Executive Condominium (EC) Singapore Guide: Eligibility, Price, and Buying Process
- Executive Condo Finder
- 4 days ago
- 4 min read
Executive Condominiums (ECs) are one of Singapore’s most popular housing options, especially for families who want the lifestyle of a private condominium at a more affordable price. With condo-style facilities such as swimming pools, gyms, and landscaped gardens, ECs provide exclusivity and comfort—yet they are priced lower than private condos because of government subsidies and restrictions.
In this comprehensive guide, we explain:
If you’re considering buying an Executive Condominium, here’s everything you need to know.
What Is an Executive Condominium (EC) in Singapore?
An Executive Condominium (EC) is a hybrid form of housing in Singapore. ECs are built and sold by private developers but regulated by the Housing & Development Board (HDB). They are designed to be a “middle ground” between public housing and private condos.
ECs start off with rules similar to HDB flats but become fully privatised after 10 years. This means they offer affordability upfront but eventually enjoy the same status as private property.
EC Ownership Rules at a Glance:
First 5 years (Minimum Occupation Period – MOP): Cannot sell or rent out the whole unit.
Years 6–10: Can sell to Singapore Citizens (SCs) and Permanent Residents (PRs). Whole unit rental allowed.
After 10 years: Fully privatised, can be sold to foreigners.
This structure makes ECs an attractive stepping stone for aspiring private property owners.
Why Were Executive Condominiums Introduced?
ECs were launched in 1995 under then-Prime Minister Goh Chok Tong. The goal was to help “sandwiched” Singaporeans—households earning too much for HDB subsidies but not enough to afford private condos.
The solution was a housing type that combines:
Affordability (with government subsidies and grants)
Exclusivity (condo-style facilities and gated compounds)
Future value (eventual privatisation after 10 years)
Executive Condominium vs Private Condo: What’s the Difference?
While ECs look almost identical to private condos, several important differences exist.
1. Price Comparison
ECs are significantly cheaper than private condominiums in the same area. For example:
Altura EC (Bukit Batok): Around ~$1,479 psf
Lumina Grand EC (Bukit Batok): Around ~$1,525 psf
Private Condos in District 23: From ~$1,8xx psf and above
This price gap exists because:
ECs come with government subsidies (up to $30,000 CPF Housing Grant for eligible buyers).
EC land sites are often in non-mature estates, where land is cheaper.
2. Eligibility
EC buyers must meet HDB eligibility rules, including household type, citizenship, and income ceiling.
Private condos have no such restrictions.
3. Resale & Rental Restrictions
Private condos can be freely sold or rented with no MOP (Minimum Occupation Period), but SSD (Seller Stamp Duty) will apply if sold within 4 years.
ECs face resale restrictions for 5–10 years, until full privatisation.
4. Financing
ECs cannot be bought with an HDB loan. Buyers must use a bank loan.
Private condos are also bank-loan only, but ECs require more upfront cash due to restrictions on CPF usage.
Executive Condominium Eligibility Requirements
To buy a new EC directly from a developer, you must meet the following conditions:
Household Nucleus – Must qualify under one of these schemes:
Public Scheme (family nucleus of SCs/PRs)
Fiancé/Fiancée Scheme
Orphans Scheme
Joint Singles Scheme (all must be SCs, aged 35+)
Citizenship – At least one applicant must be a Singapore Citizen, and the other must be either an SC or PR.
Income Ceiling – Maximum household income of $16,000 per month.
Property Ownership – Cannot own or have disposed of private property within the last 30 months.
Executive Condominium Financing & Loan Rules
Loan-to-Value (LTV) Limits
Maximum 75% LTV if no outstanding home loan.
Remaining 25% must be covered by cash/CPF (with at least 5% in cash).
Mortgage Servicing Ratio (MSR)
Maximum 30% of gross monthly income can go toward EC loan repayment.
Total Debt Servicing Ratio (TDSR)
Maximum 55% of income for all debt obligations combined.
EC Payment Schemes: Progressive vs Deferred
There are two ways to pay for your EC:
Progressive Payment Scheme (PPS): Pay in instalments as construction progresses. Lower overall cost.
Deferred Payment Scheme (DPS): Pay most of the amount (up to 80%) only when EC obtains TOP. Higher total cost (2–3% more), but useful for cash flow management.
CPF Housing Grants for Executive Condominiums
While ECs are not eligible for HDB loans, buyers can receive CPF Housing Grants:
Family Grant: Up to $30,000 for SC/SC households. SC/PR households receive up to $20,000.
Half-Housing Grant: For couples where one is a first-timer and the other has already received a housing subsidy.
These grants help lower the overall purchase price and make ECs even more attractive compared to private condos.
Are Executive Condominiums Worth Buying?
Executive Condominiums combine the affordability of public housing with the prestige of private condos. Their lower entry price, CPF Housing Grants, and eventual full privatisation make them one of the most value-for-money housing options in Singapore.
However, ECs may not suit everyone. Buyers must meet strict eligibility rules, accept the 5-year MOP, and be prepared for upfront cash payments since only bank loans are allowed.
Conclusion
Executive Condominiums in Singapore are a smart choice for middle-income families who want the lifestyle of a private condo without the hefty price tag. With government support, attractive facilities, and strong long-term value, ECs continue to be in high demand.
If you’re eligible and ready to commit, buying an EC could be one of the best property decisions you’ll make.