Resale Levy for EC Purchase 2017-07-11T23:03:52+00:00

Resale Levy for EC Purchase

Resale Levy for Second-Timer EC Applicants

Second-timer applicants who buy EC Executive Condo units directly from property developers have to pay a resale levy, similar to second-timer applicants who buy BTO flats. The new requirement will be applied to EC Executive Condo land sales which are launched on or after 9 Dec 2013, including those where the tenders have not closed.

EC Cooling Measures

Currently, second-timer applicants who buy EC Executive Condo units directly from property developers benefit from the lower EC Executive Condo prices arising from the initial eligibility and ownership restrictions imposed on EC Executive Condo purchases. However, they do not need to pay a resale levy. The alignment of treatment with second-timer applicants who buy BTO flats will ensure greater parity.

Resale Levy Payable

You and the other essential occupier(s) and their spouses who are buying an EC unit, will have to pay premium or resale levy, if you:

  • own an existing flat bought from HDB; or
  • have sold a flat bought from HDB; or
  • have received the CPF Housing Grant to buy an EC unit, DBSS flat or an HDB resale flat; or
  • have transferred at market value a flat bought from HDB or an HDB Resale flat bought under the CPF Housing Grant Scheme; or
  • have ever taken other forms of housing subsidy such as enjoyed rehousing benefits under the Selective En bloc Redevelopment Scheme.

Summary of Resale Levy Payable

You can check your status at the point of your EC application to determine which resale levy policy applies to you.

First Subsidised Flat Type Resale Levy $
Households
Resale Levy $
Single Grants Recipients
Resale Levy %
Households
Resale Levy %
Single Grants Recipients
2-room $15,000  $7500 10% 5%
3-room $30,000 $15,000 20% 10%
4-room $40,000 $20,000 22.5% 11.25%
5-room $45,000 $22,500 25% 12.5%
Executive Flat $50,000 $25,000 25% 12.5%
Executive Condominium $55,000

Resale Levy $ applies to first subsidised flat sold on or after 3 March 2006.

Resale Levy % applies to first subsidised flat sold before 3 March 2006. The principal amount of the resale levy is computed as a percentage of the transacted resale price or 90% of the market value of the flat, whichever is higher. Interest accrues on the principal amount payable.

Payment for the Resale Levy

Status When to Pay How & Where to Pay
Own an existing subsidised flat at the point of signing the EC Sale and Purchase Agreement Upon the sale of the subsidised flat

You are given up to six months from the date of issuance of the Temporary Occupation Permit for the EC development, to sell or transfer your existing HDB flats.

Resale levy will be deducted from the cash proceeds upon completion of the resale transaction. Any shortfall will have to be made good in cash.
Sold subsidised flat between 19 May 1997 to 2 Mar 2006;

Sold subsidised flat on or after 3 Mar 2006;

Previously sold an EC unit which was bought from a Developer and have waited out 30 months as at the point of current EC application

Before the EC buyers sign the EC Sale and Purchase Agreement Payment to the HDB branch that managed the HDB flat that was sold, by Cash or Cashier’s Order only. (No personal cheque or CPF money to be used for payment of resale levy)
Sold subsidised flat before 19 May 1997 Before the EC buyers sign the EC Sale and Purchase Agreement Developer will collect Cashier’s Order (in favour of “HDB”) from the EC buyers and forward it to HDB as payment for premium.

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