Executive Condo Eligibility
Firstly, you must be able to form a family nucleus by qualifying via the following schemes.
- Public Scheme
- Fiance/Fiancee Scheme
- Orphans Scheme
- Joint Single Scheme
Citizenship
All applicants must be 21 years old and above. At least 1 applicant must be Singapore Citizen (SC), and the other can be Singapore Permanent Resident (SPR). Except for the Joint Single Scheme, which requires all applicants to be SCs and a minimum of 35 years old.
Income Ceiling
Combined monthly household income must not exceed S$16,000.
Other Eligibility Criteria
- All applicants and essential occupiers listed in the purchase must not own any private properties locally or overseas. All private properties must be disposed of 30 months before applying for the executive condo.
- All applicants and essential occupiers listed must not have bought 2 subsidised housing.
- Applicants would be subjected to prevailing resale levy if a housing subsidy had been used before.
| First Subsidised Housing Type | Households | Recipient of Single Housing Grant |
|---|---|---|
| 2-Room/2-Room Flexi Flat | S$15,000 | S$7,500 |
| 3-Room Flat | S$30,000 | S$15,000 |
| 4-Room Flat | S$40,000 | S$20,000 |
| 5-Room Flat | S$45,000 | S$22,500 |
| Executive Flat | S$50,000 | S$25,000 |
| Executive Condominium | S$55,000 | NA |
CPF Housing Grant
With new Executive Condominiums’ prices increasing, those eligible may apply for additional CPF Housing Grant to cushion the effect. Regardless of not applying for the CPF Housing Grant, even if you qualify, you will still be considered as applying for subsidised housing. So you might as well apply for it if you qualify.
| Gross Monthly Income^ | SC/SC | SC/SPR | 1st Timer/2nd Timer |
|---|---|---|---|
| S$10,000 & Lower | S$30,000 | S$20,000 | S$15,000 |
| S$10,001 to S$11,000 | S$20,000 | S$10,000 | S$10,000 |
| S$11,001 to S$12,000 | S$10,000 | NA | S$5,000 |
| S$12,000 to S$16,000 | NA | NA | NA |
SC/SPR households may apply for a Citizen Top-Up Grant of S$10,000 when the SPR member obtains Singapore Citizenship or have an SC Child in the household.
⚠️ Did you know?
CPF Housing Grant that is disbursed will accrue 2.5% interest per annum. Depending on how long you are holding on to your property, you will return the principal plus accrued interest to your CPF account when you sell your property.Conditions (After Owning EC)
- There is a Minimum Occupancy Period (MOP) of 5 years which is the same as HDB rules. You can sell or rent the whole unit at the end of MOP.
- During the MOP, the Applicants and Essential Occupiers cannot procure any private residential property locally or overseas. So what if you do right? Well, it will be on you if HDB finds out. 🤫
- If you buy another subsidised housing after selling your EC, you must pay a resale levy of S$55,000. This applies to the 1st Timer if you plan to buy another EC or an HDB flat later. It doesn’t make economic sense, though, as the resale levy could be used more effectively elsewhere.
If you are interested in upcoming Executive Condominiums, do check out Copen Grand in Tengah and Tenet in Tampines!