Do you know that under current regulations, all eligible Singaporeans can acquire 2 subsidised BTO flats from HDB which includes a Executive Condominium (EC)?
CPF Housing Grant for Family is available for Singapore Citizens who must not have previously enjoyed any housing subsidy and/or grant and also meet all the prevailing eligibility conditions for the grant and for buying an EC unit.
The eligible family nucleus for the CPF Housing Grant are either Married Couple or Fiancé/Fiancée (applicants must produce their marriage certificate within 3 months after taking possession of the EC unit).
NO ABSD : No ABSD payable for HDB Upgraders.
NO ETHNIC RESTRICTION : No restriction on race when buying or selling.
PRICE SUBSIDIES : Lower land cost and available CPF Housing grant.
NO SELLER STAMP DUTY : Owner occupied estate. There is no investors price hike.
BUY FIRST, SELL LATER : Can buy first while still staying in current HDB flat, no need to hassle on too many house moving and lesser upfront cost.
NO 2nd LOAN RESTRICTION : Up to 75% LTV (loan to value), full CPF usage.
CONDO LIFESTYLE LIVING : Full condo facilities. Lower entry price as compared to new private condominiums.
THE REASONS WHY EXECUTIVE CONDOMINIUMS ARE SO ATTRACTIVE
- It is a condominium after all – security, facilities, privatised after meeting requirements
- Low price entry as compare to private condo new launch.
- Desired by many, owned by few
- No ABSD of 20% if you are still holding your HDB flat currently
- Getting up to $30,000 of Cpf grant for those eligible
- Housing loan of up to 75% even if you are still holding your HDB flat currently
- Built-in potential growth. Capital appreciation when selling after MOP.
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