Eligibility to Buy an Executive Condominium (EC) or Buy Resale Condominium in Singapore: What You Need to Know

Are you dreaming of upgrading from your HDB flat to an executive condominium or resale condominium in Singapore, but not sure about your eligibility?

This guide covers everything you need to know about EC eligibility, HDB rules, family nucleus requirements, income ceilings, resale rules, and more.

Whether you’re planning to buy a new EC, a resale EC, or a private condominium, this article will clarify the eligibility conditions and step-by-step process so you can make an informed decision about your next home.

Article Outline of Eligibility to Buy an Executive Condominium (EC) or Buy Resale Condominium in Singapore: What You Need to Know

1. What is an Executive Condominium (EC)?

An executive condominium (EC) is a hybrid housing type in Singapore, combining features of both HDB flats and private condominiums. ECs are developed and sold by private developers but come with government subsidies and eligibility conditions similar to HDB flats during the first 10 years.

When you buy an executive condo in Singapore, you enjoy facilities comparable to private condominiums—swimming pools, gyms, security, and more—at a lower purchase price.

However, there are strict eligibility criteria for buyers, including citizenship, family nucleus, and gross monthly income limits.

In the initial 5-year minimum occupation period (MOP), the EC unit is subject to HDB rules, which means you must stay in the EC and cannot rent out the entire unit.

2. Why Do People Choose Executive Condos Over Private Condominiums?

The main appeal of buying an EC is affordability. A new executive condominium typically costs less than a similar-sized private condominium because of government subsidies and the CPF housing grant.

EC buyers also benefit from various housing subsidies and may qualify for CPF housing grants if they meet the eligibility criteria to buy. After 10 years from the Temporary Occupation Permit (TOP), the executive condo becomes fully privatised and can be sold to anyone, including foreigners, without restrictions.

While private condominiums have no eligibility conditions, the initial cost of an EC is usually lower, making it an attractive first step for many Singaporean families aspiring toward private property ownership.

3. Basic EC Eligibility Criteria: Who Can Apply?

To apply for a new EC unit in Singapore, you must meet several key eligibility conditions:

• Citizenship: At least one applicant must be a Singapore citizen; the other must be either a Singapore citizen or a Singapore permanent resident.
• Family Nucleus: You must form a family nucleus, such as married couples, fiancé-fiancée pairs, or multi-generational families.
• Age: Applicants must be at least 21 years old (35 for singles under certain schemes).
• Income Ceiling: Your gross monthly income must not exceed $16,000.
• Ownership: You cannot own any other private properties in Singapore or overseas within the last 30 months.

These EC eligibility criteria are strictly enforced by HDB and the executive condominium housing scheme.

4. What Makes Up a Family Nucleus for EC Application?

A family nucleus is essential when applying for an EC unit. The most common types include:

• Married Couple: Husband and wife.
• Fiancé-Fiancée Scheme: Engaged couples who plan to marry within three months of taking possession of the EC.
• Multi-Generation Family: Parents with children.
• Orphan Scheme: Siblings who are orphans and single.

Everyone listed in the application must continue to be part of the family nucleus throughout the process. If your family nucleus changes after submitting the EC application, your eligibility may be affected.

5. Income Ceiling for Buying a New EC: How Much Can You Earn?

To buy a new executive condo in Singapore, your average gross monthly income must not exceed $16,000 as of 2024. This income ceiling applies to all applicants listed in the ec application.

Gross monthly income includes all basic salaries plus regular allowances such as overtime pay and bonuses. If your household income exceeds this ceiling, you will not qualify to buy a new executive condominium but may still buy resale units or private condominiums.

It’s crucial to check your eligibility based on your latest payslips and supporting documents before applying.

Other Related Articles:

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6. Can You Buy an EC If You Currently Own an HDB Flat?

If you currently own an HDB flat, you must dispose of it before taking possession of the new EC unit. This rule ensures that subsidised housing benefits are fairly distributed among Singapore citizens.

