The Executive Condominiums Housing Scheme (ECHS) is the Government’s housing scheme to cater to the aspirations of Singaporeans to live in private properties. Hence, Executive Condominiums (EC) were introduced to cater to such Singaporeans who can afford more than an HDB flat but find private property out of their reach.
Executive Condominiums (ECs) are developed and sold by private developers. They are comparable to private condominiums in design and facilities but are sold at more competitive prices. In general, the price range for EC is about 15 - 30% lower than new private condominium around the same vicinity.
Similar to private condominium, ECs are sold with strata titles. This allows buyers to collectively own common property like car parks and recreational facilities.
Executive Condominiums (ECs) are developed and sold by private developers. They are comparable to private condominiums in design and facilities but are sold at more competitive prices. In general, the price range for EC is about 15 - 30% lower than new private condominium around the same vicinity.
Similar to private condominium, ECs are sold with strata titles. This allows buyers to collectively own common property like car parks and recreational facilities.
Benefits of EC
Between EC and PTE Condo, EC is good to consider if budget doesn't permit to go straight into PTE Condo.
ECs are not allowed to be sold until the Minimum Occupation Period (MOP) of 5 years has been fulfilled, then it could be sold in the open market to Singaporean and/or Permanent Resident. After 10 years, it is fully-privatized & can be sold to any person including foreigners in the open market.
Also, ECs are different from private condominium in that buyers have to meet the basic eligibility conditions to be allowed to submit an application to purchase which makes it quite EXCLUSIVE as one cannot simply purchase even though he may have the means to buy.
On top of that, eligible 1st timer applicants can get to apply for up to $30,000 HOUSING GRANT that can be used as part of the down-payment for the EC unit.
Between EC and PTE Condo, EC is good to consider if budget doesn't permit to go straight into PTE Condo.
ECs are not allowed to be sold until the Minimum Occupation Period (MOP) of 5 years has been fulfilled, then it could be sold in the open market to Singaporean and/or Permanent Resident. After 10 years, it is fully-privatized & can be sold to any person including foreigners in the open market.
Also, ECs are different from private condominium in that buyers have to meet the basic eligibility conditions to be allowed to submit an application to purchase which makes it quite EXCLUSIVE as one cannot simply purchase even though he may have the means to buy.
On top of that, eligible 1st timer applicants can get to apply for up to $30,000 HOUSING GRANT that can be used as part of the down-payment for the EC unit.
In summary,these are the benefits to invest into an EC.
- Exclusive (*Only eligible to certain group of people who meet the criteria)
- Enjoy Housing Grant as high as $30,000 (*Conditions apply)
- No need to sell existing HDB now
- No ABSD
- Right Entry Price yet Good Upside Potential
- Full Condo Facilities
- Deferred Payment Scheme available
If you are still not sure whether you are eligible or how much grant you are entitle or whether you could afford to invest into an EC,click & fill up this FORM & we would be pleased to assist you.