Your Guide to Buying an Executive Condo in Singapore
Home – New Condos – Executive Condominiums
Introduction
Executive Condominiums, commonly known as ECs, sit in a space that doesn’t quite fit neatly into Singapore’s usual housing categories. They are not HDB flats, but they are also not fully private condominiums — at least not at the start. For many Singaporean households, ECs represent the most realistic way to move into a condo-style home without taking on the financial strain of private property prices.
At the same time, ECs come with rules, timelines and restrictions that don’t apply to private condos. These aren’t minor details. They affect when you can sell, who you can sell to, and how flexible your housing choices are over the next ten years.
This guide explains what Executive Condominiums are, why they exist, who they make sense for, and what you should realistically expect if you buy one — without hype, and without pretending ECs are right for everyone.
What exactly is an Executive Condominium?
Executive Condominiums were introduced in the mid-1990s to solve a very specific problem. A growing group of Singaporean households earned too much to qualify for new HDB flats, but not enough to comfortably buy private condominiums — especially as private home prices rose faster than incomes.
The EC model was created as a middle ground.
ECs are developed by private developers, not HDB. They look and function like private condominiums, with facilities such as swimming pools, gyms, security, and landscaped grounds. Layouts and finishes are typically comparable to mass-market private condos.
What makes ECs different is how they are regulated. At launch, buyers must meet HDB-style eligibility rules, including income ceilings and citizenship requirements. After purchase, owners must observe a Minimum Occupation Period and resale restrictions for the first ten years. These controls keep EC launch prices lower than private condos in similar locations.
In short, ECs offer condo living at a subsidised entry price, in exchange for reduced flexibility during the early years.
Before going any further, it’s important to be clear on eligibility. Executive Condominiums are not open to everyone, and many buyers only realise they are ineligible after spending time researching specific launches. Income ceilings, citizenship requirements, prior property ownership, and waiting periods all apply, and even small details can affect eligibility.
If you’re unsure where you stand, this Executive Condominium Eligibility Guide breaks down who can buy an EC, the common disqualifiers, and how eligibility is assessed in practice — before you spend time or money planning around a home you may not qualify for.
Why ECs remain popular even when markets slow
EC demand tends to be more stable than private condominiums, especially during uncertain market periods. This isn’t because ECs are immune to economic cycles — it’s because of who buys them.
Most EC buyers are owner-occupiers. The five-year Minimum Occupation Period removes short-term speculation from the equation. People buying ECs are usually planning to live in them, not flip them. That reduces panic selling when sentiment weakens.
There is also a built-in affordability filter. Because household income is capped, EC buyers are less likely to overstretch financially compared to buyers chasing prime private condos. This leads to steadier holding power, even when interest rates rise.
Over time, ECs tend to follow a fairly consistent pattern:
Gradual price stabilisation during construction and early occupation
Improved resale demand after the five-year mark when PRs can buy
Stronger price support approaching full privatisation at year ten
This doesn’t mean ECs outperform private condos in every cycle — but it does explain why they remain resilient even when broader markets slow.
Who Executive Condominiums are actually meant for
ECs are not a universal solution. They work very well for a specific group of households and poorly for others.
ECs tend to suit:
Singaporean families earning roughly $10,000–$16,000 per month
HDB upgraders who want condo facilities but need price discipline
First-time buyers who qualify for CPF housing grants
Households planning to stay put for at least five to seven years
Buyers comfortable with suburban or regional locations
ECs are less suitable if:
You may need to sell or relocate within five years
You prioritise central locations like Orchard, CBD or city fringe areas
You need full rental flexibility early on
Your income fluctuates close to or above the eligibility ceiling
The key is not whether ECs are “good value”, but whether the restrictions fit your life plans.
How ECs differ from private condominiums in practice
The biggest difference is flexibility.
Private condominiums allow immediate resale and full rental from day one. ECs do not. For the first five years, you must live in the unit and cannot rent out the entire home. From year six to ten, resale is allowed — but only to Singapore Citizens and Permanent Residents. Only after ten years does the EC become fully private.
