The 3Ws of ECs - When, Where, Who
Updated: Jun 16
WHAT are Executive Condominiums (EC) ?
The EC was introduced by HDB in 1997 to cater to Singaporeans, especially young graduates and professionals, who could more than afford a HDB flat but found private property to be out of their financial reach. Compared to a condo at launch, an EC in a similar location usually costs 10% to 20% less than new launch condominiums in the vicinity, due to the lower land costs.
Past research also shows that an EC typically receives a boost in value after 5 years of Temporary Occupation Permit (TOP) when PRs become eligible to buy, and after 10 years when foreigners become eligible to buy. Numbers show that the resale price gap between ECs and private condos will typically decrease when these milestones are hit.
In addition, eligible buyers of ECs are also entitled to CPF housing grants.
Would be good to add in a title and a short intro about the post. WHERE are the Executive Condominiums available in Singapore currently?
Executive condominiums are usually located in the Outside Central Region (OCR) of Singapore. Some of these places are Sengkang, Tampines, Pasir Ris, Sembawang, Yishun, Punggol, Choa Chu Kang.
Some ECs that have already received their Temporary Occupation Permit since 2018 are:
- One Canberra, The Topiary, The Brownstone, and Sol Acres
The EC projects that are currently available for sale are listed below.
- Piermont Grand, Ola, Parc Canberra, Parc Central Residences, Provence Residence, and Parc Greenwich.
These ECs are developed and managed by private developers, and we are part of the Developer Appointed Sales Team for all the above ECs available. So if you are interested to find out more about any of the above ECs, do not hesitate to contact us.
WHO are eligible to buy an EC?
You will need to qualify for the EC under one of these eligibility schemes:
Joint Singles Scheme
You must be
- A Singapore Citizen
- At least 1 other applicant must be a Singapore Citizen or Singapore Permanent Resident
- All singles must be Singapore Citizens if applying under the Joint Singles Scheme
- At least 21 years old
- At least 35 years old, if applying under the Joint Singles Scheme
- Not exceeding $16,000.
- You do not own other property overseas or locally, or have not disposed of any within the last 30 months
- You have not bought a new HDB/ DBSS flat or EC, or received a CPF Housing Grant before; or, have only bought 1 of these properties/received 1 CPF Housing Grant thus far
There are also a number of other aspects of buying the executive condominium – including the finances, planning of your timeline (make sure you have a roof over your head!) and many other miscellaneous matters – which we will cover some of them in the upcoming posts.
We also have downloadable e-books available about ECs at this link [https://www.propertypsf.com/ebooks] if you would like to read more.
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