8,000+ Executive Condominiums (ECs) Launching in Singapore from 2023 to 2026

What is an Executive Condominium (EC)?

An Executive Condominium (EC) is a type of public housing in Singapore that is designed for middle-income families. ECs are typically developed by private developers and are sold at prices that are lower than comparable private condominiums. However, ECs come with certain restrictions, such as an income ceiling for buyers and a minimum occupation period of five years.

Why are ECs so popular?

ECs are popular among Singaporeans for a number of reasons. First, they offer a relatively affordable way to own a private property. Second, ECs are typically located in well-developed areas with good amenities. Third, ECs come with a number of attractive features, such as swimming pools, gyms, and clubhouses.

How much do ECs cost?

The prices of ECs vary depending on the location, size, and amenities of the development. However, the average price of an EC in Singapore is around S$1 million.

Who is eligible to buy an EC?

To be eligible to buy an EC, you must meet the following criteria:

• You must be a Singapore Citizen or Permanent Resident.
• Your monthly household income must not exceed S$16,000.
• You must have not owned any other private property in the past five years.

What are the restrictions on ECs?

ECs come with a number of restrictions, including:

• Income ceiling: The monthly household income of EC buyers must not exceed S$16,000.
• Minimum occupation period: EC buyers must occupy their units for a minimum of five years.
• Resale restrictions: ECs can only be resold to Singapore Citizens or Permanent Residents who meet the EC income ceiling.

8,000+ ECs Launching in Singapore from 2023 to 2026

The Singapore government has announced that it will be launching more than 8,000 ECs from 2023 to 2026. This is in response to the strong demand for ECs among Singaporeans.

The following table shows the number of ECs that are expected to be launched each year from 2023 to 2026:

Conclusion

ECs are a popular type of public housing in Singapore that offer a number of advantages, including affordability, location, and amenities. The Singapore government has announced that it will be launching more than 8,000 ECs from 2023 to 2026. This is in response to the strong demand for ECs among Singaporeans.

Frequently Asked Questions

Q: What is the difference between an EC and a private condominium?

A: ECs are a type of public housing that is developed by private developers. They are sold at prices that are lower than comparable private condominiums, but they come with certain restrictions, such as an income ceiling for buyers and a minimum occupation period of five years.

Q: Who is eligible to buy an EC?

A: To be eligible to buy an EC, you must be a Singapore Citizen or Permanent Resident, your monthly household income must not exceed S$16,000, and you must not have owned any other private property in the past five years.

Q: What are the restrictions on ECs?

A: ECs come with a number of restrictions, including an income ceiling for buyers, a minimum occupation period of five years, and resale restrictions.

Q: How much do ECs cost?

A: The prices of ECs vary depending on the location, size, and amenities of the development. However, the average price of an EC in Singapore is around S$1 million.

Q: Where can I find more information about ECs?

A: You can find more information about ECs on the website of the Housing and Development Board (HDB).