Origin of Executive Condominium
The history of Executive Condominiums (ECs) in Singapore dates back to the 1990s when the government introduced this housing concept as a hybrid between public and private housing. The primary aim was to cater to the housing needs of the “sandwich class” — families whose incomes exceeded the ceiling for public housing (HDB flats) but were not high enough to afford private condominiums.
Here’s a brief overview of the history of Executive Condominiums:
1. Introduction in the 1990s:
The concept of Executive Condominiums was introduced in the early 1990s to address the housing needs of a growing middle-income population in Singapore.
Through the Housing and Development Board (HDB), the government played a significant role in the development of ECs.
2. Government Guidelines:
The development and sale of ECs are subject to strict guidelines set by the government to ensure they serve their intended purpose.
These guidelines include eligibility criteria for buyers, restrictions on the resale of units during the initial years, and a Minimum Occupation Period (MOP) during which owners are not allowed to sell or rent out the entire unit.
3. Public-Private Partnership:
ECs are typically developed through a public-private partnership model. Private developers are involved in the construction, and the government provides the land at a subsidized rate.
4. Evolution of Design and Amenities:
Over the years, the design and amenities of ECs have evolved to be comparable to private condominiums, providing residents with a comfortable and modern living experience.
5. Changes in Eligibility Criteria:
The government has made adjustments to the eligibility criteria over time, allowing a wider range of families to qualify for EC ownership.
6. CPF Housing Grants:
The introduction of Central Provident Fund (CPF) Housing Grants for EC buyers has been one of the initiatives to make ECs more affordable for eligible Singaporean citizens.
7. Market Performance:
ECs have generally performed well in the property market, and the resale market for EC units can be active after the Minimum Occupation Period is completed.
8. Policy Adjustments:
The government periodically reviews and adjusts policies related to ECs based on the prevailing economic and housing conditions.
Government Land Sale (EC)
(Updated on 1 Dec 2023)
|Jalan Loyang Besar
|Tampines St 95
Current EC in the market
(Updated on 1 Dec 2023)
|Land Price (psf)
|Tampines St 62 Parcel B
|Bukit Batok West Ave 5
|Preview from 12 Jan 2024
|Bukit Batok West Ave 8
|Yishun Ave 9