Executive condominiums (EC) have always been a popular form of hybrid public and private housing since the first was launched in 2017.
The main reason is because of its discounted price compared to private condominiums, but its “status” one step up compared to HDB flats.
This article will go introduce to you the ECs that are reaching their minimum occupation period (MOP) in 2021.
When an EC reaches its MOP mark, which is 5 years after the Temporary Occupation Period (TOP) date (TOP is also the time when a buyer collects his key from the developer), it can be sold to Singaporeans and PRs in the open market.
The unit cannot be sold to foreigners yet. It can only be sold to foreigners at the 10 year mark, when the status of the EC is converted into a private condominium.
After the 5 year mark, the unit can also be rented out as one whole unit.