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The Executive Condo Resale Levy A Guide for Buyers and Sellers

The ECRL is a complex government-imposed levy that can have a significant impact on the price of an EC. Buyers and sellers of ECs should be aware of the ECRL and its implications before they buy or sell an EC. If you are looking to buy or sell an EC in Singapore? You have come to the right place. SELL Home Is the best Selling agents in Singapore. Contact us for more information....<br><br>

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The Executive Condo Resale Levy A Guide for Buyers and Sellers

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  1. The Executive Condo Resale Levy: A Guide for Buyers and Sellers

  2. The Executive Condo Resale Levy (ECRL) is a government-imposed levy that is payable by buyers and sellers of executive condominiums (ECs) in Singapore. The levy is designed to ensure that the benefits of public housing subsidies are shared fairly between first-time buyers and second-time buyers.

  3. Who is liable to pay the ECRL? The ECRL is payable by the buyer of an EC if: The buyer has previously owned a subsidised flat, such as an HDB flat or an EC. The buyer is buying the EC from a seller who has previously owned a subsidised flat. How is the ECRL calculated? The ECRL is calculated based on the following factors: The resale price of the EC. The market value of the EC. The type of subsidised flat that the buyer or seller previously owned. The ECRL is capped at 20% of the resale price of the EC.

  4. What are the exemptions from the ECRL? There are a few exemptions from the ECRL, including: If the buyer is a first-time buyer of an EC. If the buyer is buying the EC from a seller who is also a first-time buyer of an EC. If the buyer is buying the EC from a seller who is a Singaporean citizen who is aged 55 years or above and has been a Singapore citizen for at least 30 years. What are the implications of the ECRL for buyers and sellers of ECs?

  5. The ECRL can have a significant impact on the price of an EC. For example, if the resale price of an EC is \$1 million and the ECRL is 20%, the buyer will need to pay \$200,000 in ECRL. This will reduce the amount of money that the buyer has available to pay for the EC, which could lead to a lower purchase price. The ECRL can also have an impact on the seller of an EC. If the seller has previously owned a subsidised flat, they will need to pay the ECRL to the buyer. This could reduce the amount of money that the seller receives from the sale of the EC. Conclusion The ECRL is a complex government-imposed levy that can have a significant impact on the price of an EC. Buyers and sellers of ECs should be aware of the ECRL and its implications before they buy or sell an EC. If you are looking to buy or sell an EC in Singapore? You have come to the right place. SELL Home Is the best Selling agents in Singapore. Contact us for more information....

  6. CONTACT US 450 Lor 6 Toa Payoh, ERA APAC Centre, Singapore, 319394 +65 9021 8889 sellhomes@gmail.com www.sellhome.sg

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