What are the EC restrictions and conditions that applied after purchasing the EC?
After the purchase of an Executive Condominium (EC), there are certain restrictions and conditions that applied before you can:
- Sell
- Rent out
- Apply another subsidised property
- Invest in private residential property
Selling of current HDB/ DBSS flat in the open market
You and your family members listed in the EC application must dispose of your existing flat within 6 months of taking possession of the EC unit.
Taking a housing subsidy
You and your spouse will be considered to have taken a housing subsidy when you buy an EC from developers.
EC Minimum Occupation Period (MOP)
Sale of Executive Condominium (EC) in open market
ECs can only be sold in the open market after the 5-year MOP (from TOP date) has been met.
Essential occupiers in Executive Condominium (EC)
Occupiers who are essential in forming a family nucleus with you in the EC application must continue to be listed in the application, and stay in the EC during the 5-year MOP. They cannot make a separate application, or be listed as occupiers in another application to buy an HDB flat or another EC within the MOP.
Renting out your Executive Condominium (EC)
Renting out the whole EC unit
Renting out the whole EC unit within the 5-year MOP is not allowed.
Renting out rooms
You do not need prior approval from HDB to rent out the bedrooms in your EC within the MOP. However, you must register the renting out of bedrooms with HDB within 7 days of doing so. You are also required to notify HDB when you renew or terminate the renting out of bedrooms, and when there are changes to your tenants’ particulars. You can go to the HDB Branch managing your EC to register the renting out of rooms.
Interest in private property
You can invest in private residential property after the 5-year MOP.
Applying/ Buying another subsidised home
After selling your Executive Condominium (EC) in the open market, you must wait 30 months before you can submit an application to buy any of these:
- A new flat from HDB
- Another New Executive Condominium (EC) from developers
EC Resale Levy
The resale levy is meant to reduce the housing subsidy on the buyers' second subsidised flat or EC. It ensures a fairer allocation of housing subsidies among home buyers.
You are liable to pay a resale levy of $55,000:
- When you sell an EC bought with the CPF Housing Grant after meeting the MOP, and, after meeting a 30-month waiting period, buy a second subsidised flat from HDB or take over ownership of another subsidised HDB flat
- Buy an Executive Condominium (EC) from a developer
If you do not intend to buy a second subsidised flat from HDB, and choose to buy a resale flat, a resale DBSS flat, or a private residential property, you need not pay the resale levy.
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Your Real Estate Partner
Elson Chua
(65) 8182 1832
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