3 Things You Didn’t Know About Executive Condominiums (ECs)


A hybrid of public and private housing. There are some unique qualities about ECs that you may not know. Find out if this is the kind of housing for you!

  1. Privatisation of ECs

After a minimum occupancy period of five years, your EC can be sold to Singaporeans or Singapore Permanent Residents (PRs). After another five years, your EC will gain a fully privatised status. This means that anyone can buy them, even foreigners and corporate entities. This is in contrast to resale flats under HDB which remain as HDB properties throughout their 99-year lease. What does this mean for you? Upon privatisation of your EC, it can be sold to a bigger market with lower restrictions. This opens up the opportunity to fetch a higher price as the sale of your flat is not limited to Singaporeans or PRs only.

  1. ECs are sold by Private Developers but subsidised by the Government

Similar to private condominiums, ECs are built, sold and marketed by private developers. ECs also come with a range of facilities such as a swimming pool, gym, playground security and more. However, they are priced lower than private homes due to subsidies provided by the government on the price of the land. In addition, you are also able to take CPF grants to fund your EC, subject to your eligibility. What does this mean for you? You get a “private” experience at a more “public” price. If you fancy the kind of lifestyle that comes with a private condominium but don’t want to pay the high prices, ECs may be the kind of housing for you.

  1. HDB Loans do not cover ECs

The debate between a HDB loan and a bank loan can go on and on. However, with an EC, you only have one option – bank loans. While you may be able to obtain lower interest rates, you will have to fork out more cash upfront. If having cash readily available for the downpayment may pose an issue to your finances, ECs may not be the ideal choice for you.

Want to know how you can get your dream EC with the best mortgage loan? Contact us and we will be more than willing to assist you.