Question: Can I Own HDB And EC?

Can existing HDB owner buy EC?

Hi if you have fulfilled your MOP for your HDB, you can purchase a partially privatised EC and still keep your 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 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.

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 long does it take for EC to become private?

10 yearsThis 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.

Can I buy EC before mop?

5. We currently own a HDB flat bought from the resale market. … If you have not bought a flat directly from HDB before, it will depend on whether CPF housing grant was taken for the purchase of resale flat. If yes, you have to wait till your MOP is met before you can apply for an EC.

Who is eligible to buy EC?

As with public housing, EC applicants must either form a family nucleus or join up with other singles if they are at least 35 years old. They must also not exceed the household income ceiling of S$14,000. Only Singaporean couples and Singaporean/permanent resident couples can buy an EC unit.

How much money do I need to buy EC?

Additional Costs: Beyond the purchase price, you need to pay legal fees of about $2,000 and valuation fees of about $200 for a new EC. There is also the Buyer Stamp Duty, which is 3% of the purchase price or 4% if purchase price is above $1 million.

Can I buy a resale EC?

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).

Is it worth buying EC in Singapore?

Hence, in an EC environment, the majority of the residents are likely to be local families whereas in a private condominium, it is likely to be quite diverse. The upcoming EC developments, while expected to be priced higher, are still excellent value, especially taking into consideration their potential for growth.

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.

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 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 rent out my EC?

Can you rent out your EC? You cannot rent out the EC during the minimum occupation period (MOP) of the first five years. You can, however, rent out rooms within the EC during this period.

What is the difference between EC and condo?

The biggest difference between a regular condo and an EC comes in the first 11 years. During this time, ECs count as HDB properties – they are subject to the Minimum Occupancy Period (MOP) of five years. You can’t sell or rent out your EC during this time. … If you purchase an EC, it’s a bit cheaper than a regular condo.