It staged a strong comeback after the last launch in 2004. Since then, supply is set to double and more. The total EC units under construction including recent land sales, launched in less than 2 years, is now about the same as the existing completed supply, where it took over 10 years to sell and build. 

An Executive Condominium (EC) is essentially a hybrid between a private property and a HDB flat. New units come with ownership and resale restrictions such as a household income of not more than $12,000 and a Minimum Occupation Period (MOP) of five years. During the 6th to 10th year after completion, units can be sold to Singaporeans or PRs with no family nucleus requirements (Partially Privatised). After 10 years, all restrictions are lifted (Privatised). On the positive side, buyers are eligible to certain grants.

 

Against this backdrop, new EC units are currently sold at about 20-30% discount compared to nearby new private properties. We expect the discount to start narrowing once the units are allowed to be sold after the 5-year MOP, and eventually priced like private properties once they cross the first 10-year period. See two examples below where this is true. We have picked a pair of properties (one EC and one private property) in each case with the same tenure, same completion date, and approximately the same distance away from the area's main amenity, the MRT station.

While an EC might be a good option for genuine owner-occupied buyers who are prepared to stay for at least 5 years, do take note that generally, the construction cost (may reflect the quality of the project) for an EC tends to be 20% lower than that of a private property.

A list of all the ECs is given below. More than half of the completed ECs have been fully privatised. Most of the other half are in their 6th to 10th year. La Casa remains the only EC currently that has yet to cross the initial 5-year MOP. This is due to a vacuum period of about 6 years (2004 - 2010) with no new EC developments. The priciest EC is Bishan Loft, where units have crossed the $1,000 psf mark.

 

 

AVERAGE PRICES AND RENTS OF EXECUTIVE CONDOMINIUMS

 

Note: *Prices and rentals are based on data in the past 6 months. 
Source: www.squarefoot.com.sg
MARKERPROJECTTENURECOMPLETIONLOWEST PRICE* 
($PSF)		AVERAGE PRICE* 
($PSF)		HIGHEST PRICE* 
($PSF)		LOWEST RENTAL* 
($PSF PM)		AVERAGE RENTAL* 
($PSF PM)		HIGHEST RENTAL* 
($PSF PM)
EASTVALE 99 YRS FROM 1996 JAN 1999 812 874 912 0.9 2.8 4.4
WESTMERE 99 YRS FROM 1996 FEB 1999 861 861 861 1.6 2.7 3.3
CHESTERVALE 99 YRS FROM 1997 MAR 1999 633 710 754 2.0 2.1 2.2
SIMEI GREEN CONDOMINIUM 99 YRS FROM 1996 APR 1999 692 829 955 2.2 2.9 3.6
PINEVALE 99 YRS FROM 1997 JUL 1999 706 771 812 2.1 2.5 2.9
WINDERMERE 99 YRS FROM 1997 SEP 1999 673 686 718 2.1 2.4 2.6
THE FLORIDA 99 YRS FROM 1997 FEB 2000 690 782 843 2.3 2.6 3.0
THE RIVERVALE 99 YRS FROM 1997 JUN 2000 720 795 873 2.2 2.5 3.0
WOODSVALE 99 YRS FROM 1997 AUG 2000 678 704 729 2.0 2.4 3.5
YEW MEI GREEN 99 YRS FROM 1997 SEP 2000 697 760 787 1.9 2.5 3.1
SUMMERDALE 99 YRS FROM 1997 SEP 2000 784 796 818 2.3 2.8 3.3
NORTHOAKS 99 YRS FROM 1997 OCT 2000 507 705 754 2.2 2.4 2.9
THE FLORAVALE 99 YRS FROM 1997 OCT 2000 631 734 817 2.2 2.6 3.3
LILYDALE 99 YRS FROM 2000 MAR 2003 703 741 774 2.5 2.7 3.0
THE EDEN AT TAMPINES 99 YRS FROM 2000 APR 2003 762 837 937 2.3 2.8 3.5
THE DEW 99 YRS FROM 2000 JUL 2003 821 906 1,008 2.6 2.8 3.0
BISHAN LOFT 99 YRS FROM 2000 SEP 2003 1,085 1,130 1,198 3.1 3.5 4.3
NUOVO 99 YRS FROM 2001 AUG 2004 897 948 1,054 2.7 2.9 3.4
PARK GREEN 99 YRS FROM 2001 SEP 2004 800 844 929 2.7 2.9 3.0
WHITEWATER 99 YRS FROM 2002 JAN 2005 782 838 908 2.5 2.8 3.2
THE ESPARIS 99 YRS FROM 2002 JUN 2005 801 815 828 2.2 2.6 2.9
THE QUINTET 99 YRS FROM 2003 OCT 2006 707 834 890 2.4 2.6 3.1
THE QUINTET 99 YRS FROM 2003 OCT 2006 - - - - - -
LA CASA 99 YRS FROM 2004 FEB 2008 736 805 905 2.0 2.7 3.2
ESPARINA RESIDENCES 99 YRS FROM 2010 UNCOMPLETED 864 878 891 - - -
THE CANOPY 99 YRS FROM 2010 UNCOMPLETED 697 703 709 - - -
PRIVE 99 YRS FROM 2010 UNCOMPLETED 779 802 825 - - -
AUSTVILLE RESIDENCES 99 YRS FROM 2010 UNCOMPLETED - - - - - -
BELYSA 99 YRS FROM 2011 UNCOMPLETED - - - - - -
RIVERPARC RESIDENCE 99 YRS FROM 2010 UNCOMPLETED - - - - - -
BLOSSOM RESIDENCES 99 YRS FROM 2011 UNCOMPLETED - - - - - -
ARC AT TAMPINES 99 YRS FROM 2011 UNCOMPLETED 741 783 868 - - -
THE TAMPINES TRILLIANT 99 YRS FROM 2011 UNCOMPLETED 665 769 852 - - -
THE RAINFOREST 99 YRS FROM 2011 UNCOMPLETED - - - - - -
WATERBAY 99 YRS FROM 2012 UNCOMPLETED 556 721 794 - - -
TWIN WATERFALLS 99 YRS FROM 2011 UNCOMPLETED 665 754 836 - - -
1 CANBERRA 99 YRS FROM 2012 UNCOMPLETED 567 719 791 - - -
WATERCOLOURS 99 YRS FROM 2012 UNCOMPLETED 588 728 804 - - -
HERON BAY 99 YRS FROM 2012 UNCOMPLETED 608 727 800 - - -
THE TOPIARY 99 YRS FROM 2012 UNCOMPLETED 613 731 821 - - -
CITYLIFE@TAMPINES> 99 YRS FROM 2012 UNCOMPLETED 470 796 930 - - -
TWIN FOUNTAINS 99 YRS FROM 2012 UNCOMPLETED 665 742 809 - - -
FORESTVILLE 99 YRS FROM 2012 UNCOMPLETED 608 733 802 - - -
LUSH ACRES 99 YRS FROM 2013 UNCOMPLETED 800 800 800 - - -
ECOPOLITAN 99 YRS FROM 2012 UNCOMPLETED 790 793 796 - - -