There is also a wait-out period—if you have sold an HDB flat, DBSS flat or EC less than 30 months before your application to buy an EC, you are not eligible until this period has passed.

This rule prevents buyers from owning two subsidised units at once (such as both an HDB flat and an executive condo). The same rule applies if you previously bought an EC or received housing subsidies.

7. What is the Minimum Occupation Period (MOP) for ECs and HDB Flats?

The minimum occupation period (MOP) is five years for both new HDB flats and new ECs. During this MOP:

• You must physically stay in the EC unit.
• You cannot sell your EC, rent out the entire unit (subletting rooms is allowed), or buy another subsidised flat from HDB.
• The MOP starts from the date of possession of the EC unit (usually when you collect keys).

After fulfilling the MOP, you can sell your EC on the open market—although only to Singapore citizens or permanent residents until 10 years have passed from TOP.

8. Applying for a New EC: Step-by-Step Guide

Here’s how to apply to buy an EC:

1. Check Your Eligibility: Confirm you meet all citizenship, income ceiling, and family nucleus requirements.
2. Ballot and Book an EC Unit: Submit your application during the e-application period and ballot for a chance to book an EC unit.
3. Submit Required Documents: Provide proof of income, identity documents, marriage certificates (if applicable), and any other items listed in the application checklist.
4. Choose Your Unit: Attend the selection exercise if invited; select your preferred ec unit from the available pool.
5. Sign Sales Agreement & Pay Required Fees: Complete the purchase process, including option fee and down payment, using CPF savings if eligible.
6. Take Possession of the EC Unit: Once construction is complete and you will receive notice from your developer.

Remember that your ec application must continue listing all eligible applicants throughout this process.

9. CPF Housing Grant and Subsidies for EC Buyers

Eligible buyers can receive a CPF housing grant when they buy a new executive condominium. The grant amount depends on your household income:

• Families with lower average gross monthly income receive higher grants.
• The grant can help offset part of your purchase price.
• Note: Grants are only available for new executive condos purchased directly from developers, not resale ECs or private condominiums.

You’ll need to submit supporting documents as part of your application to buy an ec unit to qualify for these grants.

10. Buying a Resale EC: How Is It Different from New ECs?

Resale ecs are executive condominiums that have passed their five-year minimum occupation period (and possibly even their ten-year privatisation mark). Key differences include:

• No income ceiling: Anyone can buy a resale EC regardless of monthly income.
• No family nucleus requirement: Singles can buy resale ECS.
• No CPF Housing Grant: Subsidies are not available for resale ECS.
• Resale levy may be payable if you previously bought another subsidised flat or EC.

This makes resale ECS accessible to more buyers, including those who don’t meet the new EC eligibility criteria.

Other Related Articles:

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11. Eligibility Conditions for Buying Resale ECs and Condominiums

For resale EC (after MOP):

• The buyer must be a Singapore citizen or permanent resident.
• No need to form a family nucleus.
• No income ceiling requirements.
• No restrictions on owning other properties.

For private condominiums, there are no eligibility conditions except that foreigners can also purchase them—there’s no need for a family nucleus or income checks.

12. Buying a Private Condominium vs Executive Condo: Key Differences

Here’s how buying a private condominium compares with buying an executive condominium in Singapore:

This comparison helps buyers choose between buying an EC unit or upgrading directly into private property.

13. What is a Resale Levy and When Do You Need to Pay It?

If you buy a second subsidised flat from HDB, including an EC, you may need to pay a resale levy. This applies if:

• You previously bought a subsidised HDB flat before applying for an EC.
• You’re buying another EC unit as your second subsidised home.
• The amount depends on your first property type (HDB flat or DBSS at or EC).

Resale levy is payable when you take possession of your new executive condo or HDB flat.

14. Can You Own More Than One HDB Flat or EC?

You cannot own more than one subsidised flat or EC at any time. If you wish to buy another EC unit or HDB flat from HDB, you must dispose of your existing subsidised property before applying.

