What is the EC income ceiling?

EC income ceiling

An income ceiling for buying an Executive Condominium (EC) in Singapore is a financial eligibility criterion imposed by the government to determine who is eligible to purchase an EC unit. Its primary objective is to ascertain the eligibility of individuals seeking to acquire an EC property, which is a form of housing in Singapore that is developed and sold by private developers but subject to certain restrictions and regulations set by the government.

These restrictions are designed to ensure that ECs remain affordable to a specific segment of the population. As such, an income ceiling is imposed on them by which the government sets a maximum allowable income level for households interested in purchasing EC units.

This income level is typically expressed as a monthly gross household income and is used as a threshold to determine eligibility.

Purchasing an EC presents an intriguing prospect, given its categorisation that sets it apart from Housing and Development Board (HDB) flats and private properties. While the prerequisites for new EC launches, including the stipulated income ceilings, bear resemblance to those of HDB Build-to-Order (BTO) units, distinctions emerge in terms of the specified income ceiling’s precise amount. 

EC income ceiling 2023

As of September 2023, the EC income ceiling is $16,000. This means that the combined income of the two co-owners should be equal to or less than $16,000 in order to be eligible to purchase a new EC unit. 

You can also read more about the other requirements for EC eligibility here.

Does EC income ceiling include bonus?

The EC Income Eligibility does not consider bonuses, including 13th month/AWS or performance bonuses, as well as income from overtime work. 

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What is the EC income ceiling? 5

Can I appeal for EC income ceiling?

Yes, if your joint income is slightly higher than the EC ceiling income, there is a chance that you can appeal for an exemption for your case. However, the rule of thumb for higher chance for your appeal to be approve is that your combined income should not exceed 10% of the income ceiling. 

How to appeal for EC income ceiling?

If your joint income exceeds the current EC income ceiling, you can write in to HDB to appeal for EC income ceiling. Do note that there is no guarantee that your appeal will be accepted.

If your appeal is rejected, you can look at resale ECs (which by then would have private property status) or any new launch condos that do not have any income ceiling requirements. 

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