Eligibility

As Esparina is an executive condominium (EC), you must meet the following conditions in order to buy a unit. If you need help in assessing your eligibility, you can call 9633 8633 for assistance or send a query in the form below.

Source:  HDB web site (www.hdb.gov.sg)

Citizenship
  • You must be a Singapore Citizen
  • Your family nucleus must include at least another Singapore Citizen or Permanent Resident.
Age
  • You must be at least 21 years old at the time you apply for the EC
  • If you are applying under Joint Singles Scheme, you must be at least 35 years old
Family Nucleus

You must form a family nucleus under at least one of the following schemes:

  • Public Scheme
    You, the applicant, and;
    * Your spouse, and children (if any)
    * Your parents, and siblings (if any)
    * Your children under your legal custody (if you’re widowed or divorced)
  • Fiance/Fiancee Scheme
    You, the applicant, and your fiance/fiancee
  • Orphan Scheme
    You, the applicant and;
    * Your unmarried siblings, or
    * Another single unrelated orphan
  • Joint Singles Scheme
    You, the applicant and another single person
Income Ceiling
  • Your total monthly household income must not be more than $10,000
Ownership in Private Property

You, your spouse, & any occupiers listed in the Application, or their spouses, must not own or have disposed of, or have an estate or interest in any other flat, house, building or land.
* Within 30 months before the date of application, and
* Between the application date and the date of taking possession of your Esparina Condo

Owners/Ex-owners of HDB flats / DBSS flats / EC units

Each Singaporean household can buy the following housing unit only twice:
* a flat from the HDB;
* a resale flat with the CPF Housing Grant;
* a DBSS flat from developer;
* an EC unit from developer.

If you have already bought two such housing units, you will not be eligible to apply for, or be listed as an essential occupier in an application.

First-timer Applicants

You and the essential family members listed in your application to buy the flat must not:
* Own a flat bought direct from HDB, DBSS flat or Executive Condo bought from developer
* Have sold a flat bought direct from HDB, DBSS flat or Executive Condo bought from developer
* Have received the CPF Housing Grant for the purchase of an HDB resale flat
* Have enjoyed other forms of housing subsidy (eg. SERS, privatisation of HUDC estate, etc)

95% of the supply will be set aside for first-timers during the initial launch period.

Second-timer Applicants

Where you or the essential family members in your application have owned/sold or are currently owners of:
* Any HDB flat that was bought from HDB, or
* Any resale flat that was bought under the CPF Housing Grant Scheme, or
* A DBSS flat or an EC bought from the developer, or
* Have enjoyed other forms of housing subsidy (eg. SERS, privatisation of HUDC estate etc.)

Second-timers buying the Esparina Condo are not required to pay Resale Levy

Existing Owner or Ex-Owner

* Flat bought directly from HDB
* DBSS flat bought from the developers
* Resale flat bought under the CPF Housing Grant Scheme

If you belong to any of the above categories, you may apply to buy an EC on condition that a 5-year period (excluding any period of subletting of the whole flat) has lapsed from the #date of taking possession of the flat to the date of application for a new EC.

# The date of taking possession refers to following dates:
* Date of key collection, for flats that are bought direct from HDB
* Date of resale completion, for resale flats bought from open market with CPF Housing Grant
* Date of transfer at market value of the flat bought with CPF Housing Grant
* Date of key collection for EC/DBSS flats bought from the developer

Ex-owners of an EC

Are you, your spouse or any of the essential occupiers listed in the application an ex-owner of an Executive Condominium bought directly from the developer? If yes, you would need to meet a 5-year period from the date of taking possession of the earlier Executive Condominium.

30-Month Period
In addition, you need to wait out a 30-month period from the effective date of disposal (i.e., date of legal completion of the sale of your Executive Condominium, evidenced by the Notice of Transfer or such other documentary evidence as HDB may require) of the Executive Condominium before you can apply to buy Esparina Executive Condominium directly from the developer.

Essential Occupiers

Any person applying to buy an HDB flat or be listed as an occupier must not be currently listed as an essential occupier of:
* An existing HDB flat bought directly from HDB,
* A DBSS flat bought under the CPF Housing Grant Scheme, or,
* A resale flat bought under the CPF Housing Grant Scheme

However, you may be eligible if you have stayed in the existing flat for at least 5 years from the #date of taking possession of the existing flat to the date of application for a new flat.

Divorcees

A divorcee may apply to buy an HDB flat or be listed as an occupier after 5 years from the date the divorce is made absolute to the date of application for a new flat if his matrimonial flat was:

  • Bought directly from HDB,
  • A DBSS flat bought under the CPF Housing Grant Scheme, or
  • A resale flat bought from open market under the CPF Housing Grant Scheme

However, the 5 years period will not apply if:
* The matrimonial flat was bought from the open market without any CPF Housing Grant
* He is applying for the flat with his parents or new spouse

Person Who Has Bought an EC/DBSS Flat with CPF Housing Grant

A person who bought an EC or DBSS flat with CPF Housing Grant and terminated the Sale and Purchase Agreement may apply to buy Esparina Condo.

However, this is allowed on the condition that a 5-year period has lapsed from the termination date of the Sale & Purchase Agreement of their earlier EC or DBSS flat purchase, to the date of application for Esparina Condominium.

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Conditions after Purchase of Esparina Condo
Selling of current HDB / DBSS flat in the open market

If you currently own an HDB / DBSS flat, you and/or your spouse must dispose of the flat within 6 months from the date of issuance of the Temporary Occupation Permit in respect of Esparina Executive Condominium (EC).

If you intend to apply to purchase an EC where the Temporary Occupation Permit for the EC has been issued, you will be required to dispose of your existing HDB / DBSS flat within 6 months from the date the Developer serves the Notice of Vacant Possession on you.

Enjoying of Subsidy

You and your spouse will be considered as having enjoyed a housing subsidy when you buy an EC from the developers under the CPF Housing Grant Scheme.

Minimum Occupation Period (MOP)

Sale of the Esparina Executive Condominium (EC)
You have to occupy Esparina for 5 years before you can sell it in the open market.

Essential occupiers in Esparina Condo
Occupiers who are essential in the forming of a family nucleus with you in the EC application must continue to be listed in the application and stay in the EC during the 5-year minimum occupation period.

They cannot make a separate application, or to be listed as occupiers in another application to purchase an HDB flat or another EC within the MOP.

Buying another subsidised housing

If you sell Esparina in the open market, you must wait for 30 months after the sale before you can submit an application to buy:
* a new flat from HDB
* an apartment under Design, Build and Sell Scheme (DBSS) from developers
* another EC from developers

Resale Levy

You are liable to pay a resale levy of $55,000 when you buy a second subsidised flat from HDB or take over ownership of a subsidised HDB flat after selling Esparina if you bought it under the CPF Housing Grant Scheme (after meeting the 5-year Minimum Occupation Period (MOP) and the 30-month period).

If you do not intend to buy a second subsidised flat from HDB, for example, if you are buying a resale flat, a new DBSS flat, an EC from the developer, or a private residential property, you need not pay the resale levy.

Interest in Private Property

You cannot invest in private residential property during the 5-year minimum occupation period.

Source:  HDB web site

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For queries, call 9633 8633 or Leave a Reply

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