Skypark Residences Executive Condo by Oasis Development Pte Limited. View Skypark Residences Floor Plan, Brochure, Location Map, Pics. Claim your BestRead More
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