Executive Condominium (EC) allow permanent residents (PRs) and Singaporeans to satisfied with the best of both worlds – the benefit of government grants and the luxury and quality of condo projects designed by the best architects.
Executive Condominium (EC) are hybrid of public-private with all the captivating frills of private condominiums, such as gyms, security and swimming pools. Just like private condos, EC are built and designed by private developers, however due to government grant it cost less.
ECs buyers may be qualified for up to $30,000 CPF Housing Grants depending on the total gross household monthly income.
In accordance with Singapore HDB’s rules, the property can only be resold to PRs or Singaporeans after the 5-year MOP is up.
Recently, Singapore-listed international developer City Developments Limited (CDL) unveiled 2 EC projects, The Brownstone EC and The Criterion EC, both EC projects are due to receive TOP by late 2018 and early 2019.
Singapore EC offer everything that residents could possibly desire, top notch facilities, quality finishes and proximity to essential amenities, but much affordable compared to private condos.