Ec From Year 5 To 10

[JoeTed 0]

Hi Hoping to get advice from EC owners and owners-to-be:

I am considering a resale EC that is between 5-10 years old. Based on the two links below I am a bit confused:

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...EC?OpenDocument

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...se?OpenDocument

1) Is the MOP 5-rule similar to the normal HDB resale situation(5 years begins from resale date), or does the MOP only apply from the TOP date?

e.g. If the EC has TOP date in 2005, and I buy resale EC in 2010, does the MOP still apply to me for next 5 years from my purchase date?

2) After 10 years, I understand that the EC becomes private property. Resale is not restricted to SC and SPR only.

At that point, Are there any further constraints from HDB, e.g. MOP ?

Thanks for your help in clearing this one up!

[vowsh 1]

Hi Hoping to get advice from EC owners and owners-to-be:

I am considering a resale EC that is between 5-10 years old. Based on the two links below I am a bit confused:

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...EC?OpenDocument

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...se?OpenDocument

1) Is the MOP 5-rule similar to the normal HDB resale situation(5 years begins from resale date), or does the MOP only apply from the TOP date?

e.g. If the EC has TOP date in 2005, and I buy resale EC in 2010, does the MOP still apply to me for next 5 years from my purchase date?

2) After 10 years, I understand that the EC becomes private property. Resale is not restricted to SC and SPR only.

At that point, Are there any further constraints from HDB, e.g. MOP ?

Thanks for your help in clearing this one up!

Don't waste your $$ on EC if for investment. No value after 10years since is a 99yrs lease. Might as well stay in HDB.

After you for another 5years, do you think the value will go up.

[paperZ 0]

Hi Hoping to get advice from EC owners and owners-to-be:

I am considering a resale EC that is between 5-10 years old. Based on the two links below I am a bit confused:

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...EC?OpenDocument

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...se?OpenDocument

1) Is the MOP 5-rule similar to the normal HDB resale situation(5 years begins from resale date), or does the MOP only apply from the TOP date?

e.g. If the EC has TOP date in 2005, and I buy resale EC in 2010, does the MOP still apply to me for next 5 years from my purchase date?

2) After 10 years, I understand that the EC becomes private property. Resale is not restricted to SC and SPR only.

At that point, Are there any further constraints from HDB, e.g. MOP ?

Thanks for your help in clearing this one up!

1) No MOP required for resale EC. But if you sold within the 1st 3 years, you need to pay seller stamp duty.

2) no constraint after 10 years. Foreigners are eligible to buy.

[vowsh 1]

1) No MOP required for resale EC. But if you sold within the 1st 3 years, you need to pay seller stamp duty.

2) no constraint after 10 years. Foreigners are eligible to buy.

Interested to know when many EC forumers here actually make $$ after 5years. ROI is not good as compare to other Private

[bepgof 20]

Hi Hoping to get advice from EC owners and owners-to-be:

I am considering a resale EC that is between 5-10 years old. Based on the two links below I am a bit confused:

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...EC?OpenDocument

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...se?OpenDocument

1) Is the MOP 5-rule similar to the normal HDB resale situation(5 years begins from resale date), or does the MOP only apply from the TOP date?

e.g. If the EC has TOP date in 2005, and I buy resale EC in 2010, does the MOP still apply to me for next 5 years from my purchase date?

2) After 10 years, I understand that the EC becomes private property. Resale is not restricted to SC and SPR only.

At that point, Are there any further constraints from HDB, e.g. MOP ?

Thanks for your help in clearing this one up!

1. When it is under HDB's regulations, MOP remains at 5 yrs. Once obtained strata title, MOP not in force. Say, now 6yr-old, must stay 4 yr.

2. When become private, all can buy.

Personally regard this as "not so worth" to buy, simply there are better options out there. L99 private ownership exchange hand quite frequently, like changing cloth. Maintenance fee keeps increasing, common property(facilities) get aging and depreciate, buyers always like "NEW", unless no choice. Rule of thumb for L99 private, sell away before 10 yr old, unless intend to stay for long long.

Edited September 21, 2010 by bepgof

[paperZ 0]

From HDB website:

The 5-year MOP is computed from the date of issuance of Temporary Occupation Permit (TOP) in respect of each EC...

Buyers of resale ECs are not eligible for CPF Housing Grant as such ECs are treated as equivalent to “private housing”.

