Singapore Executive Condo


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Frequent Asked Questions on Executive Condominium


Section C: General FAQs

  1.      How soon will I know whether my application to purchase an EC has been approved by HDB?

The current normal processing time to receive a feedback from HDB is within a month.   

You will be informed by the developer / booking agent if your application has been approved.  You will be notified thru your booking agent if additional supporting documents need to be submitted.   

As each cycle of review and approval takes about a month, it is important to submit the required documentations first time right to avoid anxiety/delay.


      2.    We are eligible for EC, should we buy an EC or a private condominium?

Read my thoughts on whether to buy a BTO, EC or private condo.

Between EC and private condo, EC would be a better choice.  For the same budget, you will be able to afford a bigger EC unit than a private condo.  For 1st timer, t he ‘cherry’ is there for you to pick, make use of the opportunity when you are still eligible to buy an EC.

There has been arguments that private condo is a better choice because there is no MOP requirement and you can get a bigger mortgage loan to buy a condo than an EC.  These are true but IMHO, 5 years is not a long wait and in current market condition, why take on more debt when you can avoid it.  Private condo would be choice if there is no EC in the vicinity that you like to setup your home.


3.    I am a current EC owner. What are my options after the MOP? 


Once your MOP is met, the available options are: 

a)     Continue to live in the EC unit. 

b)    Rent out the whole EC unit. 

c)     Sell off the EC unit.  

d)    Purchase another residential property.  

·         If it’s a HDB resale unit, you have to sell off your current EC unit. 

·         If it’s a private property, you don’t have to sell off your current EC unit. 

·         If you still eligible and want to purchase another new HDB BTO/EC unit, you must sell off our current unit first, wait for 30 months to lapse before you can apply for the next unit. In addition, the resale levy of $50,000 needs to be paid. 


  4.     When and where is the next new EC launch? 

  You can find out the next new launch from the ‘Upcoming EC’ section under the ‘List of EC’ tab. .  

To check where is the next EC launch; click on the respective  'Address' hyperlink.  From the same document, add 15 months to the site award date to get an estimation of the launch date.  In general, premarketing activities will start about 2-3 months ahead of the estimated launch date.    

The other way simplest way is to pre-register your interest with me.  I will keep you posted again nearer to the launch date. 

For 2nd timer applicant, you may want to take note that there are 5 more new launches (3 in Punggol/Sengkang, 1 each in Woodland and Jurong) before resale levy applies.   


   5.    I have done my IPA and there are few EC projects and units that are within my budget. Should I wait for the new launch
          that is coming up or just go ahead and choose from the available units since it will TOP earlier

You have your answer if you are able to proritise your needs with regards to your preferred location, amenities around, desired unit size, the unit orientation/facing, layout functionality, the project completion timing and pricing


While new launch will offer you a better choice of units, there are 2 salient points to note:

a) The wait for new launch may be a few months but the TOP difference may be 1 to 2 years.

b) With the 30% MSR impacting home mortgage, new launch EC unit is likely to be smaller in size.



   6.     In current marlet situation, will the new upcoming launch be more expensive than the existing ones?


IIt will be demand and supply that determines pricing trend.  Even if EC demand stay flats, prices will edge up steadily over time.  Pricing will head south if there is a major shock to the economy (whether internal or external) or new rules/regulations that affect demand.

Fundamentally, there is a positive correlation between the land bid price and selling price.  With creeping land bid price, inflation and increasing construction cost, it is not wrong to assume that the prices of new upcoming launches will be more expensive in a steady market condition.

Coming to the current market in 2Q14,

·         Since the implementation of the 30% MSR ruling in August 2013, potential buyers are finding it difficult to finance EC units that are priced 1 million and above.  

To counter this situation, EC developer is more likely to build more 2 and 3 bedroom units, and less 4 and 5 bedroom units. And to keep the price quantum and loan margin affordable, the size of each EC unit is also likely to get smaller.  Its a win-win situation for both, t o the consumer, prices will appear cheaper because the quantum is lower. On the other side, the developer is able to achieve a higher psf selling price.

  • In the private property market where current demand is weak, some developers are reducing pricing to move their units in projects that has been launched and/or pricing it attractively for new launch. 

Similarly to stay competitive, EC developer is likely to take a cut in their profit margin to maintain current new launch pricing (about $800 psf)  in spite of rising land bid, inflation and construction cost.  


   7.      I had an existing flat that has not been sold.  I already purchased an EC unit, am now waiting for TOP/key collection.
            It is better to sell now or wait till key collection?

You have 6 months to sell your existing flat after you collect the key to your new EC unit. Most of us do not want to step out of our comfort zone and will sell their existing flat only after collecting the key to the new unit.   

From 2011 till 2013, I had been advising my clients to sell their existing flat no later than 2013, even if they have not collected the key to their new EC unit. I foresee the abundance of resale unit coming into the market when the large supplies of BTO/DBSS/EC projects get completed in 2014/15.   

Is it the right time to sell now?  From my crystal ball, IMHO, the current resale market will get worse before it turns for the better and 2015 is likely to be the turning point.   

Why 2015? I do believe that the Government is keeping an eye on the next general election (latest by 2016) and the some of the ‘cooling’ measures can be relaxed/turned off and becomes ‘stimulating’ measures instead.    

So for those who will receive their key in 2014 and early 2015, it may be better to start marketing your unit as soon as possible. For those receiving their key in 2016 and thereafter, it may be better to wait for the election outcome and before deciding whether to sell before key collection.   

The above expressed are my crystal ball view in 2Q14, I shall not be held responsible for any financial loss as a result of my recommenation.   The final call as to when to sell is still yours to made. 




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"Thank you for patiently taking your time to show us the mock-up flats, explaining the orientation of the scale models and providing us with valuable insights into the project and financing options.

Both myself and my wife really appreciate your effort."

 -- Hairul

"Among the agents I have come across so far, you are one of those few whom I feel at ease and comfortable speaking to. This is my frank and sincere opinion.   You truly live up to your words “Honesty and Integrity”

-- Chee Kin

"Thanks for your very kind and helpful adivce.  The testimonials were very true indeed. Another agent from xxxx is trying to make me appoint him as sole agent for EC, but did nothing much to advise like you did.  I really appreciate it"

-- J Ong

From a satisfied client who was referred by his friend. 
Read full transcript

"He gave us good advice based on our requirements. ....
He paid details to every single stage of the process and returned all phone calls, texts and emails the same day.  We never felt neglected or unimportant."

-- Sean Lee








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