Quick Answer: Can I Own HDB And EC?

Who is eligible to buy EC?

Eligibility Conditions & Schemes To qualify, all applicants need to be at least 21 years old (35 years if you’re applying under the Joint Singles Scheme).

One of you must also be a Singapore Citizen, with at least one other applicant being either a Singapore Citizen or Permanent Resident..

When can EC be sold?

Sale of EC ECs can only be sold in the open market after the 5-year MOP (from TOP date) has been met.

Can you afford an EC?

Based on the above chart, the minimum income required is actually more than $14k, which is above the maximum income eligibility of $14k for EC. … This means that other than earning a minimum income of $14,000 per month, you will need to also have a savings of at least $342,470.

Is it worth to buy executive maisonette?

Though they were discontinued in 1995 and thus have shorter remaining leases, executive maisonettes (or EMs) are still highly sought-after among home buyers because of their rarity and unique attributes that set them apart from regular HDB flats. In fact, resale executive maisonettes can reach up to $1 million.

How much money do I need to buy EC?

Most first-time EC buyers have a combined income of around S$10,000 and are looking to maximize the CPF grant amount. In order to qualify for an EC, household income cannot exceed the $14,000 limit.

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 EC considered private property?

Important Note: While Executive Condominiums (EC) are treated as public housing, after the 10th year, they’re considered private properties. Here’s how public and private properties differ from a purchasing standpoint: … Public housing on the other hand can be purchased with no cash down payment with an HDB loan.

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.

Is it better to buy HDB or condo?

And when it comes down to it, HDBs can have far better rental yield compared to their condo counterparts, simply by virtue of how affordable they are. (Note: This depends on the rental income generated as well. Condos do tend to generate higher rental income than flats, which can sometimes offset their higher costs.)

Can I buy EC after HDB?

You can purchase either and still keep your HDB. However if you choose to purchase a BRAND NEW EC, then NO, you will have to sell your HDB within 6 months of collection of your keys to your BRAND NEW EC.

Can I own EC and condo?

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%.

Is EC considered HDB?

An EC is a cross between public and private housing. … An EC is considered HDB property for 10 years. As such, it is subject to the same restrictions like a minimum occupancy period of five years, and restrictions on who can buy it. From the 11th year onward, an EC is fully privatised.

Is EC a good buy?

ECs can be a better investment choice compared to private condominiums, as they are usually sold for around the same price as private apartments in the resale market even though EC is purchase with grants (subsidized housing). EC is treated as HDB property for 10 years.

Can I sell my EC before mop?

Technically, all EC owners can sell their EC the moment it reaches the MOP Minimum Occupation period of 5 years, from the TOP date. Their expected property paper gain should be more than $200,000, but this is just a paper gain if you don’t sell it and convert it into real profits.

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.