Question: Can I Buy Condo If I Own EC?

Can I buy EC if I own private property?

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 Condo private property?

A condo is a form of private housing whereby individual portions of this land is owned by different owners. Aside from individually owned apartment units, there are common facilities shared by all unit owners such as the hallway, elevator, lobby and exterior areas like swimming pool, garden and gym.

Is it better to buy HDB or condo?

And when it comes down to it, HDBs can have far better rental yield compared to their condo counterparts, simply by virtue of how affordable they are. (Note: This depends on the rental income generated as well. Condos do tend to generate higher rental income than flats, which can sometimes offset their higher costs.)

Should I buy EC condo?

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). … Minimum occupancy period of five years, and restrictions on who can buy EC.

Is EC a good buy?

This means EC buyers have an immediate price advantage over private condominium buyers as they are buying a product that has a similar look and feel of a mass market condominium, but at a cheaper price since ECs come with full condominium facilities and have the same level of privacy and finishes one would typically …

Can a single 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 do you qualify for an executive condo?

(A) Basic Requirements:You must be a Singaporean.You must form a proper family nucleus. … You must be at least 21 years old at the time of application.Your average gross monthly household income must not exceed $14,000. … You must not own or dispose of any private property within 30 months.More items…

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.

Can I buy EC if I own 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.

Who can buy resale executive condo?

You must be a Singapore Citizens (SC) or Singapore Permanent Residents (SPR) in order to buy a EC from 6th year occupation period. You need not to form a family nucleus to buy a EC from the open market. For e.g. a single person SC or SPR above 21 can buy a EC from the open market.

How much money do I need to buy EC?

Income eligibility Most first-time EC buyers have a combined income of around S$10,000 and are looking to maximize the CPF grant amount. In order to qualify for an EC, household income cannot exceed the $14,000 limit.