Your Guide to Buying an Executive Condo in Singapore

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Executive Condominiums (EC)

What it is:

Executive Condominiums (ECs) were designed as a bridge between public and private housing — a hybrid model meant for Singaporeans who want condo-style living without the high prices of private condominiums. They are developed by private developers but come with HDB rules in the first 5–10 years, creating a more affordable entry into the private property market.

In recent years, ECs have seen strong demand due to rising private condo prices and shrinking affordability. Several insights from market reports show why ECs remain one of the most resilient segments in Singapore’s housing landscape. For example, DBS notes that ECs often launch 20–25% below private condo prices due to income ceilings and stricter affordability rules, making them attractive for upgraders.

2024–2025 EC launches saw strong take-up rates, with projects like Lumina Grand selling more than half its units on launch weekend.

What Makes ECs Appealing?

1. Lower Entry Price Compared to Private Condos

Across multiple analyses, ECs are consistently priced below comparable private condos — often by 20–30% at launch. DBS notes that suburban private condos have crossed new benchmarks of over $2,000 psf, while ECs typically remain significantly more affordable, drawing strong interest from eligible buyers

New EC launches averages around $1,300–$1,700 psf in 2025, a clear price gap compared to private condos in similar locations

2. CPF Housing Grants Available

Eligible first-timer households may receive CPF grants of up to $30,000, something private condo buyers do not enjoy. This further lowers the effective purchase cost.

3. Potential for Capital Appreciation

A consistent theme across your references: ECs tend to appreciate well after they hit the 10-year mark, when they become fully privatised. DBS highlights the narrowing price gap between resale ECs and OCR private condos as ECs mature, with many units purchased in 2015–2016 at $800–850 psf now transacting around $1,300 psf (a 50–60% increase).

4. Full Access to Condo Facilities

Although subsidised at launch, ECs are built by private developers and come with pools, gyms, function rooms, landscaping, and security — often matching private condos in quality.

5. Designed for Genuine Homeowners

Rules such as the 5-year MOP (Minimum Occupation Period) ensure that EC buyers are primarily owner-occupiers, creating a more stable community.

Eligibility: Who Can Buy an EC?

Buyers must meet HDB’s eligibility framework. Here’s a clear summary drawn from the documents:

Basic Requirements

  • At least one Singapore Citizen; the other applicant may be SC or PR

  • Apply under one of the HDB schemes:

    • Public Scheme

    • Fiancé/Fiancée Scheme

    • Orphans Scheme

    • Joint Singles Scheme (minimum age 35; two Singapore Citizens)

  • Household income ≤ $16,000 per month

  • Must not own or have disposed of any private property (local or overseas) in the last 30 months

  • Must not have bought more than one HDB/DBSS/EC or taken more than one CPF housing grant before

If you already owned a HDB flat, you can apply for an EC while still owning an HDB, but you must sell your flat within 6 months of collecting your EC keys since new ECs are treated as subsidised housing for the first 10 years

Financing an EC

1. Bank Loan Only

ECs cannot be financed with an HDB loan — only bank loans are allowed.
This means:

  • Minimum 25% down payment (5% cash + 20% CPF/cash)

  • Must meet MSR (30%) and TDSR (55%)

  • Stamp duties apply (BSD, ABSD if applicable)

2. Grants & Levies

CPF grants reduce the upfront cost, but note if you previously bought subsidised housing, a resale levy may apply.

3. Budgeting for Other Fees

  • Legal fees (approx. $2,000)

  • Valuation fees (approx. $200)

  • Stamp duties at the prevailing rates
    (DBS outlines these typical buyer costs in their EC guide)

EC Payment Schemes

Normal Payment Scheme (NPS)

Also, known as the Progressive Payment Scheme is where payments are made progressively based on construction milestones.

Deferred Payment Scheme (DPS)

  • Pay 20% upfront

  • Pay remaining 80% only upon TOP

  • Usually costs 2–3% more than NPS according to DBS, meaning higher overall purchase cost for convenience

NPS is generally more cost-effective unless you require short-term cash-flow flexibility.

