CPF Housing Grant

Applicant can apply for CPF Housing Grants for the purchase of Executive Condominium (EC) from developers.

Monthly Household IncomeSC/SC HouseholdSC/SPR HoueholdHalf Housing Grant*
$10,000 or lower$30,000$20,000$15,000**
$10,001-$11,000$20,000$10,000$10,000**
$11,001-$12,000$10,000Nil$5,000**
$12,001-$14,000NilNilNil

* applicants are a first-timer SC and your co-applicant is a second-timer who has previously taken 1 housing subsidy.

** You can apply for the Citizen Top-Up when a qualifying member of your SC/ SPR household obtains Singapore citizenship. You need to submit your application to HDB within 6 months of being eligible for it.

Payment Scheme

There are 2 types of payment schemes available for purchasing an EC  directly from developer.

Normal Payment Scheme (NPS)

Normal Payment Scheme also known as Progressive Payment Scheme, allows you to service your loan progressively while the development is being built.

StagePayment (% of Purchase Price)
Grant of Option to Purchase (OTP)5%
Signing of Sales & Purchase Agreement or within 8 weeks from the Option date15%
Completion of Foundation work10%
Completion of reinforced concrete framework of unit10%
Completion of partition walls of unit5%
Completion of roofing/ceiling of unit5%
Completion of door sub-frames/door frames, window frames, electrical wiring, internal plastering, plumbing of unit5%
Completion of carpark, roads and drains serving the housing project5%
Notice of Vacant of Possession (TOP)25%
On Completion date15%

Deferred Payment Scheme (DPS)

Deferred Payment Scheme (DPS) allows buyer to service the loan after the EC Notice of Vacant of Possession (TOP). This allow home owner to better manage their finances as they do not need to service 2 housing loan (current HDB and EC) concurrently.

StagePayment (% of Purchase Price)
Grant of Option to Purchase (OTP)5%
Signing of Sales & Purchase Agreement or within 8 weeks from the Option date15%
Notice of Vacant of Possession (TOP)65%
On Completion date15%

Resale Levy

Applicants who have previously bought a new flat from HDB, Design, Build and Sell Scheme (DBSS) flat or Executive Condominium (EC) from a developer, or received a CPF Housing Grant, will have to pay resale levy to purchase a unit in Piermont Grand EC.

The resale levy is to maintain a fair allocation of public housing subsidies between first-timers and second-timers.

Resale Levy : first subsidised flat sold on or after 3rd March 2006

First Subsidised Housing TypeResale Levy Amount (Household)Resale Levy Amount (Single Grant Recipients)
2-room flat$15,000$7,500
3-room flat$30,000$15,000
4-room flat$40,000$20,000
5-room flat$45,000$22,500
Executive flat$50,000$25,000
Executive Condominium$55,000Not applicable

Resale Levy : first subsidised flat sold before 3rd March 2006

First Subsidised Housing TypeResale Levy Amount (Household)Resale Levy Amount (Single Grant Recipients)
2-room flat10%* or 15%5%* or 7.5%
3-room flat20%10%
4-room flat22.5%11.25%
5-room and Executive25%12.5%

* Only applicable to 2-room flat sellers who upgrade to a larger flat type.

** Resale Levy % is based on resale price of the sold flat, or 90% of its market valuation, whichever was higher

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