{"id":18114,"date":"2018-07-04T11:12:10","date_gmt":"2018-07-04T03:12:10","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=18114"},"modified":"2022-07-01T04:56:47","modified_gmt":"2022-06-30T20:56:47","slug":"executive-condominium-alternatives","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/executive-condominium-alternatives\/","title":{"rendered":"3 executive condominium alternatives you should consider"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p><span style=\"font-weight: 400;\">In 2017, Rivercove Residences, the most recent <\/span><a href=\"https:\/\/www.99.co\/singapore\/insider\/executive-condominium-vs-private-condo\/\"><span style=\"font-weight: 400;\">Executive Condominium (EC)<\/span><\/a><span style=\"font-weight: 400;\"> to be launched, <\/span><a href=\"https:\/\/www.businesstimes.com.sg\/real-estate\/80-of-ec-units-at-rivercove-residences-sold\"><span style=\"font-weight: 400;\">sold like hotcakes<\/span><\/a><span style=\"font-weight: 400;\"> for an average of $965 per square foot (psf). While the appeal of living in a condo in Singapore on the cheap is obvious to many, the reality is that EC launches are getting fewer \u2014 with the government allocating fewer sites in recent years and only one EC projected to launch (at Tampines Ave 10) in 2018.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Given there\u2019s a large pool of home-seekers in Singapore within the income range of $10,000 to $14,000, demand for ECs far outstrips supply. If you\u2019re intending to buy a home and perhaps set up a family, it\u2019d be unrealistic and impractical to wait for the next EC launch (in 2019). While ECs are great, consider these alternatives, which come with their own set of advantages:<\/span><\/p>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_10984\" aria-describedby=\"caption-attachment-10984\" style=\"width: 720px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-10984\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2017\/07\/pinnacle-at-duxton.jpg\" alt=\"Executive Condominium Alternative HDB\" width=\"720\" height=\"405\" \/><figcaption id=\"caption-attachment-10984\" class=\"wp-caption-text\">HDB resale flats in prime locations can cost less than ECs.<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<ol>\n<li>\n<h3><b> Resale HDB flats <\/b><\/h3>\n<\/li>\n<\/ol>\n<p><b>Why choose this over an EC?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">You can get a resale flat in a mature district, where abundant amenities make up for (or exceed) the benefits of facilities of an executive condominium<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Against a yet-to-be-completed EC, resale flats provide an immediate place to move into; and you can inspect the actual property before buying<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A resale flat in a desirable location (e.g. Queenstown) can still cost less than an EC, leaving you with more spare cash for investment or other uses<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Sure, they don\u2019t have a pool and gym, but resale HDB flats can more than make up for those small drawbacks. For example, resale flats can be located in more mature areas than ECs; you might find the convenience of having a nearby mall \/ eateries \/ transport hub all outweigh the pool and gym. If it\u2019s a resale flat versus and under-construction EC, you also have the advantage of being able to move in right away.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Take, for example, <\/span><a href=\"https:\/\/www.99.co\/singapore\/s\/sale\/hdb\/the-pinnacle-duxton-de84zoRNJ9gpzbow3a7N2CS3\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Pinnacle@Duxton<\/span><\/a><span style=\"font-weight: 400;\">. At an average price of around $850 psf, these resale flats are situated close to the Tanjong Pagar area. It provides fast access to the Central Business District, as well as numerous malls and restaurants in the area \u2014 all at less than the cost of an EC.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Other examples \u2014 which are all less than 10 years old \u2014 include <\/span><a href=\"https:\/\/www.99.co\/singapore\/s\/sale\/hdb\/kim-tian-green-depfK8osXb3mha5cJ6gGg8Ag\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Kim Tian Green<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.99.co\/singapore\/s\/sale\/hdb\/city-view-boon-keng-deXqTs8Y3A5UnTZaGRUXe6d3\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">City View @ Boon Keng<\/span><\/a><span style=\"font-weight: 400;\">. Not only are these cheaper than ECs on average, you\u2019ll find they\u2019re more accessible than ECs, which are mostly located in out-of-central areas such as Sengkang and Tampines.<\/span><\/p>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_18116\" aria-describedby=\"caption-attachment-18116\" style=\"width: 720px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-18116\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2018\/07\/executive-condominium-alternative-freehold.jpeg\" alt=\"Executive Condominium Alternatives Freehold\" width=\"720\" height=\"480\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2018\/07\/executive-condominium-alternative-freehold.jpeg 1200w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2018\/07\/executive-condominium-alternative-freehold-940x627.jpeg 940w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2018\/07\/executive-condominium-alternative-freehold-440x294.jpeg 440w\" sizes=\"(max-width: 720px) 100vw, 720px\" \/><figcaption id=\"caption-attachment-18116\" class=\"wp-caption-text\">Changi Court is located near to the newly opened Upper Changi MRT station.<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<ol start=\"2\">\n<li>\n<h3><b> Older freehold condos <\/b><\/h3>\n<\/li>\n<\/ol>\n<p><b>Why choose this over an EC?<\/b><\/p>\n<ul>\n<li><b><span style=\"font-weight: 400;\">It\u2019s freehold, whereas most ECs are on 99-year leases. Freehold condos also tend to yield better sales proceeds if an en-bloc happens.<\/span><\/b><\/li>\n<li><b><span style=\"font-weight: 400;\">There\u2019s no wait for your unit to be privatised. ECs are only privatised after their 10<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> year.<\/span><\/b><\/li>\n<li><span style=\"font-weight: 400;\">Freedom from the five-year Minimum Occupancy Period (MOP). If you like, you can buy and rent it out straight away, while living with your parents for a time. This can defray a large portion of costs. <\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If you look outside the central region, you\u2019ll find a lot of older freehold condos at around $1,079 per square foot. Now if that is slightly above your budget, you can consider a slightly smaller unit, or buying one and renting it out for a while before you move in.