Restrictions You Must Know

Minimum Occupation Period (MOP) – 5 Years

You must live in the EC for the first 5 years before renting out the whole unit or selling it.

Restricted Resale from Year 6 to Year 10

From year 6–10, ECs can be resold only to Singapore Citizens and PRs.

Fully Privatised at Year 10

After 10 years, ECs can be sold to foreigners like any private condominium

Pros & Cons at a Glance

Pros

  • Lower prices than private condos (20–30% cheaper)

  • Eligible for CPF housing grants

  • High potential for capital appreciation post-privatisation

  • Full condo facilities and private developer quality

  • Ideal for HDB upgraders with growing families

Cons

  • Must meet HDB eligibility rules

  • Cannot rent out or sell freely during MOP

  • Resale restrictions for first 10 years

  • Locations tend to be in emerging towns

  • Bank loan only; must meet MSR & TDSR

Is an EC Right For You?

You may be a good fit for an EC if you:

  • Want condo-style living with a lower entry price

  • Are upgrading from an HDB and want more space

  • Prefer to pay progressively while the project is being built

  • Are comfortable with a 5-year MOP

  • Want potential long-term capital growth

But if you need full rental flexibility, prefer central locations, and want to avoid MOP or eligibility checks, then a private condo may be more suitable. 

Featured Executive Condo:

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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)

Eligibility is the first checkpoint for every EC buyer. You qualify if you meet all of the following:

  • Household income does not exceed $16,000

  • At least one applicant is a Singapore Citizen

  • Apply under a valid HDB scheme: Public Scheme, Fiancé/Fiancée, Orphans, or Joint Singles (age 35+)

  • You have not bought more than one subsidised property before or taken more than one CPF grant

  • You have not owned or sold any private property in the past 30 months

Message us here and we can check your eligibility in a few minutes.

It depends on your status:

If your HDB has not reached MOP:

  • You cannot apply for a new EC yet.

If your HDB has reached MOP:

  • You can apply for an EC.

  • You must sell your HDB within 6 months of receiving your EC keys.

Here are the standard upfront costs:

  • 5% cash

  • 20% CPF or cash

  • Buyer’s Stamp Duty

  • Legal and valuation fees

Additional costs depending on your situation:

  • Resale levy (if you previously bought subsidised housing)

  • ABSD (in certain family arrangements)

Yes. EC buyers may qualify for:

  • CPF Family Grant (up to $30,000)

  • Half-Housing Grant (if one applicant previously used a grant)

These grants can significantly reduce your total downpayment.

It depends on your priorities.

ECs are suitable if you want:

  • Lower entry price

  • Grants

  • Good long-term appreciation after privatisation

  • Larger layouts in suburban areas

  • A community of genuine homeowners

Private condos are suitable if you want:

  • No MOP

  • Fully flexible renting or selling rules

  • Central or mature locations

  • No eligibility checks or income ceiling

  • For the first 5 years: You must live in the EC and cannot rent out the entire unit.

  • Years 6 to 10: You may sell to Singapore Citizens and Permanent Residents only.

  • After 10 years: The EC becomes fully privatised and can be sold to foreigners.

This resale timeline is a key reason ECs often see strong long-term value.

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. 

Two options exist:

Normal Payment Scheme (NPS):

  • Pay progressively as the project is built

  • Usually the cheaper option

Deferred Payment Scheme (DPS):

  • Pay 20% upfront

  • Pay 80% at TOP

  • Typically costs more than NPS overall

For new ECs:

  • Only two single Singapore Citizens 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.

Future ECs typically come from awarded GLS (Government Land Sale) sites.
These indicate:

  • Future EC locations

  • Estimated pricing

  • Expected launch dates

  • Indicative supply

Refer to the “Awarded Land Sale” section for the upcoming ECs.

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

Historical patterns show:

  • ECs tend to appreciate strongly after the 10-year mark

  • Entry prices are lower, which limits downside risk

  • Demand from upgraders supports resale value

  • Expanded buyer pool after privatisation increases attractiveness

While no future prices can be guaranteed, ECs often show favourable long-term performance, particularly in suburban estates. Contact us to check your eligibility to buy a new EC today.