EXECUTIVE OR PRIVATE CONDOMINIUM?
ELIGIBILITY
PRIVATE CONDOMINIUM
Singapore Citizen, Permanent Resident or Foreigner
May own any private properties
-
Local or Overseas
No monthly household income restriction
No specific allocation for all buyers
EXECUTIVE CONDOMINIUM
Singapore Citizen
-
The family nucleus must compromise of at least 1 Singapore Citizen among co-applicants.
Age at the time of application
-
must be 21 years old Or
-
35 years old under Joint Singles Scheme
Must NOT own other private properties
-
Local or Overseas
Gross monthly household income must not exceed $16,000
30% of the units will be allocated to Second Timer Buyers (Upgraders) only
LOAN REGULATION
PRIVATE CONDOMINIUM
Total Debt Servicing Ratio
(TDSR)
Loan up to
60%
of income
Loan To Value (LTV) up to 75% of purchase price
EXECUTIVE CONDOMINIUM
Mortgage Servicing Ratio
(MSR)
Loan up to
30%
of income
Loan To Value (LTV) up to 75% of purchase price
RESTRICTION ON SALE & INVESTMENT
PRIVATE CONDOMINIUM
May sell anytime
-
No Seller Stamp Duty (SSD) after 3 years.
-
Can sell to Singapore Citizen, Permanent Resident or Foreigner
May purchase other residential properties
-
Local or Overseas
EXECUTIVE CONDOMINIUM
May sell after 5 years Minimum Occupation Period (MOP)
-
Can Only sell to Singapore Citizen or Permanent Resident after 5 years MOP
-
Can sell to Foreigner after 10 years privatization
May ONLY purchase in other residential properties upon Minimum Occupation Period (MOP)
-
Local or Overseas
GRANTS & RESALE LEVY
PRIVATE CONDOMINIUM
NO CPF Housing Grant for First Time Buyer
NO Resale Levy for Second Time Buyer (Upgrader)
EXECUTIVE CONDOMINIUM
First Time Buyer will be able to apply for CPF Housing Grant of up to $30,000
Second Time Buyer (Upgrader) will be need to pay a Resale Levy (if applicable) of $15,000 to $55,000 depend on their current housing type