- MUST dispose flat within 6 months from date of issuance of TOP
- MUST have already stayed in your flat for at least 5 years if bought direct from HDB or with a grant.
- MUST have fulfilled your MOP before this EC gets TOP , if you bought resale flat without a grant.
- Have not bought a flat direct from HDB or with a grant more than once
2) Can I buy another EC if I currently own a EC?
After selling your EC in the open market, you must wait for 30 months before you can submit an application to buy this EC
3) When can I sell my EC unit?
You can be sell EC unit in open market to Singapore citizens or Singapore PRs after 5 years minimum occupation period which starts from date of TOP. After 10 years, it will be fully privatized. It can be sold to anyone, including foreigners or developers.
4) When can I rent out my entire EC unit?
Renting out of whole EC unit within the 5-year Minimum Occupation Period (MOP) is not allowed, unless for valid reasons and subjected to HDB’s written approval.
5) When can I sublet my EC bedroom?
During the 5 year MOP which is computed from date of TOP,an EC owner and is members stated in the application must be in continuous physical occupation of the EC unit.
You may sublet the other bedrooms in the unit but you must retain at least 1 bedroom for your own physical occupation. You must register the subletting of bedrooms with HDB within 7 days of doing so. You are also required to notify HDB when you renew or terminate the subletting of bedrooms, and when there are changes to your subtenants’ particulars.
6)Can I buy EC if I currently own a private property in Singapore or overseas?
If you or your spouse owns a private property in Singapore/overseas, you are not eligible to buy a EC unit from developer unless the property owned by you, falls within any of the categories in Annex A of the application form.
7) Can I buy or invest in private residential property in Singapore or overseas after I bought a EC unit?
Yes, only after you fulfill the 5-year MOP period of your purchased EC.
8) Do I have to pay commission to agent for purchasing of EC?
No, you do not have to pay agent commission for purchasing of EC. Agent will assist you in the entire process of application, balloting and booking of an EC unit from the developer.
9) If I bought an EC or DBSS flat with CPF Housing Grant and terminated the Sale and Purchase Agreement am I still able to buy an EC unit?
Yes. But only on condition that a 5-year period has lapsed from the termination date of the Sale & Purchase Agreement of the earlier EC or DBSS flat purchase, to the date of application for the current EC.
10)What are cost of buying an EC?
- Purchase Price
- Stamp Duty (Purchase Price x 3% – $5,400)
- Legal fee
- ECs are also NOT affected by Additional Buyers Stamp Duty.
11) How much CPF housing grant am I entitled to?
The CPF Housing Grant is a housing subsidy (in the form of CPF monies) provided by the Government. The grant assists eligible first-timer family up to $30,000 to buy an EC from the developer
12) Can I use CPF Housing Grant to pay for the down payment of EC unit?
The CPF housing grant will be credited to your account. The down payment of first 5% must be paid in cash. You can use the CPF Housing grant to pay for the remaining 15% of the selling price.
13) Can I get a loan from HDB for the purchase of EC unit?
The HDB does not grant any loan for purchase of a unit in EC. Buyer have to arrange for their own mortgage financing through banks and financial institutions.
14)Do I have to refund my CPF housing grant if I cancel my purchase of EC after I signed Sales and Purchase Agreement?
Yes, if u purchase the EC under the Fiance/Fiancee Scheme and are unable to produce the marriage certificate required. Both of you are to return the CPF Housing grant together with accrued interest.
15)Will I be entitled to additional Housing grant if I purchase an EC unit?
16) Do I have to pay resale levy, if I buy an EC from developer with CPF Housing grant now sell it and buy a HDB flat in future?
Yes, you would have to pay a resale levy of $55,000 in cash before taking possession of the flat.
17) Do I have to pay any resale levy, If I sold my flat bought directly from HDB then purchase EC unit?
No, you do not have to pay any resale levy.
18) How much will I forfeit if I give up my EC unit after paying the 5% booking fee but before execute the Sales and Purchase Agreement?
The developer will forfeit 25% of booking fee.
19) How much will I forfeit if I have already exercise the Sales and Purchase Agreement, but have not taken possession of the unit?
The developer will forfeit 20% of purchase price.
20) What must I bring to book an EC unit?
- birth certificate and marriage certificate
- 3 months payslips (that is, payslip issued for the month of application for EC unit and immediately preceding 2 months) or an official letter from their employers stating their 3 months (that is, gross monthly income for the month of application for EC unit and immediately preceding 2 months) gross income, Income Tax Return/Assessment; and
- other documents as required by the developer/HDB.