FAQs (Frequently Asked Questions)
Email Us (via the Contact Form below) and we will send you the application form.
Official applications are done at the system at the showflat that is linked to the authorities’ system. It cannot be done via HDB website, or on any website online at all (regardless of claims to the contrary).
We will subsequently do a preliminary eligibility check before you proceed to book a unit.
- You are a Singapore citizen and at least one member of your essential family nucleus in the application is a Singapore citizen or PR, and
- You are at least 21 years old, and
- Your total monthly household income does not exceed SGD$14,000, and
- You form an essential family nucleus as defined by HDB, and
- You have not bought a new EC or HDB flat or with a grant more than once, and
- None of your family nucleus in the application has owned private property within the last 30 months.
That was the quick answer; for detailed criteria, see EC Eligibility Conditions.
- Have not bought a new EC or HDB or resale flat with a grant, more than once in total.
- Have already stayed in your flat at least 5 years if bought direct from HDB / developer or with a grant.
- Will fulfil your MOP before your new 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 or getting vacant possession of your new EC unit.
- Can be rented to anyone, or sold to Singapore citizens or Permanent Residents, after you have occupied it for at least 5 years.
- Can be sold or rented out to anyone, including foreigners or developers, after 10 years.
- May get the CPF housing grant, up to $30,000 to help pay the 15% downpayment. See the CPF Housing Grant chart.
- Get priority in selecting a unit (70% of units are reserved for 1st timers in the first month of the launch).
- Can get up to 80% bank loan for the new executive condominium purchase even if you have an existing mortgage on your current home, unlike for private property.
ECs allow you to buy a condominium at a large discount (20% to 30%) compared to private condominiums, that will eventually be partially privatised after 5 years, and fully privatised & equivalent to private condos after 10 years.
- Cheaper. A lot.
- Maximum household income ceiling is $12,000 to buy a unit.
- May be able to get HDB loan.
- No facilities. Not a gated community.
- You do not own the land. The land reverts back to HDB after the 99 years lease. Around 5% of flats get to enjoy SERS (Selective Enbloc Redevelopment), but the decision does not lie with you. So your flat is not designed to serve as a wealth or investment vehicle for the long term.
- Higher price, but potential capital gain will likely 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 condominium. No difference from private condos after 10 years.
- You co-own the land & communal facilities. Theoretically the land reverts back to the state at the end of the (eg. 99 years) lease, but there is the option of selling en-bloc to developers before that, and earning quite good capital gains, which is often the case.
- First 5% cash (via cheque or cashier’s order) at time of booking the unit.
- Next 15% within 9 weeks of booking the unit. This 15% can be from CPF Housing Grant, and from CPF funds, and/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 to developer as and when construction work reaches certain stages. If you take a loan, your monthly installments start small and slowly increase.
For the detailed schedule, see the Payment Schedule Chart.
- Stamp Duty = Purchase Price x 3% – $5400.
Payable within 2 weeks of signing the Sales & Purchase agreement, or around 5 to 6 weeks after booking the unit. 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 $2,500 to $3,500.
- If taking a bank loan, there will likely be bank admin fees & valuation charges. Typically less than $1,000.
The time it takes for an Executive Condominium application to be approved can vary widely. Here is a chart showing the general timeline, highlighting critical dates. Click to Enlarge.
CONTACT FORM · EC BUYING GUIDE
If you have any queries, or would like to register interest or do an e-application, please email us here.