Eligibility & Purchase Guide
Everything you need to know about buying an Executive Condominium
EC Eligibility Criteria
Basic Requirements
- Citizenship: At least one applicant must be a Singapore Citizen
- Family Nucleus: Must form a family nucleus (spouse, children, parents, or siblings)
- Income Ceiling: Household income not exceeding $16,000 per month
- Property Ownership: No current ownership of private property in Singapore or overseas
HDB MOP Requirements
If you currently own an HDB flat:
- Minimum Occupation Period (MOP): Must have fulfilled the 5-year MOP
- HDB Disposal: Must sell your HDB flat within 6 months of taking possession of EC
If you don't own any property:
- First-time Buyers: Can proceed with EC application directly
CPF Grants & Financing Options
CPF Housing Grants
Family Grant
- First-timers: Up to $30,000
- Second-timers: Up to $15,000
- Income ceiling applies: $14,000 for first-timers, $21,000 for second-timers
Half-Housing Grant
- Amount: Up to $15,000
- For buyers not eligible for full Family Grant
Proximity Housing Grant
- Amount: Up to $30,000
- For buyers living with or near parents
Bank Loans & Financing
Important Note
ECs are NOT eligible for HDB loans. You must secure a bank loan.
Mortgage Servicing Ratio (MSR)
- MSR Limit: 30% of gross monthly income
- Includes all housing loans and overdrafts
Bank Loan Features
- Competitive interest rates
- Up to 25-year loan tenure
- Can use CPF for down payment
- Various repayment options
Payment Schemes Comparison
| Payment Stage | Normal Payment Scheme | Deferred Payment Scheme |
|---|---|---|
| Upon Booking | 20% of purchase price | 20% of purchase price |
| During Construction | Progressive payments based on construction stages | Only interest on loan amount |
| Upon TOP | Remaining balance (if any) | 80% balance of purchase price |
| Interest | Start paying interest as construction progresses | Only interest during construction period |
| Best For | Buyers ready to start loan repayments immediately | Buyers who prefer lower payments during construction |
Resale Levy (For Second-time Buyers)
What is Resale Levy?
If you have previously bought a subsidised flat from HDB, you will need to pay a resale levy when buying an EC.
Resale Levy Rates
- 3-room or smaller: $15,000
- 4-room: $25,000
- 5-room or larger: $40,000
Payment
- Can be paid using CPF or cash
- Payable upon booking of EC unit
- Cannot be refunded or transferred
E-Application Process
How to Apply for Coastal Cabana EC
Important: E-application is non-obligatory but required for balloting if demand exceeds supply.
Before You Apply
- Ensure you meet all eligibility criteria
- Prepare required documents (IC, income documents)
- Check your CPF balance for down payment
- Get preliminary bank loan approval
Application Process
- Submit online application during preview period
- Select preferred unit types and floors
- Pay application fee (typically $500-$1,000)
- Wait for balloting results (if oversubscribed)
Buying Timeline (Preview to Booking)
1
E-Application Submission
Submit application during preview period (Dec 6-21, 2025)
Required documents and application fee
2
Balloting Process
Balloting conducted if oversubscribed
Priority given to first-timers
3
Booking a Unit
Successful applicants book specific units
20% down payment required
4
Sign S&P Agreement
Legal completion within 8 weeks
Legal fees and loan arrangement
Cash/CPF Requirements at Each Stage
| Stage | Payment Required | Payment Method | Example (Based on $1.5M unit) |
|---|---|---|---|
| E-Application | Application Fee | Cash/Cheque | ~$500 - $1,000 |
| Upon Booking | 20% Down Payment | CPF + Cash (min 5% cash) | $300,000 (min $75,000 cash) |
| Legal Completion | Legal Fees + Stamp Duty | Cash | ~$15,000 - $20,000 |
| During Construction | Progressive Payments | Bank Loan + CPF | As per construction milestones |
| Upon TOP | Final Payment | Bank Loan + CPF | Balance amount (if any) |
Frequently Asked Questions
PRs cannot be the main applicant for an EC, but they can be listed as an occupier if their spouse is a Singapore Citizen and meets all other eligibility criteria.
You should secure loan approval before booking. If you cannot get approval after booking, you may forfeit your down payment. Always get in-principle loan approval first.
No, you cannot sell your EC before completing the 5-year Minimum Occupation Period. After 5 years, you can sell to Singapore Citizens and PRs only. After 10 years, you can sell to foreigners as well.
You can use up to the Valuation Limit (VL) of the property or purchase price, whichever is lower, subject to having sufficient CPF balance. You must maintain a minimum sum in your CPF accounts.
ECs have eligibility criteria, income ceiling, and MOP restrictions. However, they offer subsidies, no ABSD for citizens, and can use CPF housing grants. After 10 years, ECs become privatised and similar to private condos.
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