LONGER MOP
With the new measures, buyers of new ECs will need to fulfil the 10-year MOP before they can rent out their whole unit, purchase another residential property or sell their unit to Singaporeans and permanent residents.
ECs will be fully privatised after 15 years, up from the current 10. After the 15th year, it can be sold to any buyer.
Mr Fong said the extended MOP is key for prospective buyers who had planned to buy and resell their EC units after reaching the five-year MOP.
However, it is unlikely to deter genuine owner-occupiers who intend to live in the unit for an extensive period of time.
Mr Fong said the change aligns with the public housing framework, where Housing and Development Board (HDB) flats under the Prime and Plus models are also subject to longer MOPs.
