Piermont Grand
Piermont Grand is a new Executive Condo (EC) located at Sumang Walk, Singapore District 19. View Piermont Grand Showflat, Floor Plan, Price, Location, Review. RSVP for Showflat Preview
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Category: Executive Condominium for Sale Singapore
Executive Condominium, often know as EC is a type of housing that is governed by HDB yet is enclosed with private condo facilities. It balance out public and private housing by providing a cheaper form of housing as compared to private housing, yet is equipped with condo facilities. EC is often sold at a subsidise rate from private developer.
Being a hybrid of public housing, executive condominium will be subjected to hdb regulations such as income ceiling of $14,000, buyers forming a family neclues etc.
Purchaser of the Executive Condominium have to keep the unit for 5 years after TOP. During this 5 years, the unit cannot be rented out whole unit or sold. After 5 years from TOP then it can be sold to Singapore Permanent Residents (PRs) or Singaporean. Only once it reach 10 years before it reach a condo status that can be sold to foreigners.
Executive Condominium (EC) Eligibility Conditions
| Family Necleus | Eligibility schemes – Joint Singles Scheme – Orphans Scheme – Public Scheme – Fiance / Finacee Scheme |
| Age | – At least 35 years old if under Joint Singles Scheme – at least 21 years old |
| Income Ceiling | – not most than $14,000 household income |
| Citizenship | – Singaporean Citizen – All Singles must be Singapore Citizen when applying under joint singles – At least 1 applicant must be Singapore Citizen or Singapore Permanent Resident |
| Property Ownership | – No property locally or oversea or have not disposed any properties within last 30 months – Have not received CPF Housing Grant before – Have not bought new HDB / DBSS / EC |
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