Are Ecs Still Good Buy
The sun was shining on Mr Chong when he helped his three boys set up their homes. His eldest boy bought a private condo, while his two younger sons bought executive condos (ECs). “Buying an EC at a new launch is a no-brainer,” he said. “Even if you buy after the five-year MOP [minimum occupation period], it’s still a good entry price.”Chong experienced both situations. His second son purchased a three-bedroom unit at the 531-unit Hundred Palms Residences, which was launched in July 2017. “He wanted to get a four-bedroom unit, but those were quickly taken,” Chong shared.This project by Hoi Hup Realty received 2,000 e-applications and was fully sold on the first day of launch at an average price of $841 psf. It was completed in 2019, and based on land titles registered in January and February 2025, the average price of the units that were sold was $1,769 psf, showing a 110% increase in value over eight years.For more information about ECs, such as the average profit after 5 and 10 years, explore our comprehensive data.Get the latest on all new launchesEC100% offDimensions 2025Property ListingsPromotions EC100% offCondo Listings
Mr Chong, who had been retired, had helped his three boys when they were acquiring their own households. His eldest son purchased a private apartment, whilst his two younger sons obtained executive condos (ECs). According to him, “it’s a no-brainer” to invest in an EC during its launch. It remains an economically sound decision even if the purchase is made shortly after the minimum occupation period of five (5) years has ended.
Chong had personally experienced this. His second son had managed to purchase a three (3)-bedroom unit which belonged to 531-unit Hundred Palms Residences development. The project was officially launched during July 2017. Chong recalls that “he wanted to buy a four-bedroom unit, but those were snapped up so quickly.”
The project was built by Hoi Hup Realty and had received 2,000 e-applications. It was sold out on the first day of launch at an average price of S$841 per square foot. More so, the executive condominium located on Yio Chu Kang Road had already been completed during 2019. Based on caveats lodged during January and February 2025, the average price of units sold was $1,769 psf. This resulted in a 110 percent or more than doubled price gain after eight years.
Should you wish to know more about executive condominiums (ECs), including the average sale profit for after the first five (5) and ten (10) years, you can find comprehensive data on our website.
Based on the selling price of a 1,055 square feet, three (3)-bedroom unit, amounting to $1.95 million ($1,849 psf) in February. Chong estimates that his second son who purchased the unit has experienced an increase in value of approximately a million dollars. This particular achievement had encouraged many to transfer to private accommodation according to Chong.
This photo shows the Hundred Palms Residences, a Hoi Hup Realty development that comprises 531 units and was sold out on the launch day itself. Photo: Agents
The Chong family had previously purchased a three (3)-bedroom unit at The Interlace, which spanned 1,260 square feet, three (3) years ago when his youngest son decided to set up his own home. Last 2021, the family purchased a four (4)-bedroom, dual-key resale unit located at Twin Fountains which had a total of 418 units. This project was developed through the fruitful collaboration between Frasers Property and Lum Chang, and was officially launched during 2013. Its completion followed during 2016.
Executive condominiums are only open or accessible for buying by Singapore citizens or permanent residents (PRs) during its launch. It is only after the five (5)-year minimum occupation period or MOP is reached wherein foreigners would be able to acquire ECs in the resale market. However, the purchase can only occur ten (10) years after the building has finished obtaining its Temporary Occupation Permit (TOP).
The dual-key unit allows Mr Chong to enjoy privacy as he resides in the one-bedroom studio. His second son and family occupy the three (3)-bedroom unit. Aside from the shared entrance, each apartment has its own private entrance.
Twin Fountains, which comprises 418 units, was fully completed during 2016 by a joint venture between Frasers Property and Lum Chang. Photo: Lum Chang website
Chong pointed out that despite having to pay around S$1,000 per square foot for the current unit they own, he has observed that the prices for similar units have gone up even further lately. “Even though you’re late to the party, like my youngest son, and we purchased the property for S$1,000 psf, the current resale prices at Twin Fountains are thirty (30) percent higher,” he added.
Last October, City Developments had its 348-unit Norwood Grand launched at Champions Way in Woodlands. The developer disclosed that around eighty-four (84) percent or majority of the units were already sold during its launch weekend with a price average of S$2,067 psf. This has resulted in a new record or benchmark for Woodlands.
Chong has been observing how closely connected the prices at Twin Fountains were to this new record. He believes that the latest announcement of the revitalization of the area and the building of new infrastructure – such as the Johor Bahru-Singapore Rapid Transit System (RTS) wherein the Singapore terminus will be situated at Woodlands North – has renewed the interest and attention for the northern region.
Although the prices of executive condominiums or ECs have increased and the caps on the loan quantum have tightened, it is still possible for EC buyers to afford them since they are still cheaper than the average ninety-nine (99)-year leasehold private condos situated in the OCR or the Outside Central Region, according to Eugene Lim. Lim is the key executive officer of ERA Singapore.
Lim also added that EC buyers must have a monthly household income which does not exceed S$16,000. They will only be allowed to take out a loan if they passed the Mortgage Servicing Ratio or the MSR (a 30 percent cap) and the Total Debt Servicing Ratio or TDSR (a 55 percent cap) requirements.
Based on the stress test done which stated that the buyer is thirty (30) years old with an income that does not exceed S$16,000, and the maximum cure rate at 30 years, the buyer would be allowed to take a loan worth S$1 million, according to Lim’s estimate.
An executive condominium by PropNex CEO Ismail Gafoor reported that the latest resale price of around S$1.539 per square foot was the median price of new ECs during 2024. For this year, he projects that the current median price for new condominiums would be over S$2,200 psf.
Christine Sun, who is the chief researcher and strategist of OrangeTee Group had found out that the gap between the median prices of new condos and executive condos situated in OCR has gotten narrower in the past years. According to her, based on data from URA Realis, the gap has gone smaller from 49.4 percent during 2023 to 44.2 percent during 2024 and even down to 43.6 percent last January 2025.
Sun has attributed this phenomenon to the increase of 9.6 percent in value for ECs during the period. On the other hand, the price for non-landed homes in the OCR went up by 5.3 percent during the same period.
A three-bedroom premium showroom which was spotted at the sales gallery for the 760-unit Aurelle of Tampines that has a launch date scheduled on the 8th of March. Photo: Samuel Isaac Chua/EdgeProp Singapore
Being more affordable and its price per square foot being lower are a few of the reasons as to why the demand for executive condominiums continues to be steady, according to ERA’s key executive officer Eugene Lim.
Aside from the lower price when compared to new private condos, EC buyers will not have to sell their existing home before buying. On the other hand, HDB upgraders will not incur any additional buyer’s stamp duty (ABSD) fees when purchasing a new EC, according to Lim.
Executive condominium buyers can opt for the Deferred Payment Scheme (DPS) which is available but at a slightly more expensive purchase price. DPAs allow the buyers to only pay the deposit and loan payments will only be made after the EC has finished. This way, buyers will not need to serve two mortgages while waiting for their new property to be completed.
If you’re wondering why EC buyers have not been chasing after executive condominiums, rest assured that its affordability is one of the reasons. Aside from that, its price per square foot is way lower compared to non-landed private condominiums located in the Outside Central Region. However, its price is expected to increase further to S$2,200 psf this year based on Gafoor’s projection. Photo: Samuel Isaac Chua/EdgeProp Singapore
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“If you are an HDB owner and you have set your eyes on an EC while upgrading, you find it easier to do so because there are no ABSD fees to pay and DPS is likewise available,” added Lim. He also believes
