Executive Condominium benefit

Discussion in 'Singapore property' started by bolster, Jun 30, 2015.

  1. bolster

    bolster New Member

    Hi Expert,

    Is it true that those who buy Executive Condo, do not need to sell HDB till TOP. No penalty? Loan is still 80%?

    Compare to private Condo, you need to sell first before you can buy?
     
  2. ampark21

    ampark21 New Member

    Hi,

    It is true. You are only required to sell your HDB within 6 months, from the issuance TOP date of the Executive Condo.

    For buying of private condo, you do not need to sell your HDB before you can buy the condo. You can own both HDB and condo concurrently.

    Mark
     
  3. dasimond

    dasimond Member

    Do make sure your HDB had met the Minimum occupation period (MOP) before you make any purchase. And also do make sure you have speak to a banker on the amount of loan you can get, especially if you have not clear the current property loan.

    If loan is not clear, you can only take max 50% loan for your 2nd purchase. Otherwise, it will be max 80% loan.
     
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