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you rent out the unit for five years before getting married and moving in, for example, you could effectively be buying on the cheap (that is, your rental income absorbs the cost for the first few years). And in the end, you <\/span><i><span style=\"font-weight: 400;\">still <\/span><\/i><span style=\"font-weight: 400;\">end up with a condo with a pool and gym.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Compared to 99-year leasehold ECs, freehold properties may also be a better option for first-time buyers who see home as something permanent and an asset to be passed on to the next generation. Considering this, it could be worth paying the price premium for a technically \u201cunlimited\u201d lease, just to avoid any worries about expiring leases.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Take a look at these older freehold units in <\/span><a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/changi-court\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Changi Court<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/the-summit\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Summit<\/span><\/a><span style=\"font-weight: 400;\">, or <\/span><a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/hume-park-ii\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Hume Park II<\/span><\/a><span style=\"font-weight: 400;\">. Many of these units are quite easy to rent out (Changi Court is right next to the SIA training centre); and because they\u2019re freehold, you don\u2019t have to worry about the lease running out some day.<\/span><\/p>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_18117\" aria-describedby=\"caption-attachment-18117\" style=\"width: 720px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-18117\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2018\/07\/executive-condominium-alternative-leasehold.jpeg\" alt=\"Executive Condominium Alternative Leasehold\" width=\"720\" height=\"480\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2018\/07\/executive-condominium-alternative-leasehold.jpeg 720w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2018\/07\/executive-condominium-alternative-leasehold-440x294.jpeg 440w\" sizes=\"(max-width: 720px) 100vw, 720px\" \/><figcaption id=\"caption-attachment-18117\" class=\"wp-caption-text\">The Baywater condo is located near Bedok Reservoir MRT.<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<ol start=\"3\">\n<li>\n<h3><b> A normal, 99-year suburban condo<\/b><\/h3>\n<\/li>\n<\/ol>\n<p><b>Why choose this over an EC?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">As with point 2, these are private properties with no MOP period, or other HDB rules <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The price difference is not as huge as most people think<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">You can move into a resale condo right away<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Better, more accessible locations<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">You get an executive condominium because a regular 99-year leasehold condo is too expensive, right? Well that\u2019s how most people think, but the real price difference might surprise you. Do a search on Singapore&#8217;s largest\u00a0<a href=\"http:\/\/www.99.co\/?utm_source=blog%20main%20site%20conversion\">property portal 99.co<\/a> and you&#8217;ll find many larger suburban condos (3-bedrooms) that go for below $1,000 psf. That\u2019s a price comparable to an EC.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Don\u2019t believe us? Check out <a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/baywater\" target=\"_blank\" rel=\"noopener\">Baywater<\/a><\/span><span style=\"font-weight: 400;\">, which can go below $950 psf for a 3-bedroom unit. Or <\/span><a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/the-quartz\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Quartz<\/span><\/a><span style=\"font-weight: 400;\">, which we\u2019ve seen falling to $980+ psf, and <\/span><a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/westcove\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Westcove<\/span><\/a><span style=\"font-weight: 400;\">, which has reached as low as $904 psf. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">So if you\u2019d rather not deal with HDB restrictions, <\/span><i><span style=\"font-weight: 400;\">always <\/span><\/i><span style=\"font-weight: 400;\">compare the prices of regular condos to your intended EC first. <strong>Don\u2019t make the assumption that it\u2019s out of your budget as you\u2019ll be surprised at how narrow the gap between the two has become.<\/strong><\/span><\/p>\n<p><em>Voice your thoughts in the comments section or on\u00a0<a href=\"https:\/\/www.facebook.com\/groups\/yourpropertycommunity\/\" target=\"_blank\" rel=\"noopener\">our Facebook community page<\/a><\/em>.<\/p>\n<p>&nbsp;<\/p>\n<p>If you found this article helpful, 99.co recommends <a href=\"https:\/\/www.99.co\/singapore\/insider\/99-year-leasehold-freehold-condo\/\" target=\"_blank\" rel=\"noopener\">Should you buy a 99-year leasehold over a freehold condo?<\/a>\u00a0and <a href=\"https:\/\/www.99.co\/singapore\/insider\/paying-executive-condo\/\" target=\"_blank\" rel=\"noopener\">99.co guides: Everything to know about paying for an Executive Condo<\/a><\/p>\n<p>Looking for a property? Find your dream home on Singapore\u2019s largest\u00a0<a href=\"http:\/\/www.99.co\/?utm_source=blog%20main%20site%20conversion\">property portal 99.co<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2017, Rivercove Residences, the most recent Executive Condominium (EC) to be launched, sold like hotcakes for an average of $965 per square foot (psf). While the appeal of living in a condo in Singapore on the cheap is obvious to many, the reality is that EC launches are getting fewer \u2014 with the government&hellip;<\/p>\n","protected":false},"author":21,"featured_media":55207,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53601,53725,53589,57131],"tags":[53604,53707,53661,53634,53644],"persona":[],"class_list":{"2":"type-post","16":"entry","17":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>3 executive condominium alternatives you should consider - 99.co<\/title>\n<meta name=\"description\" content=\"New launches for executive condominium (EC) projects are few and far between. 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