Can I Buy a BTO or EC or Resale Flat or Private Condo

General

Last Updated: Apr 04, 2016

Can I Buy a BTO or EC or Resale Flat or Private Condo?

(BTO – Government Built-To-Order flat / EC – Executive Condominium)

Four Important Points to note when I want to buy an EC:
(other conditions apply on case-by-case basis)

	Criteria	To Note
1. If you are a couple	SC + SC SC + SPR; or SC + Foreigner with SC child	Eligible to consider EC Eligible to consider EC Eligible to consider EC (But without SC child, not eligible)
2a. Do you own a Private Condo or EC now?	Yes	If you own a Private Condo now, you are not eligible to buy an EC right away. You must dispose off your unit and wait out 30 months before you can purchase a BTO or EC. Sell your EC and wait 30 months before you can buy your EC. Eligible if you intend to buy a Resale Flat. You need not dispose off your unit first. You can collect the keys to your Resale Flat and then sell your unit within 6 months of your Resale Flat keys collection.
2b. Do you own a BTO / Resale Flat now?	Yes	Eligible to buy an EC if you have fulfilled your 5-years Minimum Occupation Period (MOP)
3. Maximum of 2 nos. of entitlement for subsidy or grant per person	Own a BTO / EC (subsidized flat) now:	Can buy BTO / EC (subsidized flat but resale levy for 1^st unit must be paid first). Note that if your 1^st EC is fully privatised, you have to dispose it off and wait 30 months to buy your 2^nd EC.
	Own a BTO / EC (subsidized flat) now:	Can buy Resale Flat (take note that Resale Flat is eligible for Grant only for 1^st timers. 2^nd timers are not eligible for Grant)
	Own a Resale Flat (with Grant) now:	Can buy BTO (subsidized flat)
4. Maximum Household Income	$14,000	Housing Grant Amount: • Income: $10,000 & below Grant: $30,000• Income: $10,001-$11,000 Grant: $20,000• Income: $11,001-$12,000 Grant: $10,000• Income: >$12,000-$14,000 Grant: $0

Any Income Restriction when buying BTO / EC / Resale Flat / Private Condo?

Type of Flat	What Income Restriction
I want to Buy BTO	Combined household income ceiling cannot be > $12,000 (for Singaporean families; not > $6,000 for singles)
I want to Buy EC	Combined household income cannot be >$14,000
I want to Buy Resale Flat	No income restriction
I want to Buy Private Condo	No income restriction

(Note: HDB Flat and EC Loans must pass Mortgage Servicing Ratio assessment while Private Condo Singapore property Bank Loan must pass Total Debt Servicing Ratio assessment)

I have an existing HDB Flat, can I buy a BTO / EC / Private Condo / Resale Flat?

Type Of Flat	Must Do	If Not?
I want to Buy BTO	MUST fulfill 5 years Minimum Occupation Period (MOP). And MUST sell off existing 1^st HDB, then can collect keys to BTO.	If do not sell off existing 1^st HDB, then CANNOT collect keys to BTO. If want to collect keys to BTO, must PAY MONTHLY RENT to HDB for the new BTO unit for time being until the existing 1^st HDB is sold. HDB will not consider buying your existing old 1^st HDB. They rather buy your new BTO.
I want to Buy EC / Private Condo	MUST fulfill 5 years Minimum Occupation Period (MOP) Can still stay in existing 1^st HDB and sell it off within 6 months of collecting keys to EC / Private Condo
I want to Buy Resale Flat	MUST fulfill 5 years Minimum Occupation Period (MOP) MUST sell off existing 1^st HDB or do a CONTRA ie. simultaneously selling existing 1^st HDB and buying a Resale Flat.

HDB Loan Eligibility (HLE) Rules:

No. Of HDB Loans	% Of Loan That Can Be Used
1^st Loan from HDB	90% Loan-To-Value (LTV) ie. loan up to 90% of the price of the property
2^nd Loan from HDB	50% of cash proceeds from selling the 1^st HDB unit (either BTO / Resale Flat) has to be put back into the CPF account.

……………………………………….

In Summary:

Type of Ownership	Wish to Buy	Yes/No	Condition
(new) BTO	BTO Resale Condo EC	√ √ √ √	Fulfill MOP. Sell/Contra. Resale Levy applies. Fulfill MOP. Sell/Contra. Resale Levy applies. Fulfill MOP. Can choose to keep both houses. Fulfill MOP. Sell/Contra. Resale Levy applies.
(new) EC	BTO Resale Condo EC	√ √ √ **	Fulfill MOP. Sell/Contra. Resale Levy applies. Fulfill MOP. Sell/Contra. Resale Levy applies. Fulfill MOP. Can choose to keep both houses. Fulfill MOP. Eligible if buy between 5yrs to 10yrs of 1st EC lifespan. If after 10yrs when 1st EC is fully privatised, must sell 1st EC & wait 30 months to buy 2nd EC.
Resale	BTO Resale Condo EC	√ √ √ √	Fulfill MOP. Sell/Contra. Resale Levy applies. Fulfill MOP. Sell/Contra. Resale Levy applies. Fulfill MOP. Can choose to keep both houses. Fulfill MOP. Sell/Contra. Resale Levy applies.
Condo	BTO Resale Condo EC	√ √ √ **	Must sell Condo within 6 months of collecting keys to BTO. Must sell Condo within 6 months of collecting keys to Resale. Can choose to keep both houses. Must sell Condo. Wait 30 months before you can buy EC.

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