With the recent higher-than-expected bidding for the 2 executive condominium (EC) sites, EC has become one of the hottest topics in town. National Development Minister Mah Bow Tan also announced that more ECs will be built this year – about 10 per cent of the estimated 12,000 new flats to be built this year.

Many are wondering what exactly an executive condominium is.

ECs were actually introduced in 1995 with the aim to cater to the needs of Singaporeans who are not eligible for HDB flats but also cannot afford private property. The design and facilities for EC are comparable to private condominiums. However, similar to public housing, ECs have initial sale restrictions and only become a private property fully only after ten years.

Here are some quick facts about EC:

1. A Singaporean Citizen, who is at least 21 years old, with a family nucleus.
    
2. If you are single, you may buy it under the Joint Singles Scheme (with another single) where both of you must be at least 35 years old.
    
3. Gross monthly household income must not exceed $10,000.
    
4. A minimum 5 years of occupation before you can resell it.
    
5. After selling your EC in the open market, you must wait for 30 months before you can submit an application for a new HDB flat, a DBSS flat from developers or another EC from developers.
    
6. As first-time applicants for a flat, you may apply for CPF housing grant.
    
7. However, you will not be able to receive any more grants if you buy another EC.

Back to Top