Executive Condo EC

Executive Condo EC

Executive Condo EC

What Exactly is an Executive Condo (EC) in Singapore?

An Executive Condominium (EC) is a hybrid between a private property and a HDB flat, and it comes with ownership and resale restrictions. During the 6th to 10th year after completion, units can only be sold to Singaporeans or PRs without family nucleus requirements (Partially Privatised). After 10 years, all restrictions are lifted (Privatised).

So you may wonder, if an NEW Executive Condo (EC) launch will be popular among Singaporeans? Definite yes and it is only for the PRIVILEGED and very popular amongst HDB upgraders. Not only they do not need to pay ABSD when they purchase a brand-new Executive Condo (EC), it is also more affordable for Singaporeans to enter the private housing market.

“Buying an EC is like buying a Lexus at the price of a Corolla.”
— former National Development Minister Khaw Boon Wan (2013)


Executive Condo EC

Who can buy? Check your eligibility for condo ownership. This includes factors like citizenship, income, and property ownership history.

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Executive Condo EC

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Upcoming EC

Executive Condo EC

Own your dream condo at an attractive price! Limited EC units launching soon in Singapore. Register now for priority access.

Executive Condo EC in Singapore

For aspiring homeowners in Singapore, navigating the property market can be tricky. Budget constraints often push them towards HDB flats, while private condominiums seem like a distant dream. But what if there was a middle ground – a haven that offered the affordability of public housing with the aesthetics and amenities of a private condo? Enter the Executive Condominium (EC), a unique housing option designed specifically for middle-income Singaporeans.

EC: Decoded – Understanding the Hybrid

An EC is a hybrid housing concept developed by the Housing & Development Board (HDB) to bridge the gap between public and private housing. Built and sold by private developers, ECs boast features akin to private condominiums – modern designs, swanky facilities like swimming pools and gyms, and a sense of exclusivity. However, during the initial 10 years, ECs are classified as HDB property, subject to stricter eligibility criteria and ownership restrictions.

Eligibility: Not for Everyone, But for Many

To qualify for an EC, applicants must be Singapore Citizen families or couples with a combined monthly income ceiling of S$16,000. Additionally, they cannot own any other private property at the time of application (with some exceptions for upcoming launches). This ensures ECs cater to a specific segment – the “sandwich class” – those who earn too much to qualify for subsidised HDB flats but might find private condos a financial stretch.

Owning an EC: The Initial 10 Years and Beyond

After a successful application, buyers enjoy the benefits of their EC for the initial 10 years. During this period, they are subject to a Minimum Occupancy Period (MOP) of 5 years, similar to HDB flats. This MOP restricts them from selling the unit before the stipulated time. Additionally, they can only sell their EC to other eligible Singapore Citizen families or couples.

The Transformation: From HDB to Private Property

The true magic of an EC unfolds after 10 years. Upon reaching its tenth anniversary, the EC classification is lifted, and it is privatized. This means it transforms into a regular condominium, allowing ownership by foreigners, companies, and others. This privatization also unlocks the potential for higher resale value, making ECs an attractive long-term investment.

ECs vs Private Condominiums: Striking the Balance

So, how do ECs compare to private condominiums? The biggest advantage of ECs lies in their price. Generally, ECs are priced 20-30% lower than similar private condos in the same location. This affordability makes them a lucrative option for many middle-income families. However, the initial restrictions and 10-year wait for full privatization are factors to consider.

ECs: Ideal for Whom?

ECs are a perfect fit for several demographics:

  • Young Couples/Families: Starting families seeking a comfortable and modern living space with good amenities at a competitive price will find ECs appealing.
  • HDB Upgraders: Those looking to upgrade from their HDB flat but might not be ready for the full commitment of a private condo can find ECs a stepping stone.
  • Investors with a Long-Term Vision: ECs offer the potential for capital appreciation after privatization, making them attractive for long-term property investors.

Before You Dive In: Considerations for Potential Buyers

While ECs offer a compelling proposition, there are crucial factors to consider before taking the plunge:

  • Eligibility: Ensure you meet the income ceiling and ownership restrictions.
  • Financial Planning: Factor in the initial restrictions, MOP, and potential resale plans.
  • Location and Project: Research the specific EC project, its location, amenities, and developer reputation.
  • Exit Strategy: Decide if you plan to hold the EC for the long term or sell after privatization.

ECs: A Promising Option in Singapore’s Property Landscape

Executive Condominiums offer a unique solution for aspiring homeowners in Singapore. By combining affordability with modern amenities and the potential for future growth, ECs cater to a significant segment of the population. So, if you’re a middle-income Singaporean citizen family or couple seeking a comfortable and strategic property investment, ECs are definitely worth exploring. Remember, thorough research and careful planning are key to making an informed decision that aligns with your long-term goals.

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Staying Updated on Your Dream EC

If you would like to receive the latest information for the above upcoming Executive Condo (EC) sites, please send us your enquiry below and we will contact you within the next working day!

What’s the Criteria for Getting a EC Executive Condominium in Singapore?

ECs come with eligibility requirements, including income ceilings and family nucleus restrictions. Ensure you meet these criteria before setting your heart on a particular EC.

So, are you ready to embark on your EC ownership journey? With careful planning and the right information, you can find your perfect home in Singapore’s upcoming EC launches!

Updated as of 05 March 2024

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“Are you thinking of upgrading to a Executive Condominium (EC) or wondering if you can afford a Executive Condominium (EC) as your next home?”