Your Gateway to Executive Condominiums

Discover the allure of Singapore's executive condominiums, known for their blend of affordability and luxury. Learn about eligibility requirements for a seamless purchasing experience.

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Completed ECs

ECs in the market

Executive Condominium (EC) are strata-titled apartments which are built and sold by property developers to eligible Singaporean households. There are eligibility conditions and ownership restrictions in the first 5 years.

Why choose Executive Condominiums?

So here’s the main question… Why are new ECs considered a “Sure-buy” for Singaporeans? Scroll down to know.

No ABSD

EC Purchasers (if they are currently HDB owners) do not need to go through the hassle of paying ABSD (20%) first and apply for remission.

No need immediate sale of current house

There is no immediate rush for EC buyers to sell their HDB flat after signing the EC OTP. They can stay in their current HDB home until the EC has TOP. They can sell within 6 months after the TOP of EC.

CPF Housing Grants

CPF Housing Grants can be used to offset cash outlay for first time buyers! Depending on the monthly Household Income and SC/SC or SC/SPR households, Grants could be as high as S$30,000!

Deferred Payment Scheme

You can choose to take the Deferred Payment Scheme (DPS) which only make the 5%+15% Down payment & the next property payment will be at the TOP of the EC. No progressive payments needed to be made prior to TOP.

Entry Price of ECs

ECs are generally at 15% to 20% lower priced than comparable new launch Condos.

Bank Loan

If you are taking Bank Loan for your EC, you will not be affected by 2nd housing loan restrictions by the MAS, even if you have an outstanding mortgage loan for your current HDB. This means that you can potentially get a 75% LTV for your EC.

Do you qualify to buy an EC?

Do not own or disposed private properties in last 30 months

For an EC flat application, all the listed owners and essential occupiers must not own, dispose, or have an estate or interest in any other local or overseas property:

• Within 30 months before the date of the EC application, and up to the date of taking possession of the EC

The properties considered in this instance include but are not limited to:

• Privatised HUDC flats

• Properties acquired by gift

• Properties inherited as beneficiaries under a will or as a result of the Intestate Succession Act

• Private property

• Properties owned, acquired, or disposed through nominees, regardless of properties’ location

Cannot own more than 2 times subsidised flats

You only own/ owned 1 of the following units prior to your application:

• Flat bought from HDB

• EC/ DBSS flat bought from the developer

• HDB resale flat bought using a CPF Housing Grant (only applies to first-timer applicants)

In essence, an eligible Singapore Citizen is allowed to buy the above properties twice in total, not twice per type of property.

If you have already bought 2 such properties, you will not be eligible to apply for an EC or be listed as an essential occupier in an application.

Gross Monthly Household income

Your average gross monthly household income must not exceed $16,000.

Minimum Occupation Period (MOP)

If your current flat has not met the Minimum Occupation Period (MOP) of a current flat/ EC unit or you have previously cancelled a flat application, you are not able to apply for an EC.

Family Nucleus

1) Public Scheme

You form a family nucleus with any of the following:

• Spouse, and children (if any)

• Parents, and siblings (if any)

• Children under your legal custody, care and control (if widowed/divorced#)

#If the care and control of your children under the age of 21 is shared with your ex-spouse, you must obtain his/her written agreement before you can list your children in a flat application.

2) Fiancé/Fiancée Scheme

You form a family nucleus with your spouse-to-be. Under this scheme, you need to solemnise your marriage and submit a photocopy of your marriage certificate to the developer within 3 months* of collecting your keys to the EC unit.

*Applicable for Option To Purchase granted by property developer on or after 1 May 2018

3) Orphans Scheme

4) Joint Singles Scheme

Video Gallery

Explore our collection of executive condominium video sections today!

“It's really a wonderful scheme.. It protects the middle income Singaporeans from competition and ensuring a very market friendly way of allowing them to buy condominiums at very affordable prices… If I may give an analogy is like offering your Lexus at Corolla price but only Singaporeans have this privilege for doing so and in order in due course the price will go up to Lexus and above Lexus level…”

Minister Khaw Boon Wan, Jan 2013

★★★★★

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