Executive Condominium, also known as Executive Condo or EC, is a type of accommodation housing in Singapore. The first Executive Condo was built in Singapore in the year 1994, Executive Condo (EC) is a combination mixture of public and private housing. Executive condominium are similar to private condos in such that they too have a guard house to ensure privacy. EC also has condo amenities like gyms, bbq pits, swimming pools, playgrounds, clubhouses and etc. Just like private homes, these executive condos are being built and sold by private executive condo developers, but the price is much lower than private homes. It is because the price of the lands are heavily subsidised by the Singapore Government. In addition, Singapore citizens can use the grants from the Central Provident Fund (CPF) to pay for an executive condo bought directly from a developer.
Hence an Executive condo is conditional upon to some rules and regulations which apply to Housing Development Board (HDB) flats. Not everyone can buy an EC. In order to qualify to buy an new EC, the buyers’ household income must not exceed S$14,000. The limit of the household income was raised from the previous S$12,000 limit. Only a Singaporean can be the main applicant to buy an EC. During the application to buy an executive condo, the Family nucleus must consist of at least either another Singaporean or Permanent Resident. Buyers of an Executive Condo must be at least 21 years old at time of application.
Buying an New EC
If you are interested to buy a new launch executive condominium directly from a developer, there is a five years minimum occupancy period; which means the Executive Condo you purchased cannot be sold or rented out the whole unit during the first five years. After the five years has passed, you can only sell your Executive Condominium unit to Singaporeans or Singaporean Permanent Residents (PRs). Your EC unit can only be sold to foreigners after it has reached ten years old.
The following are the list of upcoming new launch Singapore executive condos in 2015;
- Sol Acres EC in Choa Chu Kang Grove
- Parc Life EC in Sembawang
- Signature at Yishun EC in Yishun Street 51
- The Criterion EC in Yishun Street 51
- The Wandervale EC in Choa Chu Kang Avenue 3
- Brownstone EC in Canberra
List of Executive Condos in Singapore
For a complete list of executive condos in Singapore, please email to us at email@example.com