Executive Condominiums (ECs) are a unique class of housing – they’re HDB properties for the first 10 years, and become fully privatised after that.
But can the profitability of ECs match up to those of private condos?
Let’s take a look at the figures over the last 10 years.
No ECs other than La Casa were completed (i.e. received Temporary Occupancy Permit) between 2008 to 2013. This is because the Design, Build, and Sell Scheme (DBSS) was meant to replace the EC scheme in 2008, and EC land sales were halted.
The policy later changed, with EC land sales resuming in 2010. DBSS was ultimately suspended in 2011, while the EC scheme survived.
Between 31st January 2010 to 31st January 2020 (the day this article was written), EC prices in Singapore have risen from $649 per square foot, to $932 per square foot – a 43.6 per cent