Anonymous
Hi there was looking through the eligibility conditions in getting an EC, and am kinda confused. Im currently waitig for me and my gf’s BTO to be ready, but just chanced upon EC so just wanted to take a look!
As per HDB, it mentioned the condition as not owning a property or disposed any. However at the bottom they mentioned that you are able to apply for EC as long as i only own not more than 1 flat bought from HDB. Could someone explain if in the future we only have 1 HDB, can we get an EC?
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Henry Hoe Yong Zhi
07 Jun 2019
Music & Audio Technology at Singapore Polytechnic
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Nope. You cannot purchase an EC if you are currently holding onto a HDB. You will need to sell your current HDB within 6 months of buying an EC.
EC works just like HDB but is actually a condominium which converts into a "private property" after 10 years, just that it is usually 99 years and not freehold. After 5 years from TOP you can sell it to Singapore citizens or PRs, and after 10 years you can sell it to the open market (foreigners or businesses).