If you currently own an HDB / DBSS flat, you and/or your spouse must dispose of the flat within 6 months from the date of issuance of the Temporary Occupation Permit in respect of the Executive Condominium (EC).
If you intend to apply to purchase an EC where the Temporary Occupation Permit for the EC has been issued, you will be required to dispose of your existing HDB / DBSS flat within 6 months from the date the Developer serves the Notice of Vacant Possession on you.
You and your spouse will be considered as having taken a housing subsidy when you buy an EC under the CPF Housing Grant Scheme from the developers.
If you are from an SC/SPR household, you can apply for the Citizen Top-Up when your SPR family member takes up Singapore Citizenship or when you have a SC child.
Sale of EC
You have to occupy the EC for 5 years before you can sell it in the open market.
Occupiers who are essential in the forming of 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 Minimum Occupation Period (MOP).
They cannot make a separate application, or to be listed as occupiers in another application to purchase an HDB flat or another EC within the MOP.
Renting out the whole EC unit
Renting out of whole EC unit within the 5-year Minimum Occupation Period (MOP) is not allowed.
No prior approval from HDB is required if you rent out your bedroom(s) in the EC within the MOP. However, with effect from 1 Feb 2010, you must register the subletting of bedrooms with HDB within 7 days of doing so. You are also required to notify HDB when you renew or terminate the subletting of bedrooms, and when there are changes to your subtenants’ particulars. You may approach the HDB Branch managing your EC to register the subletting.
After selling your EC in the open market, you must wait for 30 months before you can submit an application to buy:
- a new flat from HDB; or
- an apartment under the Design, Build and Sell Scheme (DBSS) from developers; or
- another EC from developers.
The resale levy is meant to reduce the housing subsidy on the flat buyers’ second subsidised flat. It also ensures a fairer allocation of housing subsidies among flat buyers.
You are liable to pay a resale levy of $55,000 when you sell the EC bought with the CPF Housing Grant after complying with the minimum occupation period, and, after meeting a 30-month waiting period, buy a second subsidised flat from HDB or take over ownership of a subsidised HDB flat or buy an Executive Condominium (EC) from a developer where the land sale was launched on or after 9 Dec 2013, including those where tenders were not closed, i.e. Westwood Avenue, Canberra Drive and Anchorvale Crescent.
If you do not intend to buy a second subsidised flat from HDB, for instance, if you are buying a resale flat, a new DBSS flat, an Executive Condominium (EC) from a developer where land sale was launched before 9 Dec 2013 or a private residential property, you need not pay the resale levy.
You cannot invest in private residential property during the 5-year minimum occupation period.