Executive Condominium Eligibility for Purchase
Executive Condominium Eligibility can be confusing hence the buyers might overlook this potential investment option. Here at the mindful. space™, we are looking to change that.
To qualify for an Executive Condominium, applicants are to apply under the following eligibility schemes under Housing Development Board (HDB).
Buy an Executive Condominium with your family. You form a family nucleus with any of the following:
- Spouse, and children (if any)
- Parents, and siblings (if any)
- Children under your legal custody, care and control (if widowed/divorced*)
*If the care and control of your children under the age of 21 is shared with your ex-spouse, you must obtain his/her written agreement before you can list your children in a flat application.
Buying together with your fiancé or fiancée. Under this scheme, you need to solemnise your marriage and submit a photocopy of your marriage certificate to the developer within 3 months* of collecting your keys to the EC unit.
If spouse-to-be is minimum 18 and below 21 years old, the person can only be listed as an essential occupier in the EC application and written consent from parents/guardian must be submitted during the EC selection appointment.
You and your siblings (those applying) are orphans and single, i.e. unmarried, divorced, or widowed:
- All of the siblings that are single must be listed in the same application
- At least 1 of the deceased parents was a Singapore Citizen or Singapore Permanent Resident
Please note that under the Orphans Scheme, siblings are not allowed to buy or rent flats separately.
Joint Singles Scheme
You and up to 3 other co-applicants, and all of you are:
- Single (unmarried, divorced, or widowed)
- Singapore Citizens
- At least 35 years old
- Applying jointly as co-applicants
The CPF Housing Grant for singles is not available when buying an EC.
- For Public Scheme and Fiancé/Fiancée Scheme, min 1 Singapore Citizen is required. The other applicant can be either Singapore Citizen or Permanent Resident (SPR status min. 3 years)
- For Orphans Scheme or Joint Singles Scheme, all applicants must be Singapore Citizens.
- At least 21 years old for Public Scheme, Fiancé/Fiancée Scheme and Orphans Scheme.
- At least 35 years old for applicants under Joint Singles Scheme.
- Maximum household income must not exceed $16,000 income ceiling.
- Monthly allowance is included in income calculations.
- Bonus and Overtime pay is excluded in income calculations.
- Applicants can only own a maximum of ONE of the subsidized property previously.
– New HDB (BTO)
– New DBSS flat or EC
– Received CPF Housing Grant before
- Owners of subsidized property from HDB must meet the Minimum Occupation Period (MOP).
- Applicants has not cancelled a flat application and must be not debarred from HDB.
- Applicants must not own other private property overseas or locally, or have disposed of any within the last 30 months. (Local private properties includes HUDC flat or Executive Condominiums)
Get a personalised assessment without obligation
Still unsure about your eligibility? Fill up the following form and receive a personalised assessment on purchase eligibility, HDB grants eligibility and any resale levy payable.
*Monthly Income includes monthly allowance. Excludes annual bonuses.
**Subsidised flats includes New HDB flat (BTO), DBSS flats, Executive Condominiums or received CPF Housing Grant before. Resale HDB without any CPF Housing Grant is NOT considered a subsidised unit.
***Private Property includes Privatised Executive Condominium or HUDC, Private Condominium or Landed Property, locally or overseas.