Price is the trade-off. New ECs in 2025 typically launch at 20–30% lower psf than comparable private condos in similar regions. That gap translates into lower downpayments, lower monthly commitments, and less financial pressure.
Location also differs. ECs are almost always in the Outside Central Region — places like Tampines, Tengah, Sengkang or Bukit Batok. If living near the city is a priority, ECs won’t work. If space and affordability matter more, ECs often make sense.
Financing and grants: where ECs really help affordability
Although ECs feel like private condos, financing rules sit somewhere in between.
EC buyers must take bank loans, not HDB loans. Downpayment is 25% (5% cash, 20% CPF or cash), similar to private condos.
Where ECs differ is CPF housing grants. Eligible first-timer households can receive grants of up to $30,000, something private condo buyers don’t get. That grant directly reduces the effective purchase price and improves affordability.
Most EC buyers use the Progressive Payment Scheme, spreading payments over the construction period. This helps HDB upgraders manage cash flow while waiting to sell their existing flat closer to key collection.
The five-year MOP and what it really means
The Minimum Occupation Period is the most misunderstood part of EC ownership.
During the first five years after key collection:
You must live in the unit
You cannot sell the unit
You cannot rent out the entire unit
This rule exists to ensure ECs serve genuine housing needs, not speculation. But it also means buyers must be confident they can stay put. Job changes, overseas postings, or unexpected family shifts can become complicated.
From year six onward:
Full rental is allowed
Resale is allowed, but only to SCs and PRs
At year ten:
All restrictions lift
The EC becomes fully private
Many buyers underestimate how long ten years really is. If flexibility is important to you, this timeline matters.
Long-term value: what happens after privatisation
Once fully privatised, ECs behave much like private condominiums — but they don’t magically become luxury assets.
Their long-term performance depends on:
MRT connectivity
Surrounding amenities
Overall estate planning
Ongoing maintenance quality
Future supply in the same area
Well-located ECs near MRT stations tend to age well. Poorly connected ones struggle, especially when newer launches appear nearby.
ECs should be viewed as long-term own-stay homes first, with investment upside as a secondary benefit. Buyers who understand this tend to be happiest with their decision.
Pros and cons of buying an Executive Condominium at a glance
The biggest advantage of an EC is value at entry. You’re buying into a condo-style home with facilities, security, and a new-build layout, but typically at a noticeably lower price point than a comparable private condominium nearby. That lower entry cost usually means a more manageable downpayment, less pressure on monthly instalments, and more room to choose a larger unit size without stretching.
ECs can also be more “family practical” than many new private launches today. Because EC buyers are mostly owner-occupiers, developers tend to design for real living — full-sized bedrooms, usable kitchens, and facilities that work for daily routines, not just showflat aesthetics. If you qualify for CPF housing grants, that’s another real advantage private condo buyers don’t get.
The trade-off is flexibility. The five-year Minimum Occupation Period is not a small condition — it’s a commitment. You can’t sell, and you can’t rent out the whole unit in that period, even if life changes. After the five-year mark, resale opens up but remains restricted until year ten. That means your “exit options” are narrower than a private condo for a long stretch of time.
Another downside is location choice. ECs are almost always in OCR areas, so if you want city-fringe convenience, walk-to-everything living, or prime district positioning, ECs simply won’t meet that lifestyle. And because ECs are popular, the best stacks and most attractive unit types can move quickly during launch periods, which can push buyers into making decisions faster than they’re comfortable with.
A realistic conclusion
Executive Condominiums are not shortcuts to wealth, and they are not watered-down private condos either. They are a deliberate housing tool designed to help middle-income Singaporean families move into condo living without overextending financially.
If you qualify, can commit to the MOP, and value space and affordability over flexibility, ECs can be one of the most sensible housing choices available today.
If flexibility, centrality or short-term optionality matter more, private condominiums — or even staying in an HDB longer — may be the better decision.
The right choice isn’t about chasing what sounds smartest on paper. It’s about choosing a home that fits how you actually plan to live.
Featured Executive Condo:
Jump to:
Other Tools:
Do You Qualify For A New Executive Condo?
