New ECs are new launches, while by “MOP EC” we refer to ECs that have crossed the five-year mark. A privatised EC is one that has crossed 10 years in age.
These are differences between them:
|New EC||MOP EC||Privatised|
|HDB eligibility requirements||Yes, must meet usual requirements||Yes, but fewer restrictions||No, considered private and not HDB|
|Housing grants||Yes ||No||No|
|Minimum Occupancy Period (MOP)||Five-year MOP applies ||No ||No|
|Can sell to foreigners or entities||No||No||Yes|
|Mortgage Servicing Ratio (MSR) applies||Yes||No||No|
|Total Debt Servicing Ratio (TDSR) applies||Yes (you need to meet both the MSR and TDSR)||Yes||Yes|
Note that in all of the above cases, you have to use a bank loan. There’s no HDB loan for ECs.