I am a Singaporean PR and am considering to buy an executive condo from open market. If I buy a unit from an owner who has lived there for at least 5 years but less than 10 years, what restrictions are there for me to sell or sublet the whole unit out? Thank you for your advice.
Executive Condominium (EC) owners who have occupied their EC and met the 5-year minimum occupation period (MOP) can sell their EC in the open market. The 5-year MOP is computed from the date of issuance of Temporary Occupation Permit (TOP) in respect of each EC.
After the 5-year MOP, from 6th to 10th year, EC can be sold in the open market to those who can meet the following eligibility conditions.
From 11th year, all restrictions will be lifted. Foreigners and corporate bodies can buy ECs in the open market from 11th year of the EC project.
There is no restrictions on you subletting your resale EC but you may only sell to foreigners or corporations once the entire EC is in its 11th year.
If I am able to assist you in the purchase of your EC, do let me know :)
web : www.96952550.com
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There are a few ECs for sale that U can buy now. As U r a PR, you may buy those above 5 yrs old with no restrictions on rental.
Do call upon me to assist you in your search.
Patrick Oei Wijaja 8182 1338
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