Verify your EC eligibility, income ceiling, grant amount, and financing options all in one place. Perfect for HDB upgraders planning their next move.
No pressure, no commitments — just straight answers tailored to your situation.
Your questions answered
Frequently Asked Questions (FAQ) for Executive Condo
How are ECs different from private condominiums?
While ECs look and function like private condominiums, the difference lies in eligibility and ownership rules. ECs are restricted to eligible Singaporean households at launch and during the first ten years. Private condominiums have no such restrictions and can be bought, sold, or rented freely from day one. ECs are therefore priced lower at launch to reflect these limitations, even though facilities, layouts, and build quality are comparable.
Who can buy an Executive Condominium?
At least one buyer must be a Singapore Citizen, and household income must not exceed the prevailing income ceiling at the time of application. Buyers must also meet ownership history requirements, including not owning or having recently disposed of private property. Because these rules are detailed and strict, buyers should always verify eligibility carefully before committing. A full breakdown is covered separately in our dedicated EC eligibility guide.
Alternatively, you can message us and we can check your eligibility in a few minutes.
Can I buy a new EC if I currently own an HDB flat?
Yes, many EC buyers are HDB upgraders. However MOP and other eligibility criteria apply.
If you pass the eligibility criteria, you may apply for an EC while still owning your HDB flat, but you must sell the HDB within six months of collecting the keys to your EC. This makes timing important, especially if construction is delayed or market conditions affect your HDB sale. Proper planning avoids unnecessary stress or penalties.
How much downpayment is required for an EC?
ECs follow private property financing rules. Buyers typically pay a 25% downpayment, with at least 5% in cash and the remainder using CPF or cash. Buyer’s Stamp Duty applies, and Additional Buyer’s Stamp Duty may apply depending on your ownership profile. Some first-time buyers may qualify for CPF housing grants, which can help reduce the effective purchase cost.
What loan rules apply? MSR, TDSR, HFE?
EC financing follows private loan rules:
Bank loan only
Minimum 25% downpayment (5% cash + 20% CPF/cash)
MSR cap of 30% of monthly income applies
TDSR cap of 55% also applies
HFE letter is not required before booking a unit
Drop us a message here to find out more about new EC financing.
Can ECs be rented out?
During the first five years after key collection, owners must occupy the unit and cannot rent out the entire apartment, although room rental is allowed. From the sixth year onward, whole-unit rental is permitted. Full flexibility, including sale to foreigners, only applies after the ten-year mark when the EC becomes fully privatised.
Are Executive Condominiums suitable for investment?
ECs tend to appeal more to long-term owner-occupiers than short-term investors. Their value proposition lies in lower entry prices and gradual appreciation over time, particularly around the ten-year privatisation milestone. While they may perform well over a longer holding period, ECs are not designed for quick turnover due to ownership restrictions in the early years.
How do EC payment schemes work (NPS vs DPS)?
Two options exist:
Normal Payment Scheme (NPS):
Pay progressively as the project is built
Purchase price is usually lower by 5% on average compared to deferred payment scheme
Deferred Payment Scheme (DPS):
Pay 20% upfront
Pay 80% at TOP
- Installment (if taking bank loan) kicks in only upon TOP
Typically costs 5% more on average than NPS overall
Can singles buy an EC?
For new ECs, only two single Singapore Citizens (“SC”) aged 35 and above may apply under the Joint Singles Scheme.
For resale ECs (5–10 years old) or fully privatised ECs (10+ years), a single SC may buy alone.
Is an EC better than buying a private condominium?
An EC makes sense for households that meet eligibility rules, plan to live in the home for several years, and want condominium facilities at a lower entry price. Private condominiums offer greater flexibility and broader location choices but at higher cost. The right option depends on income profile, timeline, location preference, and tolerance for ownership restrictions.
Should I buy an EC now or wait for the next launch?
You may consider buying now if:
Prices fit your budget
You want to secure a unit before demand increases
You value current locations over future uncertainties
You may consider waiting if:
You’re still serving MOP on your HDB
Your income or eligibility is changing soon
You want to compare upcoming sites first
Refer to our “Awarded Land Sale” section for the upcoming ECs.