Let’s get back to basic. Here’s an overview of the Build-to-Order (BTO) Flats from HDB, Executive Condominium from Developer, Private Condominium & Landed Property regarding Buying Eligibility, Financing Options, Resale & Rental Restriction.
For Resale Executive Condo, it will be similar to Private Condo, except that it can sell in the open market to Singaporean and Singapore PR after the project has completed its 5-year minimum occupation period, and to any nationalities after ten years from the date of TOP (Temporary Occupation Permit). In other words, only Singaporean and Singapore PR can buy an Executive Condo in the open market after the project has fulfilled its MOP period, and any nationalities can purchase an Executive Condominium in the open market which is 10-year from its T.O.P date.
| BTO | Executive Condominium from Developers | Private Condominium | Landed Property | |
|---|---|---|---|---|
| Eligibility to Buy based on Nationality | At least one Singaporean. At least 1 other Singaporean or Singapore PR. Also , buyers have not bought a new HDB/ DBSS flat or EC, or received a CPF Housing Grant before; or, have only bought 1 of these properties/ received 1 CPF Housing Grant thus far | At least one Singaporean. At least 1 other Singaporean or Singapore PR. Also , buyers have not bought a new HDB/ DBSS flat or EC, or received a CPF Housing Grant before; or, have only bought 1 of these properties/ received 1 CPF Housing Grant thus far | Any Nationality | Singaporean. SPR requires LDAU approval. |
| Eligibility to Buy based on Property Ownership Status | No existing property. If owns a Private or Overseas property, to dispose properties 30 months before applying for BTO. If own HDB, to dispose existing HDB six months after taking over BTO. | No existing property. If owns a Private or Overseas property, to dispose properties 30 months before applying for EC. If own HDB, to dispose existing HDB six months after taking over BTO. | Not Applicable. | Not Applicable. |
| Income Eligibility | 4-room flat or bigger - $14,000 - $21,000 if purchasing with extended or multi-generation family 3-room flat: - $7,000 or $14,000, depending on project. | Your average gross monthly household income must not exceed $16,000. | No Income Ceiling Restriction | No Income Ceiling Restriction |
| Housing Loan | HDB Loan / Bank Loan | Bank Loan | Bank Loan | Bank Loan |
| Housing Grant | Up to $80,000. For details, please go to: CPF Housing Grant | Up to $30,000. For details, please go to: CPF Housing Grant | No Grant | No Grant |
| Mortgage Servicing Ratio (MSR) | Applicable | Applicable | Not Applicable. | Not Applicable. |
| Total Debt Servicing Ratio (TDSR) | Applicable | Applicable | Applicable. For details, please refer to: What is TDSR & LTV and how they affects you? | Applicable. For details, please refer to: What is TDSR & LTV and how they affects you? |
| Loan To Value (LTV ) | Not Applicable | Not Applicable | Applicable. For details, please refer to: What is TDSR & LTV and how they affects you? | Applicable. For details, please refer to: What is TDSR & LTV and how they affects you? |
| Resale Restriction | To fulfill Minimum Occupation Period of 5 years before selling to Singapore or Singapore PR families. | To fulfill Minimum Occupation Period of 5 years before selling to Singapore or Singapore PR families. To fulfill MOP of 10 years before selling to any nationality | No Restriction | No Restriction |
| Seller Stamp Duty on the sales price or market value or the property, whichever higher. | Not Applicable | Not Applicable | For Property Purchase Between 14 Jan 2011 and 10 Mar 2017 (all inclusive): Up to 1 Year: 16% 1 Yr Up to 2 Yr: 12% 2 Yr Up to 3 Yr: 8% 3 Yr Up to 4 Yr: 4% For Property Purchase on and after 11 Mar 2017: Up to 1 Year: 12% 1 yr up to 2 yr: 8% 2 yr up to 3 yr: 4% | For Property Purchase Between 14 Jan 2011 and 10 Mar 2017 (all inclusive): Up to 1 Year: 16% 1 Yr Up to 2 Yr: 12% 2 Yr Up to 3 Yr: 8% 3 Yr Up to 4 Yr: 4% For Property Purchase on and after 11 Mar 2017: Up to 1 Year: 12% 1 yr up to 2 yr: 8% 2 yr up to 3 yr: 4% |
| Tenure | 99 years leasehold | 99 years leasehold | Mainly Freehold, 999 or 99 years leasehold | Mainly Freehold, 999 or 99 years leasehold |
| Restriction to purchase second property | To fulfill Minimum Occupation Period of 5 years before purchasing next property | To fulfill Minimum Occupation Period of 5 years before purchasing next property | No Restriction | No Restriction |
| Additional Buyer's Stamp Duty (ABSD) | Not Applicable | Not Applicable | Applicable. For details, please refer to: What is ABSD and how does it affects you? | Applicable. For details, please refer to: What is ABSD and how does it affects you? |
| When can start renting out? | During MOP period, only room rental. After MOP Period, can rent out entire flat but tenant profiles are restricted by Non-Citizen Quota. For details, please refer to Renting out your HDB Flat | During MOP period, only room rental. After MOP period, can rent out entire apartment. | No Restriction | No Restriction |
| Eligibility for Equity Loan | No | Yes | Yes | Yes |
| Maintenance Fee / Conservancy Fee | Approximate $50 to $95 per month, depending on estates | Approximate $200 to $400 per month | Wide range between $300 to thousands over per month | Depends on owner upkeep requirements. |
Other pages you may be interested in:
Edwin Goh
With his love for numbers and data, Edwin has provided valuable insights to his clients and readers to empower them to make better-informed real estate decisions.
Enjoy what you have been reading? Join our mailing to get valuable insights delivered to your inbox today.