Question: When Can I Sell My EC?

Can EC owner buy another EC?

Am I allowed to buy other residential property.

No, Executive Condominium owners are not allowed to acquire a share in another residential property/HDB flat within the MOP.

If they do so, they will infringe the Executive Condominium Housing Scheme Act and HDB can compulsorily acquire their Executive Condominium unit..

How long does it take for EC to become private?

This is a public-private hybrid type of housing as ECs are considered as public housing from the start, but fully transitions to private property after 10 years. These properties generally have a leasehold tenure of 99 years.

Is resale EC worth buying?

#1: Closer to full privatisation One advantage of buying a resale Executive Condominium, rather than a brand new one, is that an EC is fully privatised after 10 years. Crossing this milestone allows you to sell it to foreigners and entities in five years’ time or less, depending on when you buy the resale EC.

Can a single buy 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.

Can sell EC before mop?

Owners who have bought an Executive Condominium (EC) unit from the developer are required to fulfil the 5-year Minimum Occupation Period (MOP) before they can sell it in the open market.

Can I buy EC twice?

Each eligible Singaporean household can buy the following housing unit only twice: … a DBSS flat from developer; an EC unit from developer. If you have already bought two housing units, you will not be eligible to apply or be listed as an essential occupier in an application.

How much does a 3 bedroom EC cost?

Cost of BTO and EC 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 single pr buy resale EC?

You can purchase a resale EC or a private condo as a single PR. However, do take note that an Additional Buyer Stamp Duty of 5% is applicable to you so you may want to include this cost into your budget.

Who can buy EC resale?

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 I buy condo if I own EC?

You are eligible to purchase a condo provided you have fulfilled the minimum occupation period of 5 years for your new EC (directly from developer). … Yes if you have fulfil 5 years MOP, you can purchase another condo. However, if you have an outstanding home loan, your 2nd loan will only be for up to 50%.

How much money do I need to buy EC?

Additional Costs: Beyond the purchase price, you need to pay legal fees of about $2,000 and valuation fees of about $200 for a new EC. There is also the Buyer Stamp Duty, which is 3% of the purchase price or 4% if purchase price is above $1 million.

Can I buy EC if I own private property?

You are eligible to purchase resale EC even though you own a private property. After attaining its MOP, SC or SPR are eligible to purchase resale EC as they considered “private property” (foreigners are only eligible after privatisation).