Price Gap between EC and Private Condo


BelleWatersExecutive Condominiums(ECs)

New Executive condominiums (ECs) and private condos is widening as rising Condo prices had increase more than the ly steady pricing of its public-private counterpart since 2011.

According to a study by STProperty, buyers who bought an EC this year would have saved 31.7 per cent on average over purchasing a private home from developers. This is higher than the 23.1 per cent savings EC buyers would have enjoyed in 2011. This makes ECs a good value proposition to the aspiring sandwiched class who do not qualify for public housing but can ill-afford private condos, STProperty says.

 

However, we also need to know what is the catch behind these differences:-

1. EC buyers have to live in premises during the first 5 years; ( Minimum Occupation Period – MOP) before you are allowed to sell them in the open market;

2. You are also not allowed to rent out the whole unit during the same period as per HDB regulation;

3. Upon complying the 5 years minimum occupation period, you are only allowed to sell them to local Singaporeans or Permanent Residences only. All restrictions will only be lifted after 10 years.