To purchase an Executive Condominium (EC) unit from a property developer, it’s crucial to meet specific eligibility conditions. Understand whether a resale levy is applicable and be aware of the post-purchase conditions before applying for an EC unit.
Eligibility Conditions
Core Nucleus
A household’s eligibility for housing subsidies is determined by the core nucleus, consisting of applicants and occupiers. This group must remain in the EC application and during the minimum occupation period (MOP) following the EC unit purchase. The household may comprise one of the following groups:
- You and your fiancé or fiancée.
- You, your spouse, and child(ren).
- You, your parents, and siblings (if unmarried/widowed/divorced SC, at least one parent must be a SC or SPR).
- You and your child(ren) under your legal custody, care, and control (for widowed/divorced persons).
- You and your siblings who are orphans and single (applying together, not owning/renting separately, with at least one deceased parent being a SC or SPR).
- You and up to three other singles as core applicants.
Citizenship
Fiancé, fiancée, married couples, parent(s) with child(ren), orphaned siblings:
- Must be an SC.
- Include at least one other SC or SPR.
Two or more singles:
- All singles applying jointly must be SCs.
Age
- At least 21 years old.
- At least 35 years old if two or more singles are applying jointly.
Monthly Household Income Ceiling
- The total income of all persons listed in the EC application must not exceed $16,000.
- Property developers will guide you on document submissions, such as income documents, during the EC unit booking.
Ownership/Interest in Property in Singapore or Overseas (Other Than HDB Flat)
- No ownership or interest in any local or overseas private property allowed.
- For EC land sales after May 9, 2023, up to one non-residential property is allowed per household at EC application and up to 30 months before EC application.
Previous Housing Subsidies
- If you or any core applicants/occupiers have taken a housing subsidy, you are considered a second-timer and may need to pay a resale levy if applicable.
- If two housing subsidies are taken, you are not eligible to apply or be listed as a core occupier in an EC application.
Ownership/Interest in HDB Flat
- If anyone listed in the application owns or has an interest in an HDB flat, it must be disposed of within 6 months of EC unit purchase completion.
Undischarged Bankrupt
- Prior consent is needed from the Official Assignee (OA) or private trustee for the EC unit purchase.
Wait-Out Periods
- Cancellation of HDB flat booking: Wait one year after cancellation.
- Termination of EC Sale and Purchase Agreement: Wait five years from termination.
- Owners/Ex-owners of EC unit: Wait 30 months from the date of disposal.
These conditions ensure compliance with eligibility requirements for purchasing an EC unit from a property developer.