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Singapore Executive Condominium (EC)

 

Sol Acres Executive Condominium

Sol Acres EC

 

ForestVille Executive Condominium

Forestville EC

 

Lake Life EC

Lake Life EC

 The Criterion EC

The Criterion EC

 

Sea Horizon EC

Sea Horizon EC

 

SkyPark Residences EC

SkyPark Residences EC

 

The Amore EC

The Amore EC

 

The Brownstone EC

The Brownstone EC

The Vales EC

The Vales EC

Waterwoods Executive Condominium

Waterwoods EC

Westwood Residences Executive Condominium

Westwood Residences EC

 Sol Acres EC

Sol Acres EC

 Executive Condominiums

Executive Condo

District

Location

MRT/LRT Station

Sea Horizon

18

Pasir Ris Drive 3 Pasir Ris, EW1
The Amore

19

Punggol Central / Edgedale Oasis, PE6 / Kandaloor, PE5
Waterwoods

19

Punggol Field Walk / Punggol East Coral Edge, PE3
The Vales

19

Anchorvale Crescent Sengkang MRT
Lake Life

22

Yuan Ching Road / Tao Ching Road Lake Side, EW26
Westwood Residences

22

Westwood Avenue

Boon Lay MRT, EW27

Forestville

25

Woodlands Ave 5 / Woodlands Drive 16 Woodlands South, TE3 / Admiralty, NS10
Twin Fountain

25

Woodlands Avenue 6 Woodlands South, TE3
Skypark Residences

27

Sembawang Crescent / Drive

Sembawang, NS11

Sol Acres

23

Choa Chu Kang Grove Keat Hong BP3 / Teck Whye BP4

The Criterion EC

Executive Condominium (EC) afford Singaporean a sustainable platform for property investment and wealth creation! EC is a form of HDB (Housing Development Board) flat and has similar rules and regulations as stipulated by HDB except that it becomes a private condominium after a Minimum Occupation Period (MOP) of 5-year when it is able to sell in the open market. Owning an EC is a stepping stone to owning a private condominium. To own an Executive Condominium buyer has to pass the HDB eligibility test that also come with restrictions; amongst the various criteria.

Buyer must:

1.

be able to form a family nucleus comprising at least two Singapore citizens (SC) or one SC and one permanent resident (SPR)

2.

must not own a private property locally or overseas

3.

must still be eligible to buy a HDB  flat direct from HDB

4.

combine family applicants' income must not exceed $14,000 per month

5.

those already owning an existing HDB flat, must have stayed in the flat for a Minimum Occupation Period (MOP) of five years after which only able to sell to SC or SPR in the open market as a private condominium; and only able to sell to foreigner after 10 years. Must sell the existing HDB flat within 6 months after TOP (Temporary Occupation Period) of the EC

6.

Resale Levy payable for Second-Timer applicants

7.

Buyers of EC are restricted by Mortgage Servicing Ratio (MSR) cap of 30% of combine applicants' monthly gross income to service the EC loan

With so much restriction and constraints, why is EC still an attractive and safe haven property investment platform for Singaporean?

 Registration Of Interest

First-Time HDB Buyer's Option, Why?

Best HDB Upgrader's Option, Why?

 1.

 EC is only for Singaporean to own. Each Singaporean family has only two chances of buying a HDB flat direct from HDB. You can buy direct from HDB 2 times BTO (Build-To-Order) flats; or 1 time BTO and 1 time EC; or 2 times EC. All HDB flats are subsidized flat. Ironically, buying a BTO HDB flat has much lower subsidy than buying an EC. To give a perspective of how much gain you could get from the 'subsidy', you can look at the quantum of BTO flat (typically in the range of $300k to $500k depending on location and size of the flat) and the EC (typical range from $600k to $1,200k).

2.

Entry buying price of EC is typically 20% to 30% discounted from the prevailing private property price. At the end of the 5-year MOP period where buyer is able to sell in the open market, the selling price of the EC, which becomes a private condominium then, would have move up by 20% to 30% from the buying price to match the private property price; after which it follows the market variation.

3.

Private Condominium, unlike HDB flat, is subjected to market forces to determine its market price. As Singapore's average inflation rate vary between 2% and 4% every year, taking the MOP of 5 years and the lower end of inflation rate of 2%, after 5 years, inflation would have reached between 10% and 20%. Taking into consideration of inflation after 5 years MOP period, the EC market price would have increased by 30% to 40% of its purchase price! After which, it follows the market variation. Is 30% to 40% increase in price after 5 years an attractive proposition? It is no-brainer investment!

4.

Unlike HDB flat, you can apply equity loan on your private condominium to obtain temporary cash to finance your business expansion or property investment!

5.

Singaporean should not forego and give up taking the government subsidies. Instead should fully utilise the government subsidies first to optimise and maximise your property investment return before embarking on purchasing a private property.

Executive Condominium vs Private Condominium?

 1.

 Executive Condominium (EC) is only for Singaporeans and is heavily subsidised (typically 20% to 30%) for the benefit of Singaporean. Whereas, Private Condominium is an un-subsidised property developed by profit making organisation and is opened to any buyer who has the cash to buy; this including foreigner. This means that Private Property buyer has to pay about 20% to 30% more for a similar size unit as compare to EC buyer.

2.

Buyer of private property is subjected to Additional Buyer's Stamp Duty (ABSD) of 7% for second property and 10% for third property onward for Singaporean. Whereas, EC buyer has to pay the resale levy of its subsidised flat after selling the subsidised flat.

3.

EC buyer has more stringent MSR loan of up to 30% gross income requirement. While Private Condo has slightly less stringent TDSR (Total Debt Servicing Ratio) loan of up to 60% gross income requirement.

4.

EC buyer is subjected to HDB eligibility rules and regulation as well as constraints and restrictions of owning the EC. There is some quality or facility deficiency perception issues for EC owner. It is commonly perceived that EC is a more inferior product than that of private condominium. This is no more the case as construction technology, innovation and creativity of developer catches up with that of the private condominium; and some cases surpassing that of private condominium because of much cheaper land cost.

 

Registration Of Interest

   Greater upside for capital appreciation 

Particularly for Executive Condominium (EC), there is a greater potential for capital appreciation due to the lower entry price and after the 5 years minimum occupation period (MOP) when it attains its privatized status and able to sell to Singapore Citizens and Singapore Permanent Residents. After 10 years when it attains its fully-privatized status, foreigners can buy an EC from the resale market, thus increasing the demand. 

.