Should I Buy Executive Condo – Pros and Cons Explored

Thinking about getting an executive condominium (EC) in Singapore? It’s a big decision. You have to think about affordability, amenities, and even government grants. This guide will take you through the good and bad of buying an EC. You will learn about what makes ECs unique and how you can qualify.

Are you a first-time homebuyer or an investor looking for a good deal? This guide is for you. It will help you decide if an EC is right for you in Singapore. By the end, you will know the benefits and the not-so-great parts of owning an EC. This knowledge will help you make a smart choice for you and your budget.

Key Takeaways:

  • ECs are more affordable than private condos, making them a great choice for middle-income families in Singapore.
  • EC owners get to use top-notch amenities, just like in private estates.
  • ECs can increase in value over time, which is good for your investment.
  • First-time buyers might get housing grants that help with the initial costs.
  • But, there are rules about when you can sell and how long you have to live there before selling.

What is an Executive Condo?

An executive condominium (EC) offers a mix of public and private housing features in Singapore. They’re built by private companies but sold cheaper. This makes them perfect for middle-class people who find private condos too costly.

ECs are a special type of housing, combining private development but with public oversight from the Housing and Development Board. For the first 10 years, they’re seen as public housing, following HDB’s rules. After this 10-year period, they become fully private. This shift allows owners to sell to a broader market, including foreigners.

Eligibility Criteria

To buy an EC, you have to meet some HDB-set rules. For instance, your household income can’t be more than S$16,000 monthly. At least one buyer has to be a Singapore citizen. And you can’t have owned private property in the last 30 months before applying for an EC.

First-time buyers might get help from CPF housing grants. These grants are meant to lower the initial cost of buying an EC.

Pros of Buying an Executive Condo

Looking to buy anexecutive condo

in Singapore offers many benefits for those in the middle income. These include theaffordable pricing

, access to premium amenities

, and the potential for capital appreciation.

Affordable Pricing

Executive condos are priced about 25% lower than private condos. This is because of certain income limits and affordability rules for buyers. It opens the door for middle-income families in Singapore to own a home.

Access to Amenities

ECs rival private condominiums in the quality of living they offer. They come with pools, gyms, and other great facilities like tennis courts. EC owners get these without the high costs of private condos.

Potential for Capital Appreciation

ECs tend to grow in value over time. This means that after some years, you might be able to sell for more than you paid. Some past buyers have seen big profits, up to 60%, making ECs a good investment.

Eligibility for CPF Housing Grants

First-time buyers of new ECs might get a boost from CPF housing grants. These include the AHG and SHG. They offer financial help, making it easier for some to buy an EC.

Factors to Consider Before Purchase

Planning and budgeting well is essential for buying an EC. You need to know if you can pay the initial costs and the monthly repayments. Tools like the DBS MyHome Planner help figure out how much you can borrow and if buying an EC fits your long-term money plans.

Financial Planning and Budgeting

Make sure you can afford the EC before you buy. Think about your income, debts, and savings. This ensures you can handle the initial and monthly costs without financial stress.

Location and Accessibility

The EC’s location is a crucial point. ECs are often in growing areas. While this keeps prices down, some amenities might not be fully ready. Check if it’s close to transit, shops, schools, and other services you need before choosing.

Cons of Buying an Executive Condo

Executive condos (ECs) come with lots of benefits. But there are some things to think about before buying. One big issue is the rules around selling an EC in the first 10 years.

Resale Restrictions

The first 10 years have executive condo resale restrictions. Only Singaporeans and permanent residents can buy them during this time. This may lower how much you can sell your EC for and how quickly you can find a buyer.

Minimum Occupation Period

There‚Äôs also a rule that you must live in your EC for 5 years. You can’t rent or sell it during this period. This could be tough if you were hoping to move soon or sell your home.

Limited Financing Options

ECs cannot be bought with an HDB loan. You must get a bank loan, which needs a 25% downpayment. This affects how much you can borrow. It might be harder for some to afford an EC because of this.

Executive Condo Payment Schemes

Thinking about buying an executive condo (EC) in Singapore offers two payment plans: the Normal Payment Scheme (NPS) and the Deferred Payment Scheme (DPS). It’s important to know the differences. This knowledge can help pick the best plan based on your money situation and what you like.

Normal Payment Scheme (NPS)

With the executive condo normal payment scheme, you pay in parts as the building progresses, usually 5-10% of the price every 6 months. This way of paying helps keep your money spread out as the EC gets built.

Deferred Payment Scheme (DPS)

Choosing the executive condo deferred payment scheme means you pay 20% at the start. The rest is paid when you get your Temporary Occupation Permit (TOP) and your keys. Although it looks good because it eases your cash flow, it usually costs more overall by 2-3%. So, the NPS might be a better choice for most unless you have a good reason to pick the deferred plan.


Buying an executive condo (EC) in Singapore is wise for many middle-income buyers. They offer a great mix of cost-friendly living and top-notch features like private condos. ECs cost less at first, come with amazing amenities, and tend to grow in value over time.

Yet, think about some cons too. There are resale rules for the first 10 years and a must to live there for a time. Financing isn’t as flexible as for HDB flats either. It’s key to plan well and think hard about what you need for the future.

Deciding on an EC needs a deep look at its upside and what might be tough. Understanding its unique rules is crucial. This helps buyers guide their choice based on their own goals and dreams.


What is an executive condo (EC) in Singapore?

An executive condominium (EC) mixes public housing and private condos in Singapore. They’re sold by private developers but are cheaper. This makes them a great middle-ground choice for many.

Who is eligible to purchase an executive condo in Singapore?

If you want to buy an EC, you need to meet HDB’s criteria. For instance, you should earn no more than S$16,000 a month and have at least one Singapore citizen in your family. Also, you can’t have owned a private property over the last 30 months before applying.

What are the advantages of buying an executive condo?

Buying an EC means you get more bang for your buck compared to private condos. You also enjoy quality amenities and the chance for your property’s value to go up. Plus, first-time buyers can get CPF housing grants.

What factors should I consider before buying an executive condo?

Think about your finances, including affordability and how you’ll pay it off. Also, consider where the EC is located and how easy it is to get around from there. Remember the resale and occupation rules too.

What are the potential drawbacks of buying an executive condo?

There are downsides, like the resale restrictions and needing to live there for 5 years. Financing may be trickier than with HDB flats.

What are the different payment schemes available for executive condos?

For ECs, you can go with the Normal Payment Scheme (NPS) or the Deferred Payment Scheme (DPS). The NPS spreads out payments linked to construction milestones. The DPS lets you put 20% down first and pay the rest when the EC is ready to move in.