Government introduced Executive Condo (EC) for our middle income household who wish to upgrade their lifestyle but squeeze out by private condo price tag.
After seeing a showflat for EC, only to find out you are not eligible will be devastating. In order not to be disappointed after falling in love with a particular EC, it is advisable to understand what is the EC Eligibility before making the trip.
Anyone above 21 years old (excluding Joint Singles Scheme) who meets the following criteria:-
2. Family Nucleus
3. Property ownership
4. Household Income
The amount of grant an first timer applicants can enjoy as follows:-
|Both applicants – 1st timer||Both applicants – 1st timer||1st applicant – 1st timer 2nd applicant – 2nd timer|
|Monthly Household Income||SC/SC Household||*SC/SPR Household||Half Grant|
|S$10,001/- to S$11,000/-||S$20,000/-||S$10,000/-||S$10,000/-|
|S$11,001/- to S$12,000/-||S$10,000/-||S$0||S$5,000/-|
|S$12,001/- to S$14,000/-||S$0||S$0||S$0|
* SC/SPR household = the applicants comprises of a Singapore Citizen (SC) and a Singapore Permanent Resident (SPR).
* If you are from an SC/SPR household, you can enjoy the full housing subsidy by applying for the Citizen Top-Up when your SPR family takes up Singapore Citizenship or when you have an SC child.
The SC/SPR household will qualify for the Citizen Top-Up when:
– the SPR spouse who is the co-applicant/co-owner/occupier of the EC subsequently becomes a SC, or
– an SC child is born to the SC applicant/owner and spouse of the EC, or
– the SPR parent/child/sibling# of the EC subsequently becomes a SC.
# Conversion of sibling to SC to qualify for the Citizen Top-Up applies only to flats purchased under the Orphans Scheme and Non-Citizen Spouse Scheme.
The SC/SPR household can apply for the Citizen Top-Up if they meet the condition before taking possession of the flat.
The SC/SPR household can also apply for the Citizen Top-Up for their existing EC, provided there is continuous occupation of the EC by the SC owner and SPR co-owner/essential occupier. Upon the sale of the EC in the open market, the SC/SPR household will not be eligible to apply for the Citizen Top-Up.
New Executive Condo is considered a subsidised flat, certain HDB rules still applies.
**MOP = Minimum Occupation Period