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FAQ for EC

Do I need to satisfy the 5-year time bar for my flat if I apply for an Executive Condominium (EC) unit?

  • If you are currently the owner of a flat bought direct from HDB or an HDB resale flat or a DBSS flat bought under the CPF Housing Grant Scheme, you must live in the flat for at least five years (excluding any period of subletting of the whole flat) before you can apply for an Executive Condominium unit.

Why do ex-private property owners need to wait 30 months before they are eligible to apply for an Executive Condominium from the developer?

  • Subsidised public housing is provided as affordable homes to Singaporean families that cannot afford to own private housing. However, there are also limited resources in providing subsidized housing. Therefore, this condition is fair to discourage families with the means to own a private property not to compete with those in greater need for subsidized public housing.

I have applied for an Executive Condominium (EC) under the Fiancé/Fiancée Scheme and have signed the Sale & Purchase Agreement. I have since broken up with my fiancé/fiancée and I wish to give up the Executive Condominium. What are the possible consequences?

There are a number of consequences:

  • Buyers of Executive Condominium who are not able to produce the marriage certificate as required under the Fiancé/Fiancée Scheme will not be allowed to retain the Executive Condominium unit.
  • The developer has the right to cancel the Sale and Purchase Agreement with the buyer forfeiting 20% of the purchase price.
  • If you have applied and used the CPF Housing Grant in your purchase, you and your fiancé/fiancée will have to return the CPF Housing Grant together with interest accrued.
  • If the full amount cannot be recovered, the outstanding amount will be treated as a debt owed by you and your fiancé/fiancée to the Government. Both of you will not be able to buy another HDB flat/DBSS flat/Executive Condominium unit until the debt is fully settled.
  • In addition, if you have applied and used the CPF Housing Grant in your purchase, both of you will not be allowed to buy another HDB flat/DBSS flat/Executive Condominium unit until the CPF Housing Grant (with interest) has been returned to HDB. Upon full settlement, you and your fiancé/fiancée will be treated as not having enjoyed the CPF Housing Grant and can buy or take over the ownership of another HDB flat/DBSS flat/Executive Condominium unit if you meet all other eligibility criteria.

I own an Executive Condominium (EC) which is still within the Minimum Occupation Period (MOP). Am I allowed to buy other residential property?

  • No, Executive Condominium owners are not allowed to acquire a share in another residential property/HDB flat within the MOP. If they do so, they will infringe the Executive Condominium Housing Scheme Act and HDB can compulsorily acquire their Executive Condominium unit.

I own an Executive Condominium (EC) which is still within the Minimum Occupation Period (MOP). Am I allowed to buy private commercial/industrial property?

  • Yes, HDB approval is not needed if Executive Condominium owners invest in a commercial/industrial property which does not have housing accommodation.

I have previously sold an Executive Condominium unit which I bought from the developer. Can I buy another Executive Condominium unit?

  • Ex-owners of an Executive Condominium bought direct from the developer would need to meet a five-years period from the date of taking possession of the earlier Executive Condominium unit. In addition, they need to wait out a 30-months period from the effective date of disposal i.e date of legal completion of the sale of their Executive Condominium unit, before they can apply to buy a second Executive Condominium

I was told to wait out a 30-months period from disposal of my Executive Condominium before I can submit my application to buy a new HDB flat, new DBSS or new Executive Condominium unit from the developer. From which date will the 30-months period start running?

  • The 30-months period will start from the effective date of disposal i.e date of legal completion of the sale of the Executive Condominium unit. Only after you have met the 30-months period can you submit your application to buy a new HDB flat, new DBSS, an Executive Condominium unit from the developer or an Executive Condominium unit within MOP.

I am an ex-owner of an Executive Condominium unit bought from the developer and have enjoyed the CPF Housing Grant for the purchase. Do I have to pay a resale levy when I subsequently buy a flat direct from HDB?

  • Yes, you need to pay a resale levy of $55,000 if you subsequently buy a flat direct from HDB. This levy is payable at the point of booking of the HDB flat.

What is the Minimum Occupation Period of an Executive Condominium (EC)?

  • The Minimum Occupation Period of an Executive Condominium unit is five years, starting from the date of issue of the Temporary Occupation Permit (TOP).

When can I sell my Executive Condominium (EC) in the open market?

  • You can sell your Executive Condominium under the following circumstances:

(a) Upon 5 years from the date of issue of the Temporary Occupation Permit (TOP), you can sell your Executive Condominium in the open market to Singapore Citizens or Singapore Permanent Residents (but not foreigners).

