richwang
07-10-10, 14:19
I heard the show flat of Yishun EC site will open over the weekend.
Just in case some buyers are reading this forum, I am trying to get the experts to comment on EC rules in plain English and share some tips at practical level.
Who can buy?
===========
1) One Singapore Citizen + Another Singapore Citizen or PR in family nucleus;
Tips, you grab parants, sibling, or Fiance/Fiancee.
2) Monthly Income less than S$10,000
Tips, bonus is not counted, you can appeal if you are just above the limit for a few hundread dollars.
3) Cannot own private property now or in the past 2 and half years (30 months);
Tips, sell to a friend/relative and rent back with long lease.
When can sell?
===========
1) Cannot sell in 5 years (that is we will see you there 8-9 years later counting the construction time);
Tips: partly rent it out.
Why should I buy EC?
================
1) S$30,000 grant, no Cash Over Valuation, lower price, better usable spaces
What are my risks?
===============
1) Most ECs are lauched during property boom, you need to expect a down turn and then you can make money
I am sure there are lots of other questions and tips, so let's get the forum rolling ...
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatEligibilitytobuynewHDBflat?OpenDocument#Citizenship
Thanks,
Richard
Just in case some buyers are reading this forum, I am trying to get the experts to comment on EC rules in plain English and share some tips at practical level.
Who can buy?
===========
1) One Singapore Citizen + Another Singapore Citizen or PR in family nucleus;
Tips, you grab parants, sibling, or Fiance/Fiancee.
2) Monthly Income less than S$10,000
Tips, bonus is not counted, you can appeal if you are just above the limit for a few hundread dollars.
3) Cannot own private property now or in the past 2 and half years (30 months);
Tips, sell to a friend/relative and rent back with long lease.
When can sell?
===========
1) Cannot sell in 5 years (that is we will see you there 8-9 years later counting the construction time);
Tips: partly rent it out.
Why should I buy EC?
================
1) S$30,000 grant, no Cash Over Valuation, lower price, better usable spaces
What are my risks?
===============
1) Most ECs are lauched during property boom, you need to expect a down turn and then you can make money
I am sure there are lots of other questions and tips, so let's get the forum rolling ...
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatEligibilitytobuynewHDBflat?OpenDocument#Citizenship
Thanks,
Richard