Category Executive Condo

An Executive Condominium (EC) in Singapore is a type of housing option that is subsidized by the government and targeted towards the “sandwiched class” of Singaporeans who are not eligible for public housing but cannot afford private property. ECs offer similar facilities and amenities as private condos but are more affordable due to the government subsidy. ECs also come with eligibility conditions that must be met, such as income ceilings and ownership restrictions. After a certain period of time (usually 5 years), the EC can be sold to Singaporeans or Permanent Residents (PRs) at a market rate, and after 10 years, it can be sold to foreigners.

How Much Do You Need to Earn to Buy an Executive Condo in Singapore?

Singapore from Swissotel The Stamford
Considerations for purchasing an executive condominium (EC) in Singapore include income, property prices, eligibility, additional costs, housing grants, and mortgage loans. The current income ceiling is SGD 16,000 per month, and property prices range from SGD 800 to SGD 1,200 per square foot (PSF). Additional costs include stamp duties, legal fees, and mortgage insurance. Eligible buyers may qualify for CPF housing grants ranging from SGD 10,000 to SGD 30,000. Banks offer up to 80% loan-to-value ratio for ECs under construction. For a property priced at SGD 1 million with a 20% down payment of SGD 200,000, the estimated monthly installment would be around SGD 3,382 for a 25-year loan at 2% interest. Consult a financial advisor for personalized advice.

“How to Successfully Sell Your EC After 5 Years: Unlock These Secret Strategies”

Singapore Building Constrution
Yes, you can sell your Executive Condominium (EC) after fulfilling the 5-year Minimum Occupation Period (MOP). After completing the MOP, you are allowed to sell your EC to Singapore citizens or Singapore Permanent Residents. However, if you wish to sell your EC to foreigners or non-residents, you must wait for a total of 10 years from the date of purchase, when the EC becomes fully privatized.

Best Condo Floors in 2023: Discover the Best Floor for Your Dream Home!

Singapore CBD Residential Block
High floors offer breathtaking views, enhanced privacy, and a quiet refuge from noise disturbances. Low floors provide convenience and accessibility, especially during emergencies or power outages. Higher floors often carry a higher price tag compared to their lower counterparts. Lower floors may experience more foot traffic and a greater likelihood of pest intrusions.