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  • What Is EC?

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    Sufian Talib
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    Executive Condominiums (ECs) are public housing developments that are sold to Singapore citizens by private developers, with subsidized land costs from the government. After 5 years of ownership, ECs are considered private property. ECs offer facilities like swimming pools and gyms, and prices are typically 25% lower than private condominiums. To qualify for an EC, applicants must be Singapore citizens at least 21 years old (35 for singles), with a household income not exceeding $16,000, and not already owning property. ECs provide an alternative to private property or public HDB flats for citizens looking to purchase property.

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    EC

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    Executive Condominiums (ECs) are public housing developments that are sold to Singapore citizens by private developers, with subsidized land costs from the government. After 5 years of ownership, ECs are considered private property. ECs offer facilities like swimming pools and gyms, and prices are typically 25% lower than private condominiums. To qualify for an EC, applicants must be Singapore citizens at least 21 years old (35 for singles), with a household income not exceeding $16,000, and not already owning property. ECs provide an alternative to private property or public HDB flats for citizens looking to purchase property.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    15 views5 pages

    What Is EC?

    Uploaded by

    Sufian Talib
    Executive Condominiums (ECs) are public housing developments that are sold to Singapore citizens by private developers, with subsidized land costs from the government. After 5 years of ownership, ECs are considered private property. ECs offer facilities like swimming pools and gyms, and prices are typically 25% lower than private condominiums. To qualify for an EC, applicants must be Singapore citizens at least 21 years old (35 for singles), with a household income not exceeding $16,000, and not already owning property. ECs provide an alternative to private property or public HDB flats for citizens looking to purchase property.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 5

    What is EC?

    Public Housing Gated compound with


    PR can buy after 5 yrs security
    Considered Private Facilities e.g swimming
    Property after 10 yrs pool and gym

    Executive
    Condominium

    Land is subsidised by Developed and sold by


    Government Private Developers
    Advantages and
    Disadvantages

    EC Private Condo

    CPF Grants

    Price Typically 25% lower More ex than EC or BTO

    Payment Deferred payment available Progressive payment for BUC

    Loan quantum Mortgage Servicing Ratio Total Debt Servicing Ratio

    HDB Regulations Minimum Occupation Period Minimum Occupation Period


    Purchasing Eligibility
    Income Ceiling
    Property ownership
    Rentability
    Price Trend
    How to qualify for EC
    Family Nucleus
    •Public Scheme
    •Fiance/Fiancee Scheme
    •Orphans Scheme
    •Joint Singles Scheme

    Citizenship
    •You must be a Singapore Citizen
    •At least 1 other applicant must be a SC or PR
    •All singles must be SC if applying under joint Singles Scheme

    Age
    •At least 21 yrs old
    •At least 35 yrs old if applying under joint Singles Scheme

    Income Ceiling
    •Household income must not exceed $16,000

    Property ownership
    •Must not own other property overseas or locally
    •Must not have disposed of any such property within the last 30 mths
    •Have not bought more than 1 new HDB/DBSS or EC or received CPF housing Grant
    Availability and
    Alternatives

    Parc Central

    Private Property

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