Executive Condominium (EC) owners who have occupied their EC and met the 5-year minimum occupation period (MOP) can sell their EC in the open market. The 5-year MOP is computed from the date of issuance of Temporary Occupation Permit (TOP) in respect of each EC.
After the 5-year MOP, from 6th to 10th year, EC can be sold in the open market to those who can meet the following eligibility conditions.
- Family Nucleus
- CPF Housing Grant
From 11th year, all restrictions will be lifted. Foreigners and corporate bodies can buy ECs in the open market from 11th year of the EC project.
You must be a Singapore Citizen (SC) or a Singapore Permanent Resident (SPR) in order to buy a EC in the 6th to 10th year occupation period
Foreigners and corporate bodies can buy ECs in the open market from 11th year of the EC project. All restrictions will be lifted from 11th year onwards
You need not form a family nucleus to buy a EC from the open market.
For e.g. a single person above 21 can buy a EC from the open market.
Buyers of resale ECs are not eligible for CPF Housing Grant as such ECs are treated as equivalent to “private housing”.
Procedure to buy an EC in Open Market
You can look for an EC in the open market and complete the resale transaction at your solicitor’s office since it is considered a private property.