The eligibility criteria for purchasing an Executive Condo (EC) is designed to ensure fair access and responsible ownership among interested buyers. One of the key requirements is that applicants must be citizens or permanent residents of Singapore, prioritizing local homeowners over foreign investors. This policy promotes homeownership and stabilizes the real estate market.
Additionally, individuals must meet specific income thresholds set by the Housing & Development Board (HDB). These income levels are categorized based on family size and type to ensure affordability. For top-tier executive condos, buyers are expected to have substantial incomes or significant down payments, reflecting the exclusive nature of these properties within the housing market.
Buying an Executive Condo can be a top-tier decision for those seeking a premium residence. With clear eligibility criteria, this article has outlined the key requirements to ensure a smooth purchasing process. By understanding these guidelines, prospective buyers can navigate the market with confidence and secure their dream home among the best that the real estate sector offers.