Most first time homeowners find buying an executive condo to be a rather lucrative deal. When you look at the different advertisement selling points, executive condos are portrayed as the perfect home for Singaporeans who earn too little to invest in a condo and too much to get HDB privileges.


To most homeowners, the executive condo is some sort of private-public hybrid housing situation where the price is essentially that of public houses but the comfort just as great as private condominiums.


When you are a Singaporean who can afford a tad bit more than an HBD, then Executive Condominiums are the best choice for you. However, there are those individuals that have enough finances to live in either an Executive condo or Private condo. This is where it gets a little tricky and making the choice can be rather difficult.


In this article, we are going to shed some light on which circumstances will call for you to consider an Executive condo over a private condo. This has been a tough question that has been affecting most Singaporeans for a while now and we can finally put the matter to rest.


Which type condo should I buy, will never be a question you will ask yourself once you go through this article.


Who can purchase an Executive Condominium?

You need to understand that not just anybody can buy an Executive Condominium and there are a ton of restrictions. Well, these restrictions ensure that not just everybody can apply and get these special pieces of infrastructure. Some of the restrictions are considered to be rather stringent simply because they disqualify a lot of candidates.

Let’s move forward and discuss the restrictions of buying an Executive Condo to see whether or not you qualify.


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Should you meet all of the following criteria, then you can apply.


  • You must be a citizen of Singapore
  • Your total household income should not exceed $14,000
  • Within the last 30 months, you should not have owned any piece of property overseas or locally, and you have no property currently

In the past, you should have owned at most one EC, DBSS, or HDB


In addition to the above requirements, you should also fall under at least one of the schemes below:

  • The public scheme: it allows you to apply with either your spouse (plus children), parents (plus siblings), or solely should you have custody of your children.
  • Fiance scheme: this allows you to apply with a fiancee should you have one.
  • Orphan scheme: you need to be an orphan and are applying together with a sibling.


  • You have to be at least 21 to apply under any of the listed schemes above.
  • When applying under the above schemes, your co-applicant has to wither a Singapore permanent resident or a Singapore citizen.


Should you check all the above boxes, then you can apply for an Executive Condominium. Be sure to check out the latest developments of Singapore Executive Condominiums like River cove Residences which launched in 2018.


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What is the agenda behind Executive Condominiums?


Understand that Executive condos are a rather new development project that started around the late 90s while private condos have grazed the Singapore landscape since the start of the 70s. From time in memorial, Singapore has always favored home ownership and considered it to be rather important. The middle class has been growing steadily over the years and the government needed to find appropriate housing to suit this population.

This is the whole reason for the development of Executive Condominiums which ensure that the proverbially sandwiched class can get fitting accommodations. Executive Condominiums are supposed to cater to the increasing upper-middle-class individuals in Singapore society.



When you ignore the public characteristics and rules regarding securing an Executive Condominium, it is itself identical to any other condominium. Executive condominiums are comfortable, elegant, and rich in amenities such as private parks, swimming pools, tennis courts, and around the clock security.



The major difference between private condos and executive condos is essentially the restrictions attached to executive condos. The private counterparts are not as restricted as the Executive Condominiums making them ideal for people who can afford them.


The restrictions around Executive Condominiums

When you look at it critically, executive condominiums were designed as homes and not investment options. Due to this interesting fact, you need to live in an executive condo for a minimum of five years before it can be sold off to the next person.

Even if you live in an executive condo for more than five years, it can only be sold to a Singapore permanent resident or a Singapore citizen. Although after ten years the Executive Condominium transforms into what is considered as a private condominium and can be sold to anyone interested.


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What makes Executive condos attractive?



When you are a first time home buyer, the price tag of Executive Condominiums just seems so fair and attractive. You get a cheap option but with all the comfort and amenities of the private condominiums that are rather pricey.

When you look into the current market, most homeowners start with executive condominiums before moving forward to buy private condominiums.


Prospects of increasing capital invested:

As stated earlier, after ten years an Executive Condominium immediately transforms into a private condominium. This means that buyers can increase their initial capital investment after ten years.

Currently, in Singapore, there is what is known as long-term property appreciation being experienced in the market. Generally, executive condominiums see more appreciation percentages when compared to private condominiums due to the public-to-private 10 year transition period.



Executive Condominiums have an attractive price and the prospect of a capital increase in 10 years making them the most suitable choice for most homeowners. Understand, however, that Executive Condominiums have a 99-year lease while the private condos are generally freehold.

The good news is that Singapore is still a very young country, and no property is even close to reaching the 99-year lease mark. You, therefore, need not start worrying about it too much. The difference between freehold and 99-year lease should not hinder your purchase of an Executive Condominium.


Schedule a FREE property consultation with Jyen Ke today!

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By |November 21st, 2019|Blog|0 Comments

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