Important Points to Take Note for EC Singapore Home Owners & Buyers

Updated: Jan 9, 2019



Executive Condo in Singapore


As property prices rose sharply for the past years, Executive Condo Singapore has become a very popular choice among families who aspire to have a better standard of living. Executive condos are a hybrid type of housing that fall between public and private housing. EC Singapore looks like private condo with guarded security, swimming pool, playground, gym, BBQ pits etc. They are sold to home buyers at a cheaper price as its is subsidized by the government.


Like HDB, there is a minimum occupancy period (MOP) of five years for EC new condo launch Singapore bought from developer, which means the unit cannot be sold or rented out as whole unit during this period. After five years, it can be sold to Singaporeans (SCs) or Singaporean Permanent Residents (SPRs). After ten years, the unit can then be sold to foreigners, which is pretty similar to a full fledged condo.


Though ECs follow HDB guidelines, home owners are not eligible for HDB loans. When taking up bank loans for EC Singapore financing, home buyers need to fulfil on HDB loan criteria such as MSR (Mortgage Servicing Ratio), whereby the amount required to service the monthly instalment cannot exceed more than 30% of the borrower’s monthly income. TDSR (Total Debt Servicing Ratio) is the next MAS guideline whereby the borrower’s total debt with the banks cannot be more than 60% of their monthly income.


Get in touch with any of our dedicated mortgage advisory consultant. He/she will be able to assist in your home loan eligibility assessment. On top of that, he/she would be able to analyse and compare 60 different home loan packages from 16 banks in Singapore.

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