Additionally:

• Private properties cannot be owned at the time of application or within the last 30 months.
• After fulfilling the MOP on your current flat or EC, you may apply for another, but must sell your existing unit first.

This policy ensures the equitable distribution of housing subsidies among all Singapore citizens.

15. Common Pitfalls: What to Watch Out For When Buying an EC

Some common pitfalls when buying an executive condo include:

• Failing to check all eligibility conditions before applying—this can result in disqualification and loss of booking fees.
• Not understanding the implications of the minimum occupation period—moving out or renting out too soon can lead to penalties.
• Overlooking the need to pay a resale levy if you previously owned another subsidised flat or EC.
• Assuming CPF housing grants apply for resale ECS—they don’t!

Always consult official HDB guidelines and double-check your eligibility before proceeding with any EC application.

Key Takeaways

• An executive condominium offers private facilities at lower prices but comes with strict eligibility criteria during its initial years.
• Key eligibility conditions include citizenship, forming a family nucleus, staying within income ceiling limits, and no ownership of other properties within the last 30 months.
• Resale ECs have relaxed rules but do not qualify for housing grants or subsidies.
• Minimum occupation period (MOP) for both HDB flats and new ECs is five years.
• A resale levy may apply if you’re buying another subsidised property.
• Always check your latest status with HDB before committing to any purchase—eligibility mistakes can be costly!
• Private condominiums have no such restrictions but come at higher entry costs.

With these tips in mind, you’ll be better prepared to navigate your next purchase—whether it’s a new executive condo, resale EC, HDB resale flat, or private condominium—in Singapore’s competitive property market!

Q: What are the executive condo eligibility criteria to purchase an EC in Singapore?

A: To purchase an EC in Singapore, you must meet several executive condo eligibility criteria, including being a Singapore citizen, forming a family nucleus, meeting the income ceiling, and not owning any private property within the last 30 months.

Q: Can I buy an executive condo if I already own a resale HDB flat?

A: Yes, you can buy an executive condo if you own a resale HDB flat, but you must sell your HDB flat within six months of receiving the Temporary Occupation Permit for the EC. Additionally, you must meet the eligibility conditions to buy the EC.

Q: Is there a resale levy payable when buying an executive condo in Singapore?

A: Yes, if you are buying an executive condo in Singapore and have previously received a housing subsidy, you may be required to pay a resale levy. The exact amount depends on the type of flat you previously sold.

Q: What is the minimum occupation period for an EC before I can sell my EC unit?

A: You must occupy your EC for at least five years from the Temporary Occupation Permit date before you can sell your EC unit on the open market. This is known as the Minimum Occupation Period (MOP).

Q: Can I apply to buy an executive condo if I have previously purchased an HDB flat or another EC?

A: Yes, you may apply for an EC even if you have previously purchased an HDB flat or another EC, as long as you meet the executive condo eligibility criteria, including the requirements for the resale levy and the MOP.

Q: Are dual-key EC units available for purchase, and who qualifies for them?

A: Dual-key EC units are available for purchase, typically catering to multi-generational families. To qualify, you must meet the standard executive condo eligibility criteria and have a family nucleus that includes a parent-child or married couple arrangement.

Q: What documents are required to be submitted during the EC selection process?

A: During the EC selection process, you need to submit documents proving your family nucleus, citizenship, income, and any other documents required by the developer. These are necessary to verify your eligibility to buy an executive condo.

Q: How does the income ceiling affect my eligibility to buy an executive condo in Singapore?

A: The income ceiling is a crucial part of the eligibility conditions to buy an executive condo in Singapore. As of the latest guidelines, your household income must not exceed a specific limit, which is periodically updated by the authorities.

Q: What happens if I do not meet the executive condo eligibility criteria?

A: If you do not meet the executive condo eligibility criteria, you will not be able to proceed with the purchase of an EC. It is important to review the criteria carefully and ensure all conditions are met before applying.

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