MOP for Executive Condominium – Singapore HDB flat for sale
Singapore HDB flat for sale – The Minimum Occupation Period (MOP) for new Executive Condominium (EC) owner is 5 years which is computed from the Temporary Occupation Period (TOP) date. During the 5 year MOP, the owner cannot invest in private residential property.
Higher Quota of the EC Supply for First-time Applicants during Initial Launch Period
From 2 March 2012, the developers will set aside 70% of the supply for first-timers during the initial launch period.
Second-timers not required to Pay Resale Levy
The resale levy will not apply to new EC projects which are launched from 2009 onwards, after the La Casa. Singapore HDB flat for sale.
To buy an EC in the open market
After the 5 year MOP (from 6th -10th year), EC can be sold in the OPEN MARKET (only to SC or SPR). From 11th year onwards, all restrictions will be lifted. Foreigners & Corporate bodies can also buy EC in the open market. Buyers need not form a family nucleus; singles above 21 years old can also buy EC in open market. There is no CPF Housing Grant for buying EC in the open market.
Ex owners of EC need to pay Resale levy to buy 2nd subsidised flat from HDB
If ex owners of EC want to buy a 2nd subsidised flat from HDB after selling their EC, they are liable to pay a resale levy of $55,000 and they have to wait for another 30-month period from the effective date of disposal before they are allowed to apply for the 2nd subsidised flat from HDB.
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