How much grant can I get for EC?
For Executive Condominiums First-time EC buyers will also be able to enjoy the Family Grant when they buy any type of EC from HDB. The grant amount depends on your income and your household type. Income: $12,000. Grant amount: $10,000 to $30,000 for SC households, $10,000 to $20,000 for SC-SPR households.
Does SBF have Grant?
Technically, only two grants are available for BTO/SBF/Open Booking flats: the Enhanced CPF Housing Grant (EHG) and the Step-Up CPF Housing Grant. (The EHG replaced the Additional CPF Housing Grant (AHG) and Special CPF Housing Grant (SHG) in September 2019.)
Is there income ceiling for EC?
What is the income ceiling? Your average gross monthly household income must not exceed $16,000.
Can I take HDB loan after selling EC?
Yes you can purchase resale HDB immediately after selling private condo.
Can a single buy EC?
Singles can buy new ECs, but only under the Joint Singles Scheme. You will need to form a household of 2, 3 or 4 singles, all of whom must be Singapore citizens and at least 35 years old. Note that ECs are significantly more expensive than HDB flats.
Can 2nd timer buy EC?
Second-timer Applicants purchasing EC units directly from developers will now have to pay a resale levy, just like second-timer applicants purchasing BTO flats. The new levy will apply to land sales launched on or after 9 December 2013, including those where the tenders have not closed.
Can single buy SBF?
Can singles buy Sale of Balance Flats (SBF)? Yes, singles can buy through the Sale of Balance Flat (SBF) scheme. However, like the BTO scheme, they can only apply for a 2-room Flexi flat in a non-mature estate. The flat allocation set aside for singles is only 5% under this scheme.
How much money do I need to buy EC?
HDB downpayment for EC
| Bank loan | |
|---|---|
| Loan-to-value limit | 75% ($750,000) |
| Downpayment (CPF) | 20% ($200,000) |
| Downpayment (cash) | 5% ($50,000) |
| Stamp duty (pay in cash, but reimbursable from CPF) | $24,600 (calculator here) |
How much is a EC?
3. Factor in MSR
| EC price | Minimum income needed (based on 60% TDSR) |
|---|---|
| $800,000 (i.e. $600k loan, $2,428 per month at 1.6% p.a. for 25 years) | $8,093 per month |
| $1,200,000 (i.e. $900k mil loan, $3,642 per month at 1.6% p.a. for 25 years) | $12,140 per month |
Can I downgrade from EC to HDB?
Can I Downgrade From a Condo to an HDB Flat? Yes, you can. However, you would need to wait at least 30 months after selling your condo if you want to buy a new HDB flat, get an HDB loan, or CPF Housing Grants.
Can I buy new EC after selling 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).
Can singles above 35 buy EC?
Do I need approval from HDB to rent out my EC?
You do not need prior approval from HDB to rent out the bedrooms in your EC within the MOP. However, you must register the renting out of bedrooms with HDB within 7 days of doing so. You are also required to notify HDB when you renew or terminate the renting out of bedrooms, and when there are changes to your tenants’ particulars.
What are the CPF Housing Grants available for executive condominiums?
These are the CPF Housing Grants available for Executive Condominium (EC) purchases from developers: You and any co-applicants must be eligible for the grant at the point of booking the EC. You can apply for the Citizen Top-Up of $10,000 when a qualifying member of your SC/ SPR household obtains Singapore citizenship.
Can I buy a DBSS flat with the CPF Housing grant?
Have taken the CPF Housing Grant to buy an HDB resale flat or Design, Build and Sell Scheme (DBSS) flat, an EC unit, or taken over ownership of such a flat or EC unit Have transferred the ownership of a flat bought directly from HDB, an HDB resale flat bought with a CPF Housing Grant
What happens if an EC owner infringes the executive condominium housing scheme ACT?
What will happen if an EC owner infringes the Executive Condominium Housing Scheme Act (Cap 99A)? A32: If an owner infringes the Executive Condominium Housing Scheme Act or its relevant regulations, his EC unit may be compulsorily acquired.