Executive Condominiums (ECs) provide the best of both private and public properties. Constructed by private developers, ECs feature full suite of condo amenities at a much more cost-effective price than their private counterparts; furthermore they have minimum occupancy periods and resale restrictions which govern their sale.

ECs are popular among those in the “sandwich class”, who earn too much to qualify for HDB flats but cannot afford private condominiums; yet they still benefit from government subsidies and CPF housing grants.

Location

Executive condominiums (ECs) offer luxurious living without the high price tag of private condos, often providing a mix of public and private housing options with amenities such as parks and gyms nearby. Plus, these apartments tend to increase in value over time!

However, there are key differences between an EC and regular condominium. An EC begins as public housing and must adhere to HDB rules during its first 10 years of ownership; during this timeframe it cannot be rented out or sold to foreigners.

Buyers of Executive Condominiums (ECs) in Singapore must be citizens or permanent residents in order to purchase one using CPF funds and housing loans from financial institutions as financing methods. Loan amounts depend on age and income. Individuals interested can seek an approval-in-principle from their bank in order to see how much money they can borrow.

Amenities

Jurong East is one of Singapore’s most desirable residential areas. Formerly an industrial town, Jurong East has seen massive regeneration over recent years. Now an entertainment and lifestyle hub thanks to its closeness to Central Business District and Changi Airport as well as various amenities.

Shopping, dining and moviegoers looking for entertainment have their choice of malls like Jcube, IMM, Jem and Westgate; additionally there are neighbourhood shops for daily needs as well as numerous parks and nature reserves nearby.

Jurong Region Line will provide even better transportation options in the future and thus make this area an excellent choice for first-time buyers and investors.

Price

ECs are priced more affordably than private condos, making them a viable option for first-time homebuyers. Furthermore, they qualify for up to 30% government grant funding; buyers must take note that during their five year Minimum Occupation Period they cannot rent out the properties to tenants; all ECs must also be fully privatised after 10 years and that any prospective purchasers meet eligibility criteria such as:

Executive condominiums (ECs) are hybrid housing units designed to serve those in the “sandwich class”, those who cannot afford HDB flats due to income thresholds but consider private condos too costly. ECs tend to be larger than HDB flats, come equipped with condo-like amenities like swimming pools and gyms, are priced lower than private condos, and popular among young professionals looking for stylish upmarket residences – although these hybrid dwelling units must be owned by Singaporeans themselves and may have minimum occupancy periods and minimum occupancy periods apply as per regulations set by law.

Leasehold period

ECs are increasingly popular among Singaporeans as they provide many of the benefits associated with private property ownership, including higher-end finishes and facilities. Unfortunately, they can be more costly compared to mass market condos due to being further away from MRT stations, making commuting challenging.

Contrary to private condos, which are sold as freehold properties, ECs are sold on a leasehold basis and subject to a minimum occupation period – during this five year time frame homeowners cannot sell or rent out their units as investment assets; thus ensuring they serve only as housing properties and not investment assets.

Buyers of Executive Condominiums (ECs) can utilize both HDB and private bank loans for financing their purchase, giving more options in terms of down payment and interest rate. Furthermore, ECs qualify for CPF housing grants; eligibility depends on both you and your co-applicant’s combined monthly income. You can register your interest during an EC launch event which typically occurs periodically throughout the year.