Perhaps you’re ready to sell off your BTO HDB flat and upgrade to an EC; it’s not uncommon that the question beckons if you can still qualify as a 2nd timer to enjoy subsidies. Or you might be unmarried and/or want to purchase the EC with your sibling/parents/fiance or fiancee. Whatever the case may be, this seems extremely convoluted, so here’s everything that you need to know about your eligibility to buy an EC.
1. Family Nucleus
The Family Nucleus eligibility requirements are essentially similar to that for buying a HDB Build-To-Order (BTO) new flat.
For the Public Scheme, the husband and wife can’t be separated and must be included in the application. An occupier who’s married must also include his/her spouse. If the care of children under 21 years old is shared with your spouse. written agreement must be obtained from the spouse before listing the children in the application.
For the Fiance/Fiancee Scheme, you must be a Singaporean Citizen (SC) and your fiance/fiancee must be either a SC or Singapore Permanent Resident (SPR). Both of you must be unmarried, widowed or divorced at the time of application. Marriage Certificate must be produced before taking possession of the EC (if you’re taking the CPF Housing Grant); or within 3 months after taking possession of the EC (if not taking the CPF Housing Grant).
For the Orphans Scheme, if you’re buying with your sibling(s) – you must be a SC and your sibling(s) must comprise of at least 1 SC or SPR. All parties must be at least 21 years old at the time of application. Furthermore, all of the siblings that are single (i.e. unmarried, widowed or divorced) must be listed in the same application; as siblings buying separately is disallowed.
For the Joint Singles Scheme, you are eligible to buy with 1 Unrelated Person (i.e. not a family member or related by marriage); or together with 3 other co-applicants (max). All parties must be single (i.e. unmarried, divorced, widowed), all must be SC, at least 35 years old, and applying jointly as co-applicants. In this case for Singles, CPF Housing Grant will not be applied.
Except for the Joint Singles Scheme that requires the minimum of 35 years of age; all relevant parties need to be at least 21 years old to be eligible to purchase an EC.
4. Income Ceiling & Property Ownership
The total gross monthly income household income must not exceed $16,000 SGD in order to be eligible to purchase an EC. As for property ownership, one must not own any other local or overseas private property; and must not dispose of any local or overseas private property within the last 30 months.
If you still aren’t so sure about your eligibility situation, reach out to us for a free planning consultation! For more updates on the EC market, follow us on Live A Home SG for upcoming in-depth pertinent information regarding ECs, so you can make an informed EC property purchase!