How To Buy Executive Condominiums

Executive condos have received very positive feedback from EC owners. As a result, we get a lot of questions about how to go about buying a new EC. We understand that confusion. After all, you have to adhere to the policies set by Singapore’s governing body, Property Improvement Board (HDB). The issue you may be asking is, are you licensed to own a executive condo (EC)? Let ‘s find out:

Citizenship

Singapore citizenship is required. If your partner is a Singapore citizen if you are a long-lasting resident, you will simply be able license. If you do not meet this requirements, you can still purchase an EC nevertheless simply strictly those that have really been occupied for 5 years and easily offered in resale market.

Minimum Age Requirement

Your application for an EC will simply be believed about if you have really turned 21 on 1st January of that year. For prospects suggesting to acquire an EC under the Joint Songs Strategy, you have to meet the minimum age of 35 for both owners.

Home Nucleus

Hdb will simply believe about applications for the EC if you have a family nucleus. Precisely exactly what is a home nucleus? There are 4 sort of family nucleus that license in HDB requirements:

The public Strategy
1. Your family includes you, your partner and any kids
2. Your home includes you, your daddies and mothers and any sibling or sis
3. Your home includes you and your kids under your legal custody

New EC Launch

new condominium launchThere has really been a good deal of buzz in the last couple of years and growing interest by investors to own a double essential house in Singapore. The introduction of the 7 percent Additional Buyer’s Stamp Obligation (ABSD) on second-time local home purchasers in January 2013 similarly offers a genuine motivation to purchase dual-key systems, since they in effect make it possible for the owner’s ‘double ownership ‘ – your personal home plus a rental developing sub-unit.