This guide may come in handy for all those who would like to purchase an Executive Condominium. Executive Condominium, or EC for short, are a type of housing in Singapore. First built in 1994, EC is a hybrid between public (government subsidised) and public housing. They resemble private condominium developments and are enclosed within a guarded and gated compound just like most normal private condominiums. Developers who build ECs can only sell them to Singaporeans. After the initial buyer has stayed in the unit for five years, he can then sell his EC to a Singaporean or a Singapore Permanent Resident. Once the development reaches ten years old, it can be sold to foreigners as well.
Overview of eligibility conditions
Family nucleus | You will need to qualify for the EC under one of these eligibility schemes: - Public Scheme - Fiancé/Fiancée Scheme - Orphans Scheme - Joint Singles Scheme |
Citizenship | - You must be a Singapore Citizen - At least 1 other applicant must be a Singapore Citizen or Singapore Permanent Resident - All singles must be Singapore Citizens if applying under the Joint Singles Scheme |
Age | - At least 21 years old - At least 35 years old, if applying under the Joint Singles Scheme |
Income ceiling | Your household income must not exceed the $14,000 income ceiling. |
Property ownership | - You do not own other property overseas or locally, or have not disposed of any within the last 30 months - You have not bought a new HDB/ DBSS flat or EC, or received a CPF Housing Grant before; or, have only bought 1 of these properties/ received 1 CPF Housing Grant thus far |
Public Scheme
You form a family nucleus with any of the following:
No change of people listed in the application
Applications under this scheme are only valid if there are no changes to the people listed – you are not allowed to replace your parents’ names with that of a spouse, or vice versa.
If applying for a dual-key EC as a multi-generation family
A multi-generation family is any of the following:
Fiancé/Fiancée Scheme
You form a family nucleus with your spouse-to-be.
Submission of marriage certificate
Under this scheme, you need to submit a copy of your marriage certificate to the developer.
If You: | Submit Copy of Marriage Certificate: |
Applied for a CPF Housing Grant | Before taking possession of your EC |
Did not apply for a CPF Housing Grant | Within 3 months of taking possession of your EC |
Written parental consent needed if spouse-to-be is 18 years old and above, but below 21
Special Marriage Licence needed if spouse-to-be is below 18 years old
Following your flat application, you must obtain a Special Marriage Licence from the Ministry of Social and Family Development and submit it to us during the EC selection appointment.
No change of people listed in the application
Applications under this scheme are only valid if there are no changes to the people listed. That means that, in cases of break-up, you are not allowed to later put in the name(s) of a new spouse-to-be or of your parents in the application, even if the previous spouse-to-be agrees.
If applying for a dual-key EC as a multi-generation family
A multi-generation family is any of the following:
Orphans Scheme
You and your siblings (those applying) are orphans and single (unmarried, divorced, or widowed)
Note that under the Orphans Scheme, siblings are not allowed to buy or rent flats separately.
Joint Singles Scheme
You and up to 3 other co-applicants, and all of you are:
The CPF Housing Grant for singles is not available when buying an EC.
Your average gross monthly income must not exceed $14,000.
Income documents to prepare
You and any other applicants and essential occupiers will need to prepare:
Specific documents are needed depending on your nature of employment. Also, please note that some forms of income/ allowance are not included when assessing your household income.
Aside from these documents, the developer may also request further documentation if needed.
