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The CPF Housing Grant available for buying an Executive Condominium (EC) unit from a property developer is:
You and any co-applicants must be eligible for the grant at the point of booking the EC unit.
You will be considered a first-timer applicant if you have not received any housing subsidy from HDB, which means that you must not:
You may apply for the Citizen Top-Up of $10,000 when a qualifying member of your SC/ SPR household obtains Singapore citizenship. You have to submit your application to HDB within 6 months of being eligible for it.
You may apply for the CPF housing grant when booking your EC unit with a property developer.
CPF housing grant is fully credited into the CPF Ordinary Accounts of eligible SC applicants. It is not paid in cash.
The CPF housing grant can be used to:
If you are buying an EC unit with a housing loan from a financial institution, the grant will be included in the computation of withdrawal of CPF savings (up to the applicable limits). The grant cannot be used for the minimum cash downpayment (if any) and monthly mortgage instalment payments.
Mr O (SC) and Mrs O (SPR) have booked an EC unit. Both are first-timers and their monthly household income at the point of application is $10,500.
A grant of $10,000 will be fully disbursed to Mr O, the SC applicant. Subsequently, if Mrs O obtains Singapore citizenship or the couple has an SC child, they may apply for the $10,000 Citizen Top-Up.
Get started with your purchase by finding out about the buying process for an Executive Condominium unit.
Check out the list of projects and information on buying an Executive Condominium unit on the open market.
Learn about the conditions that buyers have to follow after purchaing an Executive Condominium unit from a property developer.