Executive Condominium (EC) Launches

Executive condominium (EC) is a hybrid residential property. It is basically a condominium, where buyers must adhere to certain regulations from the Housing & Development Board (HDB) before the EC is fully privatized 10 years after it is completed.

EC is built and sold directly by private developers on land parcels sold by the government. Since 1997, the government sold land parcels for EC projects through competitive land tenders. Homebuyers who enjoy the exclusiveness of a gated community with the convenience of condominium facilities can choose to buy Executive Condominiums, which come with more affordable price tags, compared to other types of private residential properties. Benefits of Executive Condominium

Despite the restrictions imposed on homebuyers, there are certain benefits that make EC an attractive property type for homebuyers, especially first-time homebuyers. Firstly, the prices of EC are lower than private condominiums. Secondly, the EC buyer could enjoy the comfort and prestige of living in a condominium. Thirdly, when the EC owner sell their unit in the future, there is a high likelihood that they can enjoy a capital gain as the EC is progressively privatized. In addition, the Deferred Payment Scheme is available as one of the financing options for new ECs. Under this scheme, buyers only need to put down 20% of the property price as the down-payment and pay the rest of the amount when they receive the keys to their units.

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Main 3 Points in Summary

1. Executive Condomiums (ECs) Have Good Price Appreciation - Physically Indistinguishable From Condominiums But Priced 15% to 20% Lower.

2. Capitalise on your Citizenship Privileged Status - Singapore Citizens Enjoy Family Grant of up to $30,000

3. Ideal Starting Point For Your Asset Progression Path- ECs Have More Affordable Entry Price Thus Can Buy Bigger Unit.