Question: How Much Money Do I Need To Buy EC?

Can I rent out my EC?

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..

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.

Can I buy a EC if I own a HDB?

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: Flat bought from HDB.

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.

Can I buy EC alone?

Unfortunately, a single citizen can’t buy a new EC unit alone. However, he or she can opt to purchase a resale EC or even a private condo if it’s within the budget. … As a single, you may purchase a resale EC or private condo.

Can I buy EC before mop?

If you buy an EC that is past its MOP however, you can still retain your old flat, while also owning the resale EC. Note that you still need to meet the MOP for your previous flat, before you can invest in a second property. This is regardless of whether it’s a resale EC, private condo, etc.

Can single above 35 buy EC?

Purchasing an Executive Condominium (EC) together Under the HDB rules, two single persons who are Singapore Citizens and above 35 years old can also buy a new EC together under the JSS.

How much is the down payment for EC?

Downpayment: Unlike a HDB flat, where you only need to make a downpayment (in Cash/CPF) of as little as 10%, you will need to make a downpayment of 25% when buying an EC. Home Loan: You will not be eligible to apply for a HDB loan to buy your EC, so you’ll need to approach a bank for a loan.

Is buying an EC a good investment?

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).

Can I buy private property if I own EC?

Yes, you will be eligible to purchase a private property once you met your Minimum Occupation Period (MOP) of 5 years. For your next property, the loan quantum will be dependent on whether you still have an outstanding housing loan. If you are still servicing the EC, the max loan amount is 50%.

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.