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Part 5 OF EC GUIDE: CPF Housing Grant

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Part 5 OF EC GUIDE: CPF Housing Grant:

* Only available for 1st-timers and exceptions of 2nd timers.

*It will be divided equally.

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Part 4 OF EC GUIDE: Financing

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There are 2 types of payment- progressive and deferred payment.

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Part 3 OF EC GUIDE: Application Procedures and Cancellation

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Section 3: Application Procedures and Cancellation

What is the application procedure?

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 What are the cancellation fees? 

If you give up the unit before you execute the Sales & Purchase Agreement( S&P), there will be a forfeiture of 25% off the booking fee as provided in the Option To Purchase. (OTP). However, if you have exercise the S&P, there will be a forfeiture of 20% of the selling price upon Termination.


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Part 2 OF EC GUIDE: Eligibility to buy EC

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Section 2: Eligibility to buy an EC

Who is eligible to buy an EC?

Eligibility is to subject to citizenshipfamily nucleus, most importantly the gross monthly income must not exceed $12,000. 

Prospective buyers must not own any private residential properties or overseas properties  at the time of application. If you have dispose your private properties, you need to wait for 30 months from the date of disposal of the private property.

What do you mean by first-timers or second-timers?

You and the essential family members listed in the application for purchase of the flat must not:

-Be the owners of a flat bought direct from HDB, a DBSS flat or an Executive Condominium bought from the developer

-Have sold a flat bought direct from HDB, a DBSS flat or an Executive Condominium bought from the developer

-Have received the CPF Housing Grant for the purchase of an HDB resale flat

-Have taken other forms of housing subsidy (for example, benefitted under the Selective En bloc Redevelopment Scheme, privatisation of HUDC estate etc)

Higher Quota of the EC Supply for First-time Applicants during Initial Launch Period

From 2 March 2012, the developers will set aside 70% of the supply for first-timers during the initial launch period.

Second-timer Applicants

You or the essential family members listed in your application have owned/sold or are currently owners of:

-Any HDB flat that was bought from HDB, or

-Any resale flat that was bought under the CPF Housing Grant Scheme, or

-A DBSS flat or an EC bought from the developer, or

-Have enjoyed other forms of housing subsidy (for example, enjoyed benefits under the Selective En bloc Redevelopment Scheme, privatisation of HUDC estate etc.)


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Executive Condo Guide ( Part 1)

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Section 1: General information:

1.  What is Executive Condominium(EC) housing? 

Executive Condominiums (EC) were introduced to cater to aspiring Singaporeans, especially young graduates and professionals who can afford more than an HDB flat but find private property out of their reach. ECs are comparable in design and facilities to private condominiums as they are developed and sold by private developers but are sold at more competitive pricing.

Difference between purchasing a condo and an EC would depend on the eligibility criterion of the potential buyers. Buyers are also required to maintain their eligibility and physically occupy the unit for the first 5 years, just like ordinary HDB.

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 2. What is the developer’s role in EC developments?

They will develop, price and sell the EC units.

3. What type of facilities are provided?

The facilities provided in ECs are very similar to those provided in condominiums.

Common facilities such as swimming pool, clubhouse..etc. More details will be made know for the different development projects.

 

 4. What are dual-key units? Who are eligible to buy dual-key units?

In general, it has one strata title, with a main door leading to both the primary and secondary units( furnished with 2 smaller doors). The smaller unit will still have their own kitchenette and toilet. Dual key units can only be sold to eligible multi-generation families.


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