Executive Condo for Sale Under S$ 800k in Singapore

Executive condominiums (EC) are worth buying as they are a hybrid of public and private housing. For the sandwich class, they can enjoy full facilities of a condo while getting government subsidies.

Executive condominiums (EC) are a form of sandwich-class housing built to cater to Singaporeans who bust the income ceiling to own HDB flats but are not financially secure to buy a private condo. Built by private developers, ECs have full condo facilities but they are cheaper and are bounded by eligibility conditions and ownership restrictions in the first 5 years.

To qualify for an EC, you’ll need to be a Singapore citizen and at least one other applicant needs to be a Singapore citizen or PR. Your household income cannot exceed S$16,000 and you must have a family nucleus.

HDBs are fully public housing while ECs will be privatised after 10 years. The loan-to-value (LTV) ratio of HDBs is 80% while the LTV ratio for ECs is 75%. You can use CPF to finance your HDB loan but you’ll need to take a bank loan for ECs. The income ceiling for new HDBs is S$14,000 while the income ceiling for ECs is S$16,000.

Yes, you can buy a new EC if you currently own an HDB. However, you must own either a BTO, an EC, DBSS and a resale HDB bought with housing grants. You’ll be considered a second-timer and will have to pay a resale levy.

The monthly household income ceiling for an EC is S$16,000.

You can use CPF to pay part of the downpayment for your EC, which is up to 20% of the total cost of the EC. The total downpayment for an EC is 25% and the remaining 5% must be in cash.

The downpayment for an EC is 25% of its total. 5% of the downpayment needs to be in cash while the remaining 20% can be paid by CPF, cash or a combination of both. 

ECs are subject to the 5-year Minimum Occupation Period (MOP) set by HDB. Within these 5 years, you’ll have to live in the unit and cannot sell or rent it out. After 5 years, you can sell the EC to Singaporeans and PRs. After 10 years, the EC is privatised and you can sell it to anyone on the open market.

Singles can only buy a resale EC alone but not a new launch EC. For new launch EC, buyers must form a family nucleus and purchase the EC under the Public, Fiance/Fiancee, Orphans and Joint Singles Scheme.

Executive condominiums (EC) are a good investment and prices will appreciate after the 5-year minimum occupation period (MOP). In recent findings by Orange Tee & Tie, 99.9% of ECs sold in the resale market between 2007 and end-Aug 2022 yielded an average gross profit of S$295,904. Most of these were sold less than 10 years after they were first bought. Larger ECs are more likely to earn a higher profit.