HDB ELIGIBILITY Criterion
To buy a new Executive condominium (EC), you must meet HDB’s eligibility criterion. If you need help to assess your eligibility, please email us your query.
Source: HDB web site (www.hdb.gov.sg)
- Main applicant must be a Singapore Citizen
- Family nucleus in the application must have at least one other Singapore Citizen or
- Permanent Resident
- All applicants must be at least 21 years old at time of applying for the EC
- If applying under the Joint Singles Scheme, both must be at least 35 years old
Family Nucleus Criterion
You must form a family nucleus under one of the schemes listed here:
- Public Scheme
You (the applicant) and;
– Your spouse, and children (if any)
– Your parents, and siblings (if any)
– Your children under your legal custody (if you’re widowed or divorced)
- Fiance/Fiancee Scheme
You (the applicant) and your fiancee/fiance
- Orphan Scheme
You (the applicant) and;
– Your unmarried brothers/sisters, or
– Another single unrelated orphan
- Joint Singles Scheme
You (the applicant) and another single person
Income Ceiling Criterion
- Your total monthly household income must not exceed SGD$12,000
Ownership of Private Property Criterion
You, your spouse, & any occupiers in this application, and their spouses, must not own or have disposed of, or have any part 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 EC unit
Owners/Ex-owners of HDB flats / DBSS flats / EC units
Each Singaporean household is allowed to buy the following housing types only twice:
- a flat directly from HDB;
- a resale flat with the CPF Housing Grant;
- a DBSS flat from a developer;
- an EC apartment from a developer.
If you’ve already bought two such apartments, you cannot apply for, or be listed as an essential occupier in an application to buy an EC.
Definition of First-timer Applicants Criterion
You and any essential family members listed in your application to buy the flat do NOT:
- Own a flat bought direct from HDB, DBSS flat or Executive Condo bought from developer
- Have sold a flat bought direct from HDB, DBSS flat or Executive Condo bought from developer
- Have received the CPF Housing Grant for the purchase of an HDB resale flat
- Have enjoyed other forms of housing subsidy (eg. SERS, privatisation of HUDC estate, etc)
70% of the units are set aside for first-timers during the initial launch period.
Definition of Second-timer Applicants Criterion
You or the essential family members in your application have owned/sold or are currently owners
- 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 EC bought from the developer, or
- Have enjoyed other forms of housing subsidy (eg. SERS, privatisation of HUDC estate etc.)
Second-timers buying Executive Condominiums are not required to pay a Resale Levy
Existing Owner or Ex-Owner Criterion
- Flat bought directly from HDB
- DBSS flat bought from the developers
- Resale flat bought under the CPF Housing Grant Scheme
If you belong to any of the above categories, you may apply to buy an EC on condition that a 5-year period (excluding any period of subletting of the whole flat) has lapsed from the #date of taking possession of the flat to the date of application for the EC.
# The date of taking possession refers to following dates:
- Date of key collection, for flats that are bought direct from HDB
- Date of resale completion, for resale flats bought from open market with CPF Housing Grant
- Date of transfer at market value of the flat bought with CPF Housing Grant
- Date of key collection for EC/DBSS flats bought from the developer
Ex-owners of an EC
Are you, your spouse or any of the essential occupiers listed in the application an ex-owner of an Executive Condominium bought directly from the developer? If yes, you would need to wait 5 years from the date of taking possession of the earlier Executive Condominium before applying for the EC.
In addition, you need to wait out a 30-month period from the effective date of disposal (i.e., date of legal completion of the sale of your Executive Condominium, evidenced by the Notice of Transfer or such other documentary evidence as HDB may require) of the Executive Condominium before you can apply to buy an Executive Condominium unit from the developer.
Essential Occupiers Criterion
Any person applying to buy the EC or be listed as an occupier must not currently be listed as an essential occupier of:
- An existing HDB flat bought directly from HDB,
- A DBSS flat bought under the CPF Housing Grant Scheme, or,
- A resale flat bought under the CPF Housing Grant Scheme
However, you may be eligible if you have stayed in the existing flat for at least 5 years from the #date of taking possession of the existing flat to the date of application for a new flat.
A divorcee may apply to buy a unit or be listed as an occupier after 5 years from the date the divorce is made absolute to the date of application for a new flat if his matrimonial flat was:
- Bought directly from HDB,
- A DBSS flat bought under the CPF Housing Grant Scheme, or
- A resale flat bought from open market under the CPF Housing Grant Scheme
However, the 5 years period will not apply if:
– The matrimonial flat was bought from the open market without any CPF Housing Grant
– Applicant is applying for the flat with parents or new spouse
Person Who Has Bought an EC/DBSS Flat with CPF Housing Grant
A person who bought an EC or DBSS flat with CPF Housing Grant and terminated the Sale and Purchase Agreement may apply to buy an executive condominium.
However, this is allowed on the condition that a 5-year period has lapsed from the termination date of the Sale & Purchase Agreement of their earlier EC or DBSS flat purchase, to the date of application for the EC.
CRITERION AFTER PURCHASE OF AN EXECUTIVE CONDOMINIUM
Selling of current HDB / DBSS flat in the open market
If you currently own an HDB / DBSS flat, you and/or your spouse must dispose of the flat within 6 months from the date of issuance of the Temporary Occupation Permit in respect of the new EC.
If you intend to apply to purchase an EC where the Temporary Occupation Permit for the EC has been issued, you will be required to dispose of your existing HDB / DBSS flat within 6 months from the date the Developer sends you the Notice of Vacant Possession.
Enjoyment of Subsidy
You and your spouse will be considered as having enjoyed a housing subsidy when you buy the executive condo unit from the developers under the CPF Housing Grant Scheme.
Minimum Occupation Period (MOP)
Sale of your Executive Condominium
You have to occupy your EC unit for at least 5 years before you can sell it in the open market.
Essential occupiers in the Executive Condominium
Occupiers who are essential in forming a family nucleus with you in the EC application must continue to be listed in the application and stay in the EC during the 5-year minimum occupation
They cannot make a separate application, or be listed as occupiers in another application to buy an HDB flat or another EC within the MOP.
Buying another subsidised housing
If you sell your EC unit in the open market, you must wait for 30 months after the sale before you can submit an application to buy:
- a new flat from HDB
- an apartment under Design, Build and Sell Scheme (DBSS) from developers
- another EC from developers
Resale Levy Criterion
You are liable to pay a resale levy of $55,000 when you buy a second subsidised flat from HDB or take over ownership of a subsidised HDB flat after selling your EC if you bought it under the CPF Housing Grant Scheme (after meeting the 5-year Minimum Occupation Period (MOP) and the 30-month period).
If you do not intend to buy a second subsidised flat from HDB, for ex ample, if you are buying a resale flat, a new DBSS flat, an EC from the developer, or a private residential property, you need not pay the resale levy.
Interest in Private Property
You cannot invest in private residential property (either locally or overseas) during the 5-year minimum occupation period.
Source: HDB web site