Nature of Employment | Documents to Submit | Notes |
Employed person | - Latest 3 months’ payslips, i.e. month of application and preceding 2 months or - Letter from employer certifying salaries for the month of application and the preceding 2 months; the letter must contain the: - Company stamp/ letterhead - Certifying officer’s name, signature, and designation | - Assessment is based on the average gross monthly income, which: - Excludes bonuses and income earned from overtime work - Includes allowances (fixed/ variable) received on a regular basis (e.g. allowances for food, transport, laundry, uniform, etc) - Notice of Assessment (NOA) from the Inland Revenue Authority of Singapore (IRAS) is not accepted |
Self-employed person | - Latest NOA from IRAS or Statement of Annual Accounts certified by an audit firm and - Valid Accounting and Corporate Regulatory Authority (ACRA) Computer Information (Business Profile) or valid licence of trade | Assessment is based on the average gross monthly income for the past 12 months |
Part-time worker | - Latest 12 months’ payslips or - Letter from employer certifying salaries for the last 12 months; the letter must contain the: - Company stamp/ letterhead - Certifying officer’s name, signature, and designation | Assessment is based on the average gross monthly income for the past 12 months |
Commission-based person | - Latest 12 months’ commission statements/ payslips or - Letter from employer certifying salaries for the last 12 months; the letter must contain the: - Company stamp/ letterhead - Certifying officer’s name, signature, and designation | Assessment is based on the average gross monthly income for the past 12 months |
Odd job worker | Latest NOA from IRAS And Previous year’s NOA from IRAS | Assessment is based on the average gross monthly income for the past 12 months |
Unemployed person (between 18 to 62 years old) | - Statutory Declaration to declare the employment status or valid Student Pass if currently a full-time student - If unemployed for less than 3 months, the following documents are required: - Income proof for the preceding months from the previous employer stating their gross monthly income and last day of service - Latest 15 months’ CPF contribution history | - The Statutory Declaration can be executed at the HDB Hub Loans Counter or any HDB Branch. Declarants are required to bring along their Identity Cards - If not in Singapore, the Statutory Declaration can be made in the presence of a Commissioner for Oaths or Notary Public for that country |
Income/ allowance that will be considered for the income ceiling
Income/ allowance not considered for the income ceiling
You need to obtain the consent of the Official Assignee if you are applying for an EC. There is no need to do so if you are to be listed as an essential occupier.
First-timer applicant
First-timers enjoy privileges and priority in flat allocation.
Yours will be treated as a first-timer application if you and any of the other listed owners and essential occupiers meet the following criteria:
If you are a second-timer and your spouse/ spouse-to-be is a first-timer, you will be glad to know that you and your spouse/ spouse-to-be will enjoy first-timer privileges and priority as a couple.
Second-timer applicant
Yes. There are instances where you may need to wait out a set time period before you can apply or be listed in the application for a new EC. This usually happens when someone:
MOP requirements: current owner of a flat/ EC
Before applying for the new EC, do you or any other flat applicants and essential occupiers to be listed in the flat application own any of these?
If so, that person must have already met that flat/ EC’s 5-year MOP before being allowed to apply for a new EC.
In the case of current/ prior EC ownership, you must also wait out a 30-month period from the EC’s effective date of disposal as evidenced by your Notice of Transfer, or any other such documentation requested.
Type of Property Owned | Time Period Before You Can Apply for a New EC |
- HDB flat bought from HDB - Resale flat bought with a CPF Housing Grant - DBSS flat bought from the developer | MOP of 5 years |
EC bought from the developer | MOP of 5 years + 30 months from date of EC disposal |
MOP requirements: essential occupier of a flat/ EC
An essential occupier of the following must have already met that flat/ EC’s 5-year MOP before being allowed to be listed in a new EC application, whether as an owner or essential occupier:
Essential Occupier In: | Time Period Before You Can Apply for a New EC |
- HDB flat bought from HDB - Resale flat bought with a CPF Housing Grant - EC/ DBSS flat bought from the developer | MOP of 5 years |
Divorcee
In case of a divorce, conditions will apply for the following types of property:
3-year wait-out period
Exception
There is no need for any 3-year wait-out period or undertaking if you are:
Assistance
For flat applications, priority flat allocation can be given under our Assistance Scheme for Second-Timers (Divorced/Widowed Parents) (ASSIST).
Cancelled an HDB flat application after booking a flat
If you booked a new HDB flat and subsequently cancel your booking, you must wait out a 1-year period from the date of the cancellation before you can apply or be listed as an essential occupier of a:
Terminated the Sale and Purchase Agreement for an EC/ DBSS flat
If you had previously bought a DBSS flat/ EC using a CPF Housing Grant and subsequently terminated the Sale and Purchase Agreement, you must wait out a 5-year period from the date of the termination before you can apply or be listed as an essential occupier of an EC.
No, you may not. For an EC flat application, all the listed owners and essential occupiers must not own, dispose, or have an estate or interest in any other local or overseas property:
The properties considered in this instance include but are not limited to:
Yes, provided that you only own/ owned 1 of the following units prior to your application:
In essence, an eligible Singapore Citizen is allowed to buy the above properties twice in total, not twice per type of property.
If you have already bought 2 such properties, you will not be eligible to apply for an EC or be listed as an essential occupier in an application.
Source: www.hdb.gov.sg
You may be keen in the following Executive Condominiums.
Do visit the various links to know more about the various executive condominiums on offer.
Yours Sincerely,
Daryl Lum
www.daryllum.com
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