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  • Executive Condos for Sale in Singapore

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    Executive Condominiums (EC) were introduced to cater to Singaporeans as a form of sandwich-class housing, meaning they were built specifically for Singaporeans who were above the income ceiling to own HDB flats but might not be able to afford a private condominium. If you're looking for an EC for sale, there are over 1300 listings on Being a hybrid of public and private housing, executive condo in Singapore simply are apartments in high-rise buildings with typical private condominium amenities such as swimming pools, clubhouses, and gyms which are sold by private developers but partially subsidised by the Singapore government. Hence, homebuyers can expect lower prices as well as public housing clauses in the purchasing process.  Executive condo prices in Singapore are pretty competitive compared to private condos, often between 15 to 20 per cent cheaper for units of the same size and area. However, should you look to find an EC for sale, keep in mind that unlike HDB loans which can finance up to 80 per cent of the public housing cost, you can only finance your EC using a bank loan. The loan-to-value ratio (max amount you can borrow) for ECs is 75% and the remaining 25% is the downpayment. 5% must be paid in cash and the remaining 20% downpayment can be paid using cash, CPF or a combination of both. You can use the HDB housing grants to offset the cost of buying an EC. Even though executive condos are built and marketed by private developers, they are considered public housing under HDB for the first 10 years and they are subject to the Minimum Occupancy Period (MOP) of five years. During this period, you cannot sell or rent out your unit, which makes a big difference if you are more focused on investment than homeownership. After the MOP is up, executive condo resale is finally made possible under a certain condition, where the resale EC is for sale only to locals. However, after the 10th year, an executive condominium will automatically be converted into private property and therefore may be sold as a regular private condominium in the open market.
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