Quick Answer: Can Single Above 35 Buy EC?

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 EC owner buy another EC?

Am I allowed to buy other residential property? No, Executive Condominium owners are not allowed to acquire a share in another residential property/HDB flat within the MOP. If they do so, they will infringe the Executive Condominium Housing Scheme Act and HDB can compulsorily acquire their Executive Condominium unit.

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).

Can I buy BTO after selling EC?

Yes, you will be able to purchase a HDB resale flat once you fulfill the MOP for your EC. However, do take note that you will be required to sell off your EC latest 6 months upon the purchase of your HDB flat.

Is resale EC worth buying?

#1: Closer to full privatisation One advantage of buying a resale Executive Condominium, rather than a brand new one, is that an EC is fully privatised after 10 years. Crossing this milestone allows you to sell it to foreigners and entities in five years’ time or less, depending on when you buy the resale EC.

Is EC worth buying?

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 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 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 is it to buy an EC?

Additional Costs: Beyond the purchase price, you need to pay legal fees of about $2,000 and valuation fees of about $200 for a new EC. There is also the Buyer Stamp Duty, which is 3% of the purchase price or 4% if purchase price is above $1 million.

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.)

Can I sell my EC before 5 years?

You can sell your EC after 5 years, but if you choose to buy a resale HDB flat, then you must fulfil the 5-year minimum occupation period (MOP) before you can purchase a condo unit.

Can Singles buy resale EC?

Hi, single citizen can only buy resale EC. Hi, As a single, you may purchase a resale EC or private condo. … A resale EC is no longer consider HDB flat, it is treated as a private property, thus no longer eligible to any grants.

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.

How long does it take for EC to become private?

10 yearsThis is a public-private hybrid type of housing as ECs are considered as public housing from the start, but fully transitions to private property after 10 years.

Can I buy condo if I own EC?

You are eligible to purchase a condo provided you have fulfilled the minimum occupation period of 5 years for your new EC (directly from developer). … Yes if you have fulfil 5 years MOP, you can purchase another condo. However, if you have an outstanding home loan, your 2nd loan will only be for up to 50%.