What are the eligibility criteria for purchasing an EC?
To buy an EC, you must be a Singapore citizen, form a family nucleus, and meet the income ceiling of $16,000 per household. You also cannot own any private property within the last 30 months.
What is the difference between an EC and a private condominium?
ECs are a hybrid between public and private housing. They are initially sold at a lower price compared to private condos due to government subsidies, but after 10 years, they become fully privatized.
What is the Minimum Occupation Period (MOP) for an EC?
You must occupy your EC for at least 5 years before selling it on the open market.
How does the balloting system work for EC?
When an EC is launched, interested buyers will submit their E-Applications, and a queue number will be assigned through a balloting process.
When does an EC become fully privatized?
An EC becomes fully privatized after 10 years from the date of the Temporary Occupation Permit (TOP). After that, it can be sold to foreigners just like private property.
What are the expected maintenance fees for an EC?
Maintenance fees for EC vary depending on the size of the unit and the facilities available, but they generally range from $300 to $500 per month.
What facilities will be available for EC?
EC typically offer a range of facilities similar to private condo, such as swimming pool, gym, tennis court, BBQ pit, and function room.
What is the timeline for completion and key handover?
After purchasing an EC, you can expect to receive your keys around 3 to 4 years later, once the development is completed and the Temporary Occupation Permit (TOP) is issued.
Can I use CPF to pay for the down payment of an EC?
Yes, you can use your CPF Ordinary Account (OA) savings to pay for part of the down payment, as well as your monthly mortgage. However, the initial 5% of the purchase price must be paid in cash.
Can I rent out my EC before the MOP is over?
No, you are not allowed to rent out the entire EC unit before completing the 5-year Minimum Occupation Period (MOP). However, you can rent out individual rooms during this time, provided you still live in the unit.
What happens if I exceed the income ceiling after booking an EC?
If your household income exceeds the $16,000 limit after you've successfully booked the EC and HDB has approved your application, it will not impact your purchase.
Can I purchase an EC if I currently own an HDB flat?
Yes, you can purchase an EC if you own an HDB flat, but you must sell your HDB flat within 6 months of collecting the keys to your EC. You also need to meet the Minimum Occupation Period (MOP) for your current HDB before purchasing an EC.
Can I apply for an EC if I have previously received a housing subsidy from HDB?
Yes, you can still apply for an EC if you have previously received an HDB housing subsidy, but you will be subject to a resale levy, which varies depending on the size of your flat.
What happens if I cancel my EC booking after signing the Sales & Purchase Agreement?
If you cancel your EC booking after signing the Sale & Purchase Agreement (S&P), you will forfeit 5% of the purchase price.
Can I buy an EC if I already own private property?
No, you are not allowed to purchase an EC if you currently own private property or have disposed of any private property within the last 30 months. You must meet HDB’s eligibility requirements before buying an EC.
Can I apply for an EC if my spouse is a Permanent Resident (PR)?
Yes, you can apply for an EC if one spouse is a Singapore Citizen and the other is a Permanent Resident (PR). This qualifies under the Public Scheme, provided other eligibility conditions are met.
