One of the big decisions among first time home buyers is choosing between a private condominium or executive condominium. On the surface, there are few real differences – both are full suite condos (there’s a pool, BBQ pit, gym, etc.), and both are built and marketed by private developers.
However, there’s a big difference in terms of housing policy between the two; and even in the actual price:
So what is an EC?
Executive condos are a form of hybrid housing, partway between a private condo and public housing. It was introduced in 1996, with Eastvale being the first EC completed in January 1999, in Pasir Ris.
Executive condos count as HDB properties for the first 10 years, but are fully privatised afterward. This means the rules regarding HDB properties, such as the Minimum Occupancy Period (MOP), only apply for the first decade. Notably, this means that the Family Grant and Half-Housing Grant are available for executive condos during this period.
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