What Is an Executive Condominium (EC)
The executive condominium (EC) is one of the most popular housing types in Singapore. They are more ‘atas’ than HDB flats, and compared to private condominiums, ECs are more attractively priced and come with comparable facilities and design.
EC is a public-private housing hybrid catered for middle-income Singaporeans who don’t qualify for an HDB new flat due to the income ceiling cap, but still consider private condominiums too expensive.
ECs are developed and sold by private developers but are subsidised by the government. As such, while they have condo-like attributes such as swimming pools, gyms, clubhouse and better design, they are cheaper compared to private condos. As former National Development Minister Khaw Boon Wan puts it, it’s like buying a Lexus at the price of a Corolla.
New Launch EC
Updated as at 19 Mar 2023
| Project | NORTH GAIA | Tenet | Altura (Coming Soon) |
| Location | Yishun Close | Tampines St 62 | Bukit Batok West Ave 8 |
| Launch date | 23 Apr 2022 | 03 Dec 2022 | Est. 3Q 2023 |
| Est. TOP | Est. 1Q 2025 | Est. 1Q 2026 | Est. 2026 |
| Total No. of units | 616 | 618 | Est. 375 |
| Balance Units | |||
| 2 BR = 0 | NA | NA | TBA |
| 3 BR = 335 | 335 | 0 | TBA |
| 4 BR = 55 | 55 | 0 | TBA |
| 5 BR = 13 | 3 | 10 | TBA |
| Total = 403 | 393 | 10 | TBA |
| Available Units Price From | |||
| 2 Bedroom | NA | NA | TBA |
| 3 Bedroom | $1,142,000 | Sold | TBA |
| 4 Bedroom | $1,608,000 | Sold | TBA |
| 5 Bedroom | $1,990,000 | $2,120,000 | TBA |
Upcoming EC
| Project Location | Booking Date | TOP Date | Land Price | Selling Price |
| Altura EC (Bukit Batok West Ave 8) | Est. 3Q 2023 | Est. 2026 | $662 PSF PPR | Est. $1,400 PSF |
| Bukit Batok West Ave 5 | Est. 1Q 2024 | Est. 2027 | $626 PSF PPR | Est. $1,400 PSF |
| Tengah Plantation Loop | Est. 4Q 2024 | Est. 2027 | TBA (27/06/23) | TBA |
| Tampines St 62 Parcel B | Est. 4Q 2024 | Est. 2027 | TBA (18/07/23) | TBA |
| Senja Close (Reserve) | TBA | TBA | TBA | TBA |
| Tengah Plantation Close (Reserve) | TBA | TBA | TBA | TBA |
| Project Name | Altura | TBA |
| Street Name | Bukit Batok West Avenue 8 | Bukit Batok West Avenue 5 |
| Site Area | Est. 12,449.3 Sqm | Est. 16,600 Sqm |
| No. of Units | Est. 375 | Est. 495 |
| Launch Date | Est. 3Q 2023 | Est. 1Q 2024 |
| TOP (Key Collection) | Est. 2026 | Est. 2027 |
| Tenure of Land | 99-Year Leasehold | 99-Year Leasehold |
| Awarded Date | 22 Mar 2022 | 28 Sep 2022 |
| Developer | Qingjian Realty Pte Ltd & and SNC Realty Pte. Ltd. | CDL Zenith Pte. Ltd. |
Quick EC Eligibility Check
| Married Couple | Children + Parent(s) | Non-citizen Spouse + Children | Widowed/ Divorced + Children |
| You must be a Singapore Citizen (SC) & at least 21 years old | |||
| + | |||
| SC or SPR Spouse | SC or SPR Parent(s) | SC or SPR Children | |
| + | |||
| Your average gross monthly household income must not exceed $16,000. | |||
| + | |||
| Current HDB new flat (if any) must met 5-year MOP | |||
| + | |||
| Never or own 1 time new HDB or resale HDB with CPF Housing Grant | |||
| + | |||
| No private residential property or sold more than 30 months | |||
| + | |||
| Min. 5% cash + CPF + Max. 75% Home Loan (total ~103% of NPS Price) | |||
| or | |||
| Min. 5% cash + CPF + Max. 80% Home Loan & Bridging Loan (total ~103% of DPS Price) | |||
| or | |||
| Min. 5% cash + CPF (total ~103% of purchase price) | |||
| 0r | |||
| Full cash (~103% of purchase price) | |||
| Fiancé/ Fiancée | Orphans | Joints Singles |
| Spouse-to-be | All single siblings | 2 to 4 singles |
| You must be a Singapore Citizen (SC) & at least 21 years old | You SC Age at least 35 | |
| + | ||
| SC or SPR age at least 18 | SC or SPR deceased parents | Other(s) SC Age at least 35 |
| + | ||
| Your average gross monthly household income must not exceed $16,000. | ||
| + | ||
| Current HDB flat (if any) must met 5-year MOP | ||
| + | ||
| Never or own 1 time new HDB or resale HDB with CPF Housing Grant | ||
| + | ||
| No private residential property or sold more than 30 months | ||
| + | ||
| Min. 5% cash + CPF + Max. 75% Home Loan (total ~103% of NPS Price) | ||
| or | ||
| Min. 5% cash + CPF + Max. 80% Home Loan & Bridging Loan (total ~103% of DPS Price) | ||
| or | ||
| Min. 5% cash + CPF (total ~103% of purchase price) | ||
| 0r | ||
| Full cash (~103% of purchase price) | ||
Why buy a new EC?
- Good value and potential appreciation
- Around 30% cheaper than private condos
- New ECs are eligible for CPF housing grants
- After 5-year MOP can sell it to SC or SPR or rent it out
- From the 11th year onwards can sell it to foreign buyers
- Capital gains are generally higher compared to resale condos
- Only new ECs can apply for the Deferred Payment Scheme (DPS)
- Can decoupling (remove a name to invest in private property) after 5-year MOP
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