What income documents must I submit? |
Income documents to prepare
You and any other applicants and essential occupiers will need to prepare:
Specific documents are needed depending on your nature of employment. Also, please note that some forms of income/ allowance are not included when assessing your household income. Aside from these documents, the developer may also request further documentation if needed. For Employed person
Self-employed person
Commission-based person
Part-time worker
Odd job worker
Unemployed person (between 18 to 62 years old)
Income/ allowance that will be considered for the income ceiling
Income/ allowance not considered for the income ceiling
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Are there any time periods during which I cannot apply for an EC? |
Yes. There are instances where you may need to wait out a set time period before you can apply or be listed in the application for a new EC. This usually happens when someone:
MOP requirements: current owner of a flat/ EC Before applying for the new EC, do you or any other flat applicants and essential occupiers to be listed in the flat application own any of these?
If so, that person must have already met that flat/ EC’s 5-year MOP before being allowed to apply for a new EC. In the case of current/ prior EC ownership, you must also wait out a 30-month period from the EC’s effective date of disposal as evidenced by your Notice of Transfer, or any other such documentation requested. MOP of 5 years
MOP of 5 years + 30 months from date of EC disposal
MOP requirements: essential occupier of a flat/ EC An essential occupier of the following must have already met that flat/ EC’s 5-year MOP before being allowed to be listed in a new EC application, whether as an owner or essential occupier:
MOP of 5 years
Divorcee In case of a divorce, conditions will apply for the following types of property:
3-year wait-out period
Exception There is no need for any 3-year wait-out period or undertaking if you are:
Cancelled an HDB flat application after booking a flat If you booked a new HDB flat and subsequently cancel your booking, you must wait out a 1-year period from the date of the cancellation before you can apply or be listed as an essential occupier of a:
Terminated the Sale and Purchase Agreement for an EC/ DBSS flat If you had previously bought a DBSS flat/ EC using a CPF Housing Grant and subsequently terminated the Sale and Purchase Agreement, you must wait out a 5-year period from the date of the termination before you can apply or be listed as an essential occupier of an EC. |
Can I get a new EC flat if I used to / still own or have full / partial interest in a local / overseas non-HDB property? |
No, you may not. For an EC flat application, all the listed owners and essential occupiers must not own, dispose, or have an estate or interest in any other local or overseas property:
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What if I am an undischarged bankrupt? |
You need to obtain the consent of the Official Assignee if you are applying for an EC. There is no need to do so if you are to be listed as an essential occupier.
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Am I a first or second-timer applicant? |
First-timer applicant
First-timers enjoy privileges and priority in flat allocation. Yours will be treated as a first-timer application if you and any of the other listed owners and essential occupiers meet the following criteria:
Second-timer applicant Yours will be treated as a second-timer application if any of the following applies to you or any of the other listed owners and essential occupiers:
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Can I get a new EC if I used to / still own an HDB flat, DBSS flat or EC? |
Yes, provided that you only own/ owned 1 of the following units prior to your application:
If you have already bought 2 such properties, you will not be eligible to apply for an EC or be listed as an essential occupier in an application. |
Which are the ECs that are exempted from resale levy? |
Skypark Residences, Waterwoods, Twin Fountains, Forestville, Sea Horizon, Ecopolitan, The Terrace, Bellewaters, and Bellewoods.
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Selling of current HDB / DBSS flat in the open market |
You and your family members listed in the flat application must dispose of the existing flat within 6 months from the issuance date of the Temporary Occupation Permit (TOP) for the EC.
If you want to apply to buy an EC where the TOP has been issued, you will be required to dispose of your existing HDB/ DBSS flat within 6 months from the date the developer serves the Notice of Vacant Possession to you. |
What are the conditions after I bought an EC? |
Taking a housing subsidy
You and your spouse will be considered as having taken a housing subsidy when you buy an EC from the developers. Citizen Top-Up If you are from an SC/ SPR household, you can apply for the Citizen Top-Up when your SPR family member takes up Singapore Citizenship or when you have an SC child. The Citizen Top-Up is a $10,000 housing subsidy that is given to eligible Singapore Citizen/Singapore Permanent Resident (SC/SPR) households when a qualifying household member becomes a Singapore Citizen. It is available to any of the following SC/SPR households who have:
It is only distributed to:
Eligibility conditionsAn SC/SPR household will qualify for the Citizen Top-Up in any of these instances:
TimeframeYou must submit your application within 6 months of being eligible for the Citizen Top-Up. Minimum Occupation Period (MOP) Sale of EC You have to occupy the EC for 5 years from the date of key collection before you can sell it in the open market. Essential occupiers in EC Occupiers who are essential in forming a family nucleus with you in the EC application must continue to be listed in the application and stay in the EC during the 5-year MOP. They cannot make a separate application, or be listed as occupiers in another application to buy an HDB flat or another EC within the MOP. Renting out your EC Renting out the whole EC unit Renting out the whole EC unit within the 5-year MOP is not allowed. Renting out rooms You do not need prior approval from HDB to rent out the bedrooms in your EC within the MOP. However, you must register the subletting of bedrooms with HDB within 7 days of doing so. You are also required to notify HDB when you renew or terminate the subletting of bedrooms, and when there are changes to your subtenants’ particulars. You can go to the HDB Branch managing your EC to register the subletting. Buying another subsidised home After selling your EC in the open market, you must wait 30 months before you can submit an application to buy any of these:
Resale levy The resale levy is meant to reduce the housing subsidy on the buyers' second subsidised flat or EC. It ensures a fairer allocation of housing subsidies among home buyers. You are liable to pay a resale levy of $55,000:
Interest in private property You can invest in private residential property after the 5-year MOP. |
Can I borrow 80% loan if I own a HDB? |
Borrowers who currently own only one residential property (but with the intention of selling it) and are obtaining a second housing loan for the purchase of another property which is an Executive Condominium (EC) purchased directly from a property developer or a HDB flat can be treated as individuals with no outstanding housing loans.
In order to ascertain if you are eligible to get 80% loan, you need to be aware of MSR or Mortgage Servicing Ratio that is peg to 30% of your combined total income. In order to avail themselves of such concessionary treatment, they will have to provide the bank granting the loan for the purchase of the second property a copy of the signed undertaking to HDB committing to complete the sale of his sole existing property within the period stipulated in the undertaking. |
Do I need to pay ABSD if I currently own a HDB? |
ABSD remission is applicable to the purchase of a HDB flat or a new EC unit if the remission conditions are met. Remission is granted automatically upon approval of purchase by HDB. Buyers do not need to submit a separate application to IRAS or HDB.
Conditions for Remission For the purchase of a HDB flat or a new EC unit by a SC household, ABSD is fully remitted. For the purchase of a HDB flat or a new EC unit by Singapore Permanent Residents (SPRs), the remission is granted such that lower ABSD at the rate of 5% is payable. |