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Hi I have a few questions,

1. My wife is the essential occupier of an EC (not owner), is she also subject to the 5 years minimum occupation period before she could invest in private condo?

2. For the EC, I am the owner, my wife is essential occupier. We are not selling the EC.
Can she buy a resale HDB after 5 years MOP as a single applicant and me as an essential occupier (while I am still the owner of the EC) ?

3. Since we are not selling the EC, but want to get a second property, is investing in private condo a better option or buying a resale HDB for rental yield?
Assuming she has $ 350K-400K in CPF ordinary account.

Thanks.
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2 Answers

Ivan Ng
Replied
Hi,

1) Both of you are subject to MOP requirements, and have to physically occupy the EC for 5 years.

2) After 5 years, you all can consider the decoupling option, where she takes out her name (sale of share of ownership to you) from the EC. She can then look for other private properties under her sole name purchase, which will be considered as a 1st property purchase then, the stamp duties are lower and loan will be higher, but it will be based on her income only.

However, for HDB single singapore citizen scheme, you need to be unmarried and 35years old, so she cant buy resale hdb on her own. She must apply with you together, and if you all do so, you have to sell away your EC within 6 months of key collection to resale HDB.

The ideal scenario for you will be to seek a 2nd private residential or commercial property for investment. There are also private condo with strong rental yields and capital appreciation. Will be glad to share with you more, may I have the opportunity to speak to you?
Thanks.

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com Read More
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Tan Han Wei Leonard
Replied
Good Day to you,

I think the real estate agents have given you quite a good explanation.

Whether to go private or to purchase HDB also depends on your budget. Of course if budget is not a concern, you may want to consider a 1bedroom condominium.

May I know what are your requirements & priorities?

Feel free to contact me for further assistance.

Best Regards,

Tan Han Wei, Leonard
ERA Realty Network Pte Ltd
BSc Management (Hons) UOL
 9150 1162 
Leonardtanhw@gmail.com
www.leonardtan-property.com Read More
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