AskGuru Q&A Community

Good morning Dr,

Yes you are eligible to purchase a privatised resale EC (10 years old and above).

Foreigner arent eligible to buy any resale EC that is not privatised. Combined income ceiling is only applicable to new EC or resale EC within 5 years old.

Care to share more about your requirements and budget in mind? Do you have any preferred EC you are looking at?

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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Good morning Dr,

There is no income ceiling for purchasing resale EC, and singaporean + foreigner couple can purchase. It will have to be a joint name purchase matrimonial property to qualify for ABSD remission.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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Buyer Mr Wang & Ms Ng We want to convey our thanks to Ivan, who helped us find our first home. Ivan was very responsive when we first met, and took time to understand our needs and requirements for our first home. He helped us narrow down our criteria and gave us good advice on how to structure our mortgage as well. He also made a great recommendation of an area we never thought of, and it was where we eventually bought our home. We appreciate Ivan's thoroughness in pros and cons of all our options that we viewed. We never felt pressured or rushed to make a decision. In fact, Ivan gave honest and useful inputs on the considerations of acting immediately or waiting. All in all, it was a very smooth experience and we ate very happy with the unit we bought. Thank you very much, Ivan! Read More

Dr.Kirthana Vasudevan

You may text 9620 0827  for a casual chat. We can share with you the market condition, timeline and transaction process and an estimated financial statement.

Warmest regards

Gavin Read More

Hi Sir,

For resale EC above 10 years old, it is considered fully privatised and therefore even a foreigner is eligible to buy. For your case, if you are buying as married couple then you will not be required to pay any Additional Buyer Stamp Duty. However if you are not married then the higher tier Additional Buyer Stamp Duty of 30% will be applicable.

Feel free to contact me so that I can give you an overview of the purchase process and highlight the important issues that you may want to take note of.

Regards,
Nick Tan
(M) +65 9644 4854 
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Cert-in-REA
(E) nick96444854@gmail.com
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Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Yes you can. I propose to do a bank loan before you decide what you plan to purchase and which area.

Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex Read More

Hi Dr,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes sure no issue with that as the resale EC is already considered a privatised property.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi Dr.Kirthana Vasudevan

1. For resale EC above 10 years old, it is considered fully privatised and there is no income ceiling.
Everyone will be eligible to buy even foreigner.

2. Do you intend to take loan for your purchase?
If yes, Before shortlisting project/unit, I will suggest to check your in principal approval of your loan from banker.
I can connect you with reputable banker for this, free of charge and no obligation.

3. Based on $1 mill, and assuming loan is 75%
5% Cash = $50,000
20% Cash/CPF = $200,000
BSD (Cash/CPF) = $24,600
ABSD (Cash/CPF) = might apply
Legal fee = $2,500 (estimated)
Please contact me at (65) 96608508  and I can share the breakdown for this calculation including timeline.

4. How many bedrooms are you looking at and which area you prefer?
I have current price list, promo of every projects in Singapore and will be glad to advise you

I will be glad to assist, no agent fee from private property/EC buyer
Appreciate if you can contact me at (65) 96608508 
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More

Hi Dr Kirthana,
Any EC that is more than 10 years old is treated like any other private apartment or condo. As such, there is no income restrictions and anyone can buy them, including foreigners.

As this is a big ticket item, it is wise to compare all options before commiting yourself to one, as not all EC's or condos are good buys. Do contact me so that I can assist you find the best investment for the future based on your requirements.
Cheers!

Elan Govan
MABA (Lancaster)
 90170747 
jayelan@gmail.com
www.goodpropertiesguide.com Read More

Yes, absolutely. Read More