How many EC are in Tampines?

How many EC are in Tampines?

The new Tenet EC at Tampines St 62 is strategically located along the condo belt, starting from 2 of the existing condominiums in Tampines – The Trilliant and the Citylife.
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Is EC worth buying?

If you’re an HDB upgrader who wants to own a non-landed private property at a good price, buying an EC is the best option after it has become fully privatised. This is when prices have more or less stabilised.

How much is the downpayment for EC?

You only need to pay 20% downpayment (5% option fee + 15% sale and purchase agreement). The remaining 80% can be paid once the project receives its TOP. The caveat to this is that you need to pay more for the EC.

Is executive condo under HDB?

ECs are developed and built by private developers (so they look and feel just like private condos) but are sold by the Housing & Development Board (HDB) at a cheaper, subsidised price for eligible buyers.

How many EC are there in Singapore?

66 Completed

All 66 Completed Executive Condos (ECs) in Singapore and Where You Can Find Them (Prices Included) Executive Condominiums (ECs) are a hybrid form of property offering the advantages of both private and public housing.

Is EC considered private after 5 years?

Yes, EC is considered private property upon meeting 5 yrs minimum occupancy period. It is allowed to sell to SC & SPR, no other restriction as those in HDB, such as need to form family nucleus or age limit, of course still has to be at legit age of 21 yrs old.

Is EC privatised after 5 years?

ECs can only be sold to foreigners after 10 years, when the property is considered fully privatized.

How much CPF can I use for EC?

Whatever is in the Ordinary Account of their CPF, they can be taken out to use for the Exercise fee 15%, together with the $30,000 CPF grant. The rest of the Progressive Payment is via Bank Loan’s monthly installment which can be paid using CPF.

Can we use CPF to pay for EC?

For applicants applying for CPF Housing Grant
After booking an EC unit, you must submit the completed application form to use your CPF savings to the CPF Board for processing. This is so that you can use your CPF savings or the CPF Housing Grant, or both, for the payment of your EC unit.

What happen to EC after 10 years?

An EC after 10 years is still classified as Executive Condominium. Just that the restrictions are lifted and it can be transacted like a normal condominium. Hope that answers your questions. Yes, it will still be a 99 year lease-hold property.

Can I sell my EC before 5 years?

You will need to meet the Minimum Occupation Period (MOP) of 5 years before you can sell your EC. The MOP is calculated from the Temporary Occupation Permit (TOP) date for your EC. To find out if you have met the MOP, you may wish to check the TOP date for your EC or contact HDB.

Can I sell my EC after 5 years?

Can I buy EC alone?

You need not to form a family nucleus to buy a EC from the open market. For e.g. a single person SC or SPR above 21 can buy a EC from the open market.

When should I sell my executive condo?

Executive Condominium or EC will reach their Minimum Occupation Period (MOP) after 5 years and will be fully privatised after 10 years from TOP (Temporary Occupation Permit). If you are an EC owner, this means that at minimum, you can only sell your EC after 5 years.

Can I rent out my executive condo?

Renting out the whole EC unit within the 5-year MOP is not allowed. 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.

Can I buy new EC after selling condo?

Yes, you can. However, you would need to wait at least 30 months after selling your condo if you want to buy a new HDB flat, get an HDB loan, or CPF Housing Grants.

How do you finance an executive condo?

1. Home Loan for EC. For Executive Condominium, the banks are able to loan you up to 75% of the property value, you would need to have 5% cash for the booking fee, the remaining 20%, buyer stamp duty and legal fee by cash or CPF.
2. Loan-to-value (LTV) for EC. Loan Tenure. Up to 30 Years. Up to 30 Years. 31 to 35 Years.

Can I buy EC twice?

If you’ve already bought 2 such apartments, you cannot apply for, or be listed as an essential occupier in an application to buy a new EC. Basically, an eligible Singapore Citizen is only allowed to buy the above properties twice in total, not twice per type of property.

Are executive condos good?

ECs can be a better investment choice compared to private condominiums, as they are usually sold for around the same price as private apartments in the resale market even though EC is purchase with grants (subsidized housing). EC is treated as HDB property for 10 years.

Can I buy EC at 35?

As with public housing, EC applicants must either form a family nucleus or join up with other singles if they are at least 35 years old. They must also not exceed the household income ceiling of S$14,000. Only Singaporean couples and Singaporean/permanent resident couples can buy an EC unit.

What happen to EC after 5 years?

Hi, Yes, EC is considered private property upon meeting 5 yrs minimum occupancy period. It is allowed to sell to SC & SPR, no other restriction as those in HDB, such as need to form family nucleus or age limit, of course still has to be at legit age of 21 yrs old.

Are EC cheaper than condo?

Private Condominiums
A private condominium at a similar location typically costs 10-20% more than an executive condominium. For example, a 915-square-foot EC in Tampines was sold for $1,083,000 in May 2021. A similarly-sized private condo in the same area was sold for $1,306,000 during the same month.

Can I use CPF to buy EC?

For Executive Condominium, the banks are able to loan you up to 75% of the property value, you would need to have 5% cash for the booking fee, the remaining 20%, buyer stamp duty and legal fee by cash or CPF.

Can a single person buy executive condo?

Singles can buy new ECs, but only under the Joint Singles Scheme. You will need to form a household of 2, 3 or 4 singles, all of whom must be Singapore citizens and at least 35 years old. Note that ECs are significantly more expensive than HDB flats.

How do I book an executive condo?

How to buy an Executive Condominium (EC)

1. Step 1: Check your eligibility.
2. Step 2: Get your finances in order.
3. Step 3: Shop around.
4. Step 4: Submit your application.
5. Step 5: Book your unit.
6. Step 6: Hire solicitors and finalise the loan.
7. Step 7: Sign the Sale and Purchase Agreement.
8. Step 8: Make your payments for the EC.