HDB Eligibility Guide for the Brown Stone EC Launch
The Brown Stone is an executive condominium, for which you need to meet HDB’s eligibility criteria to apply for a unit at this EC. If you need assistance to assess your eligibility, please send your query via the Contact Form.
Source: HDB web site (www.hdb.gov.sg)
- Main applicant must be a Singapore Citizen
- Application must include at least one other Singapore Citizen or Permanent Resident.
- All applicants must be at least 21 years old at time of application of the Brown Stone EC launch
- If applying under the Joint Singles Scheme, both must be at least 35 years old
You must form a family nucleus under one of the schemes listed here:
- 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 are widowed or divorced)
- Fiance/Fiancee Scheme
You (the applicant) and your fiancee/fiance
- Orphan Scheme
You (the applicant) and;
* Your unmarried brothers/sisters, or
* Another unrelated single orphan
- Joint Singles Scheme
You (the applicant) and another single person
- Your total monthly household income must not exceed SGD$14,000
Special Requirement for Undischarged Bankrupts
Undischarged bankrupts must seek the Official Assignee (OA)’s consent to apply for the new Ola EC launch. However, they do not need to seek the OA’s approval to be listed as an occupier.
Ownership of Private Property
You, your spouse, & any occupiers in this application, and their spouses, must not own or have disposed of, or have any part or share in any other private 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 this EC.
Owners/Ex-owners of HDB flats / DBSS flats / EC units
Each Singaporean household is allowed to buy the following housing types only twice:
* a flat directly from HDB;
* a resale flat with the CPF Housing Grant (only applicable to 1st timers);
* a DBSS flat from a developer;
* an EC apartment from a developer.
If you’ve already bought two such apartments, you cannot apply for, or be listed as an essential occupier in an application to buy a unit at the Ola showflat launch.
Definition of First-timer Applicants
You and any essential family members listed in your application for the Ola EC launch, have NEVER:
* Bought a flat directly from HDB, or a DBSS flat or Executive Condo from developer
* Sold a flat bought directly from HDB, or DBSS flat or EC bought from developer
* Received the CPF Housing Grant for the purchase of an HDB resale flat
* Enjoyed other forms of housing subsidy (eg. SERS, privatisation of HUDC estate, etc)
70% of units will be set aside for first-timers during the initial period of the Brown Stone EC launch.
Definition of Second-timer Applicants
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 at the Ola EC launch are required to pay a Resale Levy. For resale levy details, see this page (opens in new window).
Existing Owner or Ex-Owner Of
* Flat bought directly from HDB
* DBSS flat bought from developer
* Resale flat bought under the CPF Housing Grant Scheme
If you belong to any of the above categories, you may apply to buy a unit at the Brown Stone EC launch 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 previous flat to date of application for the 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 wait at least 5 years from the date of taking possession of the earlier Executive Condominium before applying for this EC.
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 that EC before you can apply to buy a unit at the Ola EC launch.
Any person applying to buy at the Brown Stone EC launch or be listed as an occupier must not currently be 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 the Ola EC launch.
Cancellation of Application After Booking a Flat
If you book a flat from the March 2012 BTO and Sale of Balance Flats exercises onwards, and subsequently cancel the flat booking, you will have to wait 1 year from the date of cancellation before you can apply or be included as an essential occupier in the Brown Stone EC launch application.
Within 3 years from the date of a divorce, only one party in the divorce can own one of the following housing units:
- Flat bought directly from the HDB
- DBSS flat / EC bought directly from a private developer
- Resale flat bought from open market under the CPF Housing Grant Scheme
If there is an existing matrimonial home which is one of the above, and that home is retained by your ex-spouse, you may apply to buy or be listed as an essential occupier in the Brown Stone EC launch only 3 years after your date of divorce.
However, this 3-year wait out period will not apply if you are buying this new EC with your parents or a new spouse.
If there is no matrimonial home or the matrimonial home was bought from the open market without any CPF Housing Grant, you may apply for a unit at the Ola showflat preview after you obtain your ex-spouse’s consent not to own or be listed as an essential occupier in any of the above housing types within the 3-year period from the date of divorce.
The requirement for ex-spouse’s consent is waived if you are buying the Ola EC with your parents or a new spouse or if you are buying a resale flat from the open market without the CPF Housing Grant.
The requirement to seek ex-spouse’s consent during the 3-year period from the date of divorce is also waived if you meet the following conditions:
- All your children are below 18 years old at the date of divorce; and
- You have the legal custody of all your children and are also the only parent with the care and control of all your children
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 but terminated the Sale & Purchase Agreement may apply to buy a unit at this new EC.
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 at the Brown Stone EC launch.
ARENA RESIDENCE LAUNCH
If you are looking for a good investment property, you might want to consider a new freehold condo launch on the city fringe, in the Guillemard Road area. This project is called Arena Residence, and is being developed by Roxy-Pacific Holdings.
The location of this project is good. It is within 6 minutes walk to Mountbatten MRT station on the Circle Line that takes you to the Marina Bay financial district, and to Doby Ghaut in Orchard Road. This neighbourhood is actually very close to the CBD and the heart of town, around 10 minutes drive off-peak.
Arena Residence is also on the edge of Geylang. While this might put some buyers off, it is actually good, as you are getting a bargain price for a freehold property so close to the city centre. In fact, Geylang enjoys some of the highest rental yields, as many tenants don’t mind this area. It is actually quite safe, and has some of the best supper places and a bustling night scene.
There are only 98 units at Arena Residence, with a lot of interest from potential buyers. Like Brownstone EC, it could likely sell out very quickly, even though they are both very different products. Pricing is expected to be in the $1,750 to $1,800 PSF range.
The units here range from 2 bedders to 3 bedders, to 3 bedroom dual key units, that ought to attract investors looking for higher yields. No one bedders though. For a freehold project, Arena Residence is bigger than the norm, so it can support more communal facilities, including a sky terrace with a lap pool, gym and entertainment area than most freehold projects in this area. The Arena Residence showflat will open for viewing soon, at end October. Actual booking date will be in early November.