Piermont Grand

Luxury Executive Condominium Register E-App

EC Eligibility Conditions

To purchase a new Executive Condominium (EC) from a developer, you must meet the Piermont Grand EC eligibility conditions.
In essence, before you submit an application, do learn what Piermont Grand EC eligibility conditions apply and find out if you must pay a resale levy.

 

Piermont Grand EC Eligibility Conditions

Citizenship

  • You must be a Singapore Citizen.
  • Your family nucleus must comprise of at least another Singapore Citizen or Singapore Permanent Resident.

Age

  • You must be at least 21 years old at the time of application.
  • If you are buying an Executive Condominium (EC) under the Joint Single Scheme, you must be at least 35 years old.

Family Necleus

# In general, you can consider Dual-Key EC units offered by Developer if you form a multi-generation family as follows:

  1. Married couple with parents/grandparents
  2. Fiance and fiancee couple with parents/grandparents
  3. Widowed/Divorced with children and parents/grandparents

Income Ceiling

Your average gross monthly household income must not exceed $14,000. If your income exceeds $14,000, please contact our representatives.
We will assist and review your application on a case to case basis.

Special Requirements for Undischarged Bankrupts

Undischarged bankrupts will need to seek the Official Assignee (OA)’s consent if they are applying for an EC. However, if they are only to be listed as an occupier, they will not need to seek the OA’s approval.

 

Property Ownership

Ownership in Private Property

You, your spouse, any occupiers listed in the Application Form or their spouses must not own or
dispose or have an estate or interest in any other **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 the EC.

**Includes but not limited to properties:

  • owned/acquired/disposed through nominees regardless of properties location.
  • acquired by gift 
  • inherited as beneficiaries under a will or as a result of the Intestate Succession Act or 
  • Private Properties
  • HUDC flats (Privatised and non-privatised)

Owners/Ex-owners of HDB Flats/ DBSS Flats/ EC unit

Each eligible Singaporean household can buy the following housing unit only twice:

  • flat from HDB;
  • resale flat with CPF Housing Grant*;
  • DBSS flat from developer;
  • an EC unit from developer;
    *only applicable for first-timer applicants.

If you have already bought two housing units, you will not be eligible to apply or to be listed as an essential occupier in the EC application.
Contact our representatives to understand more.

Household Status

First-timer Applicants

You or the essential family members listed in the application for purchase of the EC must not:

  • Be the owners of a flat bought direct from HDB, a DBSS Flat or an Executive Condominium bought from the developer
  • Have sold a flat bought direct from HDB, a DBSS Flat or an Executive Condominium bought from the developer
  • Had received the CPF Housing Grant for the purchase of an HDB resale flat
  • Have taken other forms of housing subsidy (for example, benefitted under the Selective En Bloc Redevelopment Scheme, privatisation of HUDC estate etc)

Higher Quota of EC Supply for First-timer Applicants during initial launch period. 
70% of the supply will be reserved for First-timers during the initial launch period.

Second-timer Applicants

You, or the essential family members listed in your application have owned/sold or are currently owners of:

  • Any HDB flat that was bought from HDB or
  • Any resale HDB 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 (for example, enjoyed benefits under the Selective En Bloc Redevelopment Scheme, privatisation of HUDC estate etc)

Payment of Resale Levy
Second-timers who apply for an EC will have to pay a resale levy. Find out more on Resale Levy.

Time Bar

MOP Requirements

Before you can apply for a new EC, you may need to wait out a set time period for some instances.
More common scenarios includes when someone:

  • Has not met the Minimium Occupation Period (MOP) of their current flat/ EC Unit
  • Is a divorcee
  • Has previously canceled a flat application, or chose not to book a flat twice.

Before applying for a new EC, you will need to check if you or any of the other applicant(s)/ essential occupier(s) to be listed in the EC application owns any of the following:

Essential Occupier

You, or any person listed in the application must not be currently 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, an essential occupier may apply or be included in an application only if he has stayed in the existing flat for 5 years from the *date of taking possession of the existing flat to the date of application for the EC.

*Date of taking possession refers to the date of:

  • key collection, for flats that are bought directly from HDB
  • resale completion, for purchase of resale flats from the open market bought with the CPF Housing Grant
  • transfer at market value of the flat bought with CPF Housing Grant
  • key collection for Executive Condominium/ DBSS flats bought from the developer, whichever is applicable.

Divorcees

The 3 years wait-out period will not apply when Option-to-Purchase (OTP) is granted on or after 06 March 2018

Time Bar – Others

Ex-Owner of an Executive Condominium (EC)

Are you, your spouse or any of the essential occupiers listed in the EC application, an ex-owner of an Executive Condominium bought directly from the developer?
If Yes, you will need to meet a 5 years period (MOP) from the date of taking possession of the earlier Executive Condominium.

30 Months Period

In addition, you will need to wait out another 30 months period from the effective date of disposal (i.e. date of legal completion of the sale of the Executive Condominium, evidenced by the Notice of Transfer or other documentary proof as HDB may require) before you can apply to purchase another Executive Condominium directly from the Developer.

Bought an EC/DBSS Flat with CPF Housing Grant

A person who bought an EC or DBSS flat with CPF Housing Grant and terminated the Sale and Purchase Agreement may apply to buy an 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 date for an EC.

Cancellation of Application After Booking a Flat

If you booked a flat from March 2012, BTO or SBF exercises onwards and in that case cancel the booking, you will have to meet a 1 year period from the date of cancellation before you can apply or be included as an essential occupier in an application for an EC.

Credits: HDB

For Show Flat Appointments or Booking Enquiries, leave your details via the contact form and we will be in touch with you shortly. 


Indicate Your Interest and:

  • Be the first to get the Latest Updates on Piermont Grand EC
  • Get assistance with submission of E-App for Piermont Grand
  • Be entitled to Direct Developer's Prices & Discounts
  • Get advice on managing your property portfolio & learn about financial options for your new property.

error: