Choa Chu Kang MRT Station . Wandervale EC will launch Feb 2016 . E-Application & Showflat Viewing

Vales EC :: New Sengkang Executive Condo :: 500m or 7 – 8 minutes walk from Sengkang MRT & Town Centre & Compass Point Mall :: By Singhaiyi . Showflat available for viewing at Fernvale

Information on this site may be overtaken by events and is subject to change. See Disclaimer.