Guide to Buying an Executive Condominium
Who is eligible to buy Belysa EC?
. A Singapore citizen whose partner is a Singapore citizen or PR.
. At least 21 years old.
. With total monthly household income not exceeding $10,000.
. Forming a valid family nucleus as defined by HDB.
. Have NOT bought a flat direct from HDB, or with a grant, more than once.
. None of the applicants or occupiers has owned private property within last 30 months.
For details and full set of conditions, see HDB’s Criteria for Buying an EC.
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What do I do if I’m interested?
Contact us and we will email you all the information and advise on the procedure.
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Can I buy Copen Grand EC if I currently own another property?
If you currently own private property or an EC:
No, sorry. You need to sell off your private property or EC and wait for 30 months first.
If you own a flat bought direct from HDB or a resale flat bought with a CPF housing grant:
You have to live in your flat for at least 5 years, before you can apply to buy Copen Grand.
If you own a resale HDB flat bought without any housing grant:
Yes, you can apply to buy a unit.
For the last 2 situations above, you are required to sell your flat within 6 months of getting the key to your EC unit. You must fulfill the necessary MOP for selling the flat at that time.
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Why should I buy this Pasir Ris EC?
Reasons to buy an EC:
. Eligible first timers can get $30,000 CPF housing grant; no resale levy on 2nd timers.
. Condo lifestyle at attractive pricing about 20% below new private condos.
. With full condo facilities, finishes & fittings.
. Can be sold to Singapore citizens or PRs after 5 years; potential to reap capital gains.
. Fully privatized and can be sold to foreigners or developers after 10 years.
Reasons to consider the Copen Grand:
. Good site layout: all units face the pool or the low-rise housing & park connector behind.
. Good block layout: minimal blockage, good cross-ventilation, away from roads.
. Functional unit design: efficient, minimal space wastage, very usable.
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Do I need to pay any commissions or fees or admin charges?
No, not at all. We will give you all the information, help you book your unit directly from the developer, and take care of your paperwork, without charging you anything.
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What’s the payment schedule like for Copen Grand EC?
If you currently do NOT already have a housing loan:
- First 5% cash (via a cheque) at time of booking the unit.
- Next 15% within 9 weeks of booking the unit. This 15% can be from CPF Housing Grant, or CPF funds, or cash.
- The remaining 80% can be from CPF funds, bank loan, or cash. This is payable progressively, which means you (or the bank if you take a loan) pays out the money as and when construction work reaches certain stages. If you take a loan, your monthly installments are based on the amount disbursed.
If currently paying off a housing loan:
- First 5% cash (via a cheque) at time of booking the Copen Grand EC unit.
- Next 15% within 9 weeks of booking the unit. Of this 5% must be from your own cash, and the remaining 10% can be from CPF Housing Grant (if eligible), or from CPF funds, or from cash.
- When foundation works complete, another 10% is payable to the developer. This can be from CPF funds, or cash.
- When reinforced concrete (RC) framework is completed, another 10% is payable to the developer. This can be from CPF funds, or cash.
- The remaining 60% can be from CPF funds, bank loan, or cash. This is payable progressively, which means that you (or the bank if you take a loan) pays out the money as and when construction work reaches certain stages.
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Can I request for a HDB loan instead of taking a bank loan?
HDB does not give loans for Belysa EC. You will need to get a bank loan after booking your unit.
DEVELOPER SALES