So I think you'll not be subjected to another MOP of 5 years when you bought the EC from open market (resale).

[Warrior88 0]

Interested to know when many EC forumers here actually make $$ after 5years. ROI is not good as compare to other Private

The first ECs was launched in 1999. 100% who are eligible are making profits.

However, I felt the current new launch at $700~750/sq ft are now on the high side.

You could actually get resale FH/L99 condo at $600~650/sq ft w/o HDB restrictions.

Besides their sinking funds are generally stronger and better maintain.

ROI generally in terms of %, Considering the grant and low cost last time,

previous EC owner do make a handsome profit. even thought grant had to be put back into your own cpf.

[paperZ 0]

From HDB website:

The 5-year MOP is computed from the date of issuance of Temporary Occupation Permit (TOP) in respect of each EC...

Buyers of resale ECs are not eligible for CPF Housing Grant as such ECs are treated as equivalent to “private housing”.

So I think you'll not be subjected to another MOP of 5 years when you bought the EC from open market (resale).

Joeted,

You can always contact HDB to check. I called them check on this before and was told that the MOP is only applicable for the first EC owners and not to the resale buyers.

[Warrior88 0]

From HDB website:

The 5-year MOP is computed from the date of issuance of Temporary Occupation Permit (TOP) in respect of each EC...

Buyers of resale ECs are not eligible for CPF Housing Grant as such ECs are treated as equivalent to “private housing”.

So I think you'll not be subjected to another MOP of 5 years when you bought the EC from open market (resale).

If you sell later, there is this cooling period of 30 mths, afterwhich you can buy BTO, DBSS and EC.

So, can only buy resale HDB, pte, good class bungalow next time.

By the way, how much per sq feet are you buying.

[bepgof 20]

From HDB website:

The 5-year MOP is computed from the date of issuance of Temporary Occupation Permit (TOP) in respect of each EC...

Buyers of resale ECs are not eligible for CPF Housing Grant as such ECs are treated as equivalent to “private housing”.

So I think you'll not be subjected to another MOP of 5 years when you bought the EC from open market (resale).

The 5yr mop from top date, is believed the "calculation method" only applicable to 1st owner. When 2nd owner buys over but within 10 yr from top, logically the 5 yr mop rule applies cos EC still subjects to hdb regulations.

Edited September 21, 2010 by bepgof

[paperZ 0]

The 5yr mop from top date, is believed the "calculation method" only applicable to 1st owner. When 2nd owner buys over but within 10 yr from top, logically the 5 yr mop rule applies cos EC still subjects to hdb regulations.

HDB told me that there is no restriction of MOP after the 1st 5 years. Meaning if I am the 2nd owner of an EC purchased at the 6th year, I do not need to stay till the 10th year (from TOP) before I can sell. He said, once after 1st 5 years, it is considered as private although foreigners are not eligilble to buy until after the 10th year.

[foursprings 0]

HDB told me that there is no restriction of MOP after the 1st 5 years. Meaning if I am the 2nd owner of an EC purchased at the 6th year, I do not need to stay till the 10th year (from TOP) before I can sell. He said, once after 1st 5 years, it is considered as private although foreigners are not eligilble to buy until after the 10th year.

My sister bought the EC called Woodsvale in woodlands at $590K. last year she sold it off for around $680. think the place is about 8 or 9 years old.

i think this amount she made not bad leh for the location.

[Warrior88 0]

HDB told me that there is no restriction of MOP after the 1st 5 years. Meaning if I am the 2nd owner of an EC purchased at the 6th year, I do not need to stay till the 10th year (from TOP) before I can sell. He said, once after 1st 5 years, it is considered as private although foreigners are not eligilble to buy until after the 10th year.

Sounds correct. Maybe HDB should name it as PHOR="private housing with ownership restrictions" during the 6 ~ 10 years. After which FPH="Fully privatized Housing"

[paperZ 0]

My sister bought the EC called Woodsvale in woodlands at $590K. last year she sold it off for around $680. think the place is about 8 or 9 years old.

i think this amount she made not bad leh for the location.

Those 1st time owners of Bishan Loft EC are making huge profit if they are selling theirs. The asking price is ~$800+psf now.

[paperZ 0]

Sounds correct. Maybe HDB should name it as PHOR="private housing with ownership restrictions" during the 6 ~ 10 years. After which FPH="Fully privatized Housing"

Haha