The Government will implement three measures for Executive Condominium (EC) developments to bring the terms for ECs closer to that for public housing, and help support a stable and sustainable EC market. Summary as below:
I. Reduce EC Cancellation Fees
From 20% to 5% of the purchase price.
II. Resale Levy for Second-Timer Applicants
The new requirement will be applied to EC land sales which are launched on or after 9 Dec 2013, including those where the tenders have not closed.
III. Revision of Mortgage Loan Terms
The 30% Mortgage Servicing Ratio (MSR) cap will apply to EC purchases where the Option to Purchase is granted on or after 10 Dec 2013
Ever wonder what's the implications on DBSS flat purchase?? If YOU are a 2nd Timer purchaser and still hope to stay in a brand new flat, buying a DBSS would be the ONLY housing option that you don't need to pay any resale levy and the unit is already partially furnished with flooring, kitchen cabinets, wardrobes, aircon etc. You don't even need to spend much on renovation!
Only Last few DBSS projects available... Trivelis is one of them! Do not miss - units are selling! For the latest units availability, do feel free to call 9878 1591 for enquiries!
I. Reduce EC Cancellation Fees
From 20% to 5% of the purchase price.
II. Resale Levy for Second-Timer Applicants
The new requirement will be applied to EC land sales which are launched on or after 9 Dec 2013, including those where the tenders have not closed.
III. Revision of Mortgage Loan Terms
The 30% Mortgage Servicing Ratio (MSR) cap will apply to EC purchases where the Option to Purchase is granted on or after 10 Dec 2013
Ever wonder what's the implications on DBSS flat purchase?? If YOU are a 2nd Timer purchaser and still hope to stay in a brand new flat, buying a DBSS would be the ONLY housing option that you don't need to pay any resale levy and the unit is already partially furnished with flooring, kitchen cabinets, wardrobes, aircon etc. You don't even need to spend much on renovation!
Only Last few DBSS projects available... Trivelis is one of them! Do not miss - units are selling! For the latest units availability, do feel free to call 9878 1591 for enquiries!
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