Executive Condominium in Singapore
Executive Condominium are managed by HDB (Housing Development Board) but are built by private developers. Hence all ECs comes with a full range of facilities comparable to any private condominiums.
As ECs are managed by HDB, prices that the developer set must be approved by HDB before public sale begins. This ensures that EC will always be priced subsidised below current condominium market prices. Additionally, HDB also facilitates the sale of the units to ensure buyers are qualified and are not overleveraged while also offering subsidies for certain income groups.
Are you a Singaporean or Permanent Resident who is making a healthy income but still not ready to upgrade to a private residence? Or you are building a family and worry that upgrading and renting will disrupt your family planning? Here are some important things that you might not know about ECs.
one
You do not need to sell your HDB before booking an Executive Condominium unit. You can continue to stay in your HDB until the EC is built, which eases the transition process!
two
As Executive Condominiums are considered as an HDB unit at the point of ownership, there is no ABSD payable when purchasing an EC while still owning your HDB. This avoid hefty cash upfront when booking for your EC unit.
three
Executive Condominiums have Deferred Payment Scheme for buyers. At the point of purchase, buyers will only pay 5% booking fee and another 15% (cash/cpf payable) when signing the sales & purchase agreement. The remaining payment will be deferred to when the Executive Condominium is built (upon TOP).
four
Similar to buying a BTO unit from HDB, first-timer have a higher priority to secure the unit that they are aiming for!
five
Executive Condominium follows the Mortgage Servicing Ratio (MSR) rule set by HDB. Meaning you can only use 30% of your combined monthly income to service the house repayments. This ensure Singaporeans are not over-leveraged in their home purchase which makes Executive Condominiums a very sound investment. There is even housing grants for certain income groups!
six
Executive Condominiums are considered subsidised housing offered by our government. Hence you can enjoy similar or even higher capital appreciation similar to BTO units which are also subsidised. Executive Condominiums per square feet prices are generally 15-20% lower than private BUC units.
North Gaia
Located in Yishun, opposite Khatib Bongsu Park, which as officially announced as a Nature Reserve by Nparks. Residents here get to enjoy unblocked greenery views and direct access to park connector for all your healthy habits.
Copen Grand
Located in the heart of the new Tengah Estate, and across the future Tengah Town Hub.
Residents get to enjoy living in an eco-city and enjoy accessibility to nearby amenities in west side of Singapore.
Tenet
Civic, Level, Radar, Noon, Refer and… Tenet.
Located in Tampines New Town, this new executive condominium will be located at Tampines, with quick access to the highway towards Changi airport. If you are a frequent flyer or simply like what the east offers (parks, hawkers, airports, serenity), Tenent has something in stall for you.
Image to be released soon.
Current List of Executive Condominium in Singapore
(Building under Construction)
Location
Lumina Grand
Altura
North Gaia
Tenet
Copen Grand
Piermont Grand
Parc Central Residences
Provence Residences
Parc Greenwich
OLA
Total Units
Lumina Grand
Altura
North Gaia
Tenet
Copen Grand
Piermont Grand
Parc Central Residences
Provence Residences
Parc Greenwich
OLA
Availability
Lumina Grand
Altura
North Gaia
Tenet
Copen Grand
Piermont Grand
Parc Central Residences
Provence Residences
Parc Greenwich
OLA
Check your eligibility to purchase an Executive Condominium
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Contact
+65 8885 6761
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