Executive Condominium Singapore

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. 

Current List of Executive Condominium in Singapore

(Building under Construction)

Location
North Gaia (Q1 2022)
Yishun Avenue 9, Yishun
Upcoming EC @ Tengah (2022/2023)
TBA
Upcoming EC @ Tampines (2022/2023)
TBA
Piermont Grand
22 Sumang Walk, Punggol
Parc Central Residences
121 Tampines Street 86, Tampines
Provence Residences
23 Canberra Cres, Yishun
Parc Greenwich
31 Fernvale Ln, Seletar
OLA
70-86 Anchorvale Crescent, Sengkang
Total Units
North Gaia (Q1 2022)
616
Upcoming EC @ Tengah (2022/2023)
639
Upcoming EC @ Tampines (2022/2023)
TBA
Piermont Grand
476
Parc Central Residences
700
Provence Residences
400
Parc Greenwich
496
OLA
548
Available Units
North Gaia (Q1 2022)
439
Upcoming EC @ Tengah (2022/2023)
639
Upcoming EC @ Tampines (2022/2023)
TBA
Piermont Grand
SOLD OUT
Parc Central Residences
SOLD OUT
Provence Residences
SOLD OUT
Parc Greenwich
SOLD OUT
OLA
SOLD OUT

North Gaia

(Launching in Mar/Apr 2022)

Did you miss your chance previously to secure an Executive Condominium Unit?

Join the upcoming ballot for North Gaia and secure units at entry price before any price increase! 

Visit our North Gaia Page here.

North Gaia Executive Condominium

Check your eligibility to purchase an Executive Condominium

Read more about your eligibility to purchase a new Executive Condominium. Get a personalised assessment by our consultants without any obligation.

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