(b) Upon 10 years from the date of issue of the Temporary Occupation Permit (TOP), you can sell it to any person(s).

Can I get a loan from HDB to buy an Executive Condominium (EC) unit?

  • The government or HDB does not grant any loan for the buying of Executive Condominium units. Executive Condominium buyers will have to arrange for their own mortgage financing through banks or financial institutions.
  • Before you submit an Executive Condominium application, you may wish to check with:

(a) A bank or financial institution that offers loans for the buying of Executive Condominium.
(b) The CPF Board on the use of your CPF money for mortgage payments.

How are the units under the Executive Condominium Housing Scheme allocated? Will I be granted priority in the allocation for an Executive Condominium units if I am a first-timer?

  • From 2 March 2012, 70% of the units will be set aside for first-timer applicants during the initial launch period of one month.

What is the payment procedure after my Executive Condominium (EC) application has been approved and I have selected an Executive Condominium unit?

  • Upon approval of your application and selection of an Executive Condominium unit:
  • You have to pay a booking fee of 5% of the purchase price of the Executive Condominium.
  • In return, you will be given an “Option to Purchase” by the developer.
  • Within eight weeks from the date of the Option to Purchase:

- You will have to pay the balance of the downpayment. The CPF Housing Grant given to eligible first-timers can be used for the balance payment.
– You will pay the balance of the payments for the Executive Condominium in stages, according to the progress of construction as stated in the Sale and Purchase Agreement.

  • The other payments you will need to pay are:

- the legal fees payable to your solicitors;
– stamp fees;
– registration fees for execution of the legal documents involved in the transaction.

What is the penalty if I were to give up my Executive Condominium unit after I have paid the Booking fee and obtained the ‘Option to Purchase’ but before I execute the Sale and Purchase Agreement?

  • Applicants who give up their Executive Condominium unit before the execution of the Sale and Purchase Agreement will have 25% of the booking fee paid forfeited by the developer.

Can Executive Condominium (EC) owners sublet rooms in their Executive Condominium unit?

  • Yes, Executive Condominium owners are allowed to sublet rooms in their Executive Condominium unit, as long as they continue to occupy the unit and not all rooms are sublet. There is no need to get HDB’s approval.

My Executive Condominium (EC) unit is still within the Minimum Occupation Period. Am I allowed to sublet the whole unit?

  • No. Executive Condominium owners are not allowed to sublet their whole unit except under special circumstances. For example, if the Executive Condominium owners have been posted overseas for work or study, and their family members are accompanying them abroad. In such a situation, the Executive Condominium owners would have to seek written approval from HDB before they can sublet their flat.

I have stayed in my Executive Condominium (EC) unit for less than the Minimum Occupation Period; can I transfer ownership of the unit?

  • Generally, Executive Condominium owners are allowed to do so if they have the written consent of HDB. They can seek approval from the HDB Branch Office managing their Executive Condominium project.

I would like to transfer ownership of my Executive Condominium (EC) unit. How do I do this?

  • Executive Condominium owners must seek HDB’s consent on the eligibility of the transferees and the proposed transfer.
  • Once HDB’s consent has been obtained, the Executive Condominium owners would need to engage their own solicitors for the legal documentation of the transfer.

Why are second-timers not eligible to apply for the CPF Housing Grant?

  • HDB’s financial resources are limited. It has to prioritize its housing subsidies and give them to those who are in greater need for subsidized public housing i.e.first timer families.
  • The CPF Housing Grant is a form of housing subsidy to help eligible first timer families to buy their first HDB flat. The Higher-Tier Family Grant is an extension of the basic Family Grant and is a housing subsidy. Likewise, it would be applicable only to eligible first timer families.
  • Second timer families would have already enjoyed one or more housing subsidies, either in the form of the housing grant or a subsidized flat bought from the HDB.

Can I apply the Additional CPF Housing Grant and the Higher-tier CPF Housing Grant to buy the Executive Condominium Unit?

  • No, the Additional CPF Housing Grant and the Higher-tier CPF Housing Grant are not applicable for the buying of an Executive Condominium unit.

I am eligible for the CPF Housing Grant for the purchase of an Executive Condominium (EC). Is the Grant to be used as part of the cash or CPF downpayment?

  • The CPF Housing Grant, which is given to eligible first-time buyers, will be treated as part of the CPF funds of the buyer. It cannot be used to offset the cash downpayment. It can only be used for the balance of the downpayment.

I would like to use the CPF Housing Grant as part of my CPF downpayment. Will the grant form part of the CPF withdrawal limit?

  • Yes, the CPF Housing Grant is treated as part of your CPF funds and will be included in the CPF withdrawal limit.