Executive Condominium Application

You must meet the following conditions to buy an Executive Condominium:

 

Citizenship

  • You must be a Singapore Citizen
  • Your family nucleus must comprise at least another Singapore Citizen or Singapore Permanent Resident.

 

Age

  • You must be at least 21 years old at the time of application
  • If you are buying an Executive Condominium (EC) under the Joint Singles Scheme, you must be at least 35 years old

 

Family Nucleus

You must form a proper family nucleus under one of the following schemes:

Type of Scheme Family Nucleus Requirement
Public You, the applicant and;

  • Your spouse, and children (if any)
  • Your parents, and siblings (if any)
  • Your children under your legal custody, care and control (for widowed/ divorced)
Fiancé/FiancéeAdditional Information You, the applicant and your fiancé/fiancée
OrphanAdditional Information You, the applicant and;

  • Your unmarried siblings, or
  • Another single unrelated orphan
Joint SinglesAdditional Information You, the applicant and another single person

You may buy a dual-key EC units offered by the developer if you form a multi-generation family as follows:

(i) Married couple with parents/grandparents
(ii) Fiancé and fiancée couple with parents/grandparents
(iii) Widowed/divorced with children and parents/grandparents

Income Ceiling

Your average gross monthly household income must not exceed $12,000.

More information on the income guidelines

 

Special Requirement for Undischarged Bankrupts

Undischarged bankrupts need to seek the Official Assignee (OA)’s consent if they are applying for an Executive Condominium. However, they do not need to seek the OA’s approval to be listed as an occupier.

 

Ownership in Private Property

You, your spouse, any occupiers listed in the Application Form or their spouses must not own or dispose or have an estate or interest in any other flat, house, building or land*

  • Within 30 months before the date of application, and
  • Between the application date and the date of taking possession of the Executive Condominium

* includes but not limited to:

  • HUDC flats (Privatised and Non-Privatised)
  • Properties acquired by gift
  • Properties inherited as beneficiaries under a will or as a result of the Intestate Succession Act
  • Private properties
  • Properties owned/acquired/disposed through nominees regardless of properties location

 

Owners/Ex-owners of HDB flats / DBSS flats / EC units

Each eligible Singaporean household can buy the following housing unit only twice:

  • a flat from the HDB;
  • a resale flat with the CPF Housing Grant*;
  • a DBSS flat from developer;
  • an Executive Condominium unit from developer.

*Only applicable for first-timer applicants

If you have already bought two housing units, you will not be eligible to apply or be listed as an essential occupier in an application.

 

First-timer Applicants

You and the essential family members listed in the application for purchase of the flat must not:

  • Be the owners of a flat bought direct from HDB, a DBSS flat or an Executive Condominium bought from the developer
  • Have sold a flat bought direct from HDB, a DBSS flat or an Executive Condominium bought from the developer
  • Have received the CPF Housing Grant for the purchase of an HDB resale flat
  • Have taken other forms of housing subsidy (for example, benefitted under the Selective En bloc Redevelopment Scheme, privatisation of HUDC estate etc)

 

Higher Quota of the Executive Condominium Supply for First-time Applicants during Initial Launch Period
From 2 March 2012, the developers will set aside 70% of the supply for first-timers during the initial launch period.

 

Second-timer Applicants

You or the essential family members listed in your application have owned/sold or are currently owners of:

  • Any HDB flat that was bought from HDB, or
  • Any resale flat that was bought under the CPF Housing Grant Scheme, or
  • A DBSS flat or an Executive Condominium bought from the developer, or
  • Have enjoyed other forms of housing subsidy (for example, enjoyed benefits under the Selective En bloc Redevelopment Scheme, privatisation of HUDC estate etc.)

 

Second-timers not required to Pay Resale Levy
The resale levy will not apply to new Executive Condominium projects which are launched from 2009 onwards, after the La Casa.

 

CPF Housing Grant (if eligible)

The CPF Housing Grant is a housing subsidy provided by the government to eligible buyers of new flats. The CPF Housing Grant (in the form of CPF Monies and not cash) can be used for the initial payment or to reduce the mortgage loan for the flat purchase. The grant assists eligible first-timer family to buy an Executive Condominium from the developer.

If you are buying a flat with remaining lease less than 30 years, you will not be eligible for any CPF Housing Grant.

 

Amount of Grant for Executive Condominium Buyers

Average Gross Monthly Household Income 

Amount

SC / SC Household

SC / SPR Household

Half Housing Grant

up to $10,000

$30,000

$20,000#

$15,000

from $10,001 to $11,000

$20,000

$10,000#

$10,000

from $11,001 to $12,000

$10,000

$0#

$5,000

# If you are from an SC/SPR household, you can apply for the Citizen Top-Up when your SPR family takes up Singapore Citizenship or when you have an SC child.

 

What is needed for Executive Condominium application ?

You need to bring along the following documents for application at the show flat :

  • NRIC of all applicants
  • Birth Certificate
  • Marriage Certificate
  • Latest Income Statements*

*  Salaried Personnel – Latest 3 months’ income statements
*  Commission-based Personnel – Latest 12 months’ income statements
*  Self-employed Personnel – Latest Notice of Assessment from IRAS

 

Source : HDB InfoWeb