2. New Executive Condominiums (ECs) Aside from new BTO flats, single PRs are also not eligible to buy new executive condominiums (ECs). However, like BTO flats, you can buy a new EC if you’re buying with a Singaporean spouse.
Can Singapore PR buy resale EC?
You must be a Singapore Citizens (SC) or Singapore Permanent Residents (SPR) in order to buy a EC from 6th year occupation period. You need not to form a family nucleus to buy a EC from the open market. For e.g. a single person SC or SPR above 21 can buy a EC from the open market.
Can a single PR buy EC?
Can Single PR Buy Resale EC After 5 Years? Yes, you can buy a resale EC after MOP.
Can Singapore PR buy resale executive condominium?
If you are a Singaporean or PR, you can buy a resale EC from the open market after the 5-year Minimum Occupation Period (MOP), from the 6th to 10th year. If you are a foreigner, you can buy an EC only after the 10th year.
How can I buy EC in Singapore?
How to Buy an EC in Singapore: A Step-by-Step Guide
- Step 1: Check Your Eligibility. …
- Step 2: Sort Out Your Finances. …
- Step 3: Pick an EC Project. …
- Step 4: Submit Your Application. …
- Step 5: Book Your Flat. …
- Step 6: Hire a Conveyancing Lawyer, Secure Your Loan and the Letter of Offer.
Is it worth to buy resale EC?
As mentioned above, a resale EC has many advantages over a new EC: It is closer to full privatisation, has less restrictive eligibility criteria, offers you the option to keep your old HDB flat, and is usually move-in ready. On the flip side, it can be more expensive as there are no CPF housing grants for resale ECs.
How much does it cost to buy resale EC?
For resale ECs:
You need to make a minimum down payment of 25 per cent of the property. In addition, the first five per cent of the property must be paid in cash. So with regard to a $1.04 million EC, for instance, you would pay at minimum $52,000 in cash, and $208,000 in any combination of cash or CPF.
Can a divorcee buy EC?
Divorcees are able to purchase an Executive Condominium under the “public scheme” with children under legal custody, care and control.
Can I buy EC if I own HDB?
Hi if you have fulfilled your MOP for your HDB, you can purchase a partially privatised EC and still keep your HDB. … You can purchase either and still keep your HDB. However if you choose to purchase a BRAND NEW EC, then NO, you will have to sell your HDB within 6 months of collection of your keys to your BRAND NEW EC.
Can a single 35 buy an EC?
As with public housing, EC applicants must either form a family nucleus or join up with other singles if they are at least 35 years old. They must also not exceed the household income ceiling of S$14,000. Only Singaporean couples and Singaporean/permanent resident couples can buy an EC unit.
How much does a 3 bedroom EC cost?
And a 3-Bedroom Premium (1,001 – 1,098 SQFT) Executive Condo in the same estate, The Criterion EC, is selling between $740,800 and $836,000. By comparison, the price of an Executive Condo is easily 2 to 3 times that of a BTO.
Can PR buy resale?
Can a PR buy a BTO flat? No, a PR is only allowed to buy a resale HDB flat.
Do I need to be married to buy resale EC?
For resale EC, it is like any other private property, you can purchase alone and there is no requirement for you to purchase as a couple. If you own an overseas property, you will need to seek a waiver if you were to purchase a NEW EC.