♣EC Projects On The Move♣
5 Apr, 2020: Parc Canberra sold #02-32, #08-30
4 Apr, 2020: Parc Canberra sold #09-07,
1 Apr, 2020: Parc Canberra sold #02-19.
31 Mar, 2020: OLA sold #13-08.
30 Mar, 2020: OLA sold #08-26. Piermont Grand sold #15-51.
29 Mar, 2020: Parc Canberra sold #13-38. OLA sold #11-06, #13-11, #09-17, #03-20, #06-22, #08-27. Piermont Grand sold #14-33.
Executive Condominium (EC) projects are all located outside of central region and amidst HDB home towns to cater to the condo lifestyle for middle-income Singaporean family (i.e. gross household income <=$16,000). That is to say, you can find EC developments for sale in Jurong West, Bukit Batok, Choa Chu Kang, Bukit Panjang, Woodlands, Sembawang, Yishun, Sengkang, Punggol, Pasir Ris and Tampines.
[table id=3 /]There are around 12 EC projects which have 50 and more balance units for sale by the time of writing. 2016 witness the highest developer sales since 2014. In 2016, developers sold 12,408 new private homes – including EC units, a 21.7 % increase from the 10,199 units sold the previous year, and 7,437 units sold in 2014.
Developers sold over 4,000 EC units, which were the significant driving force behind new home sales in 2016, real estate agency company PropNex said. Excluding ECs, there were 8,364 new units sold last year – slightly higher than the 7,625 units sold in 2015 and 7,437 units sold in 2014.
Source: The Straits Times (17 January 2017) and Channel New Asia (16 January 2017).
Should you buy EC project?
Executive Condominium (EC) project is a privilege for eligible Singaporean family to cater to their aspirations of brand-new condo lifestyle at budget-friendly price which is usually 20% ~ 40% less than the comparable private condominium project. The advantage of lower entry price for EC project is thanks to the subsidized land cost and purchase restrictions. Read more here about why should you consider EC if you are still eligible.
Are you qualified to buy EC?
EC is a hybrid HDB and private housing scheme subject to HDB regulation when buy it from developer. There are some restrictions similar to buying BTO flat that potential buyers must fulfill which include citizenship, age, family nucleus, income ceiling, household status, property ownership, time bar and so on. Not all buyers are qualified, only a group of buyers are eligible to enjoy such privileges. it’s perhaps the best way to own up-to-date condominium lifestyle but affordable price. Read more here about EC eligibility conditions.
How to apply EC?
The purchase of new EC project is subject to HDB eligibility checkup and approval. With those important documents submitted to developer and HDB board, EC applicants will be assessed by HDB eligibility conditions and finally get approval from the authority. Because of this, each group of buyers have their own timeline. Thus it’s not surprise that some buyers have paid off their down payment for weeks but another group of buyers are still pending for HDB approval even they booked units on the same day. Read more here.
Am I affordable?
As EC project sell higher price as compared to the past 5 year new launches, and also given the TDSR and MSR reguations in the place, it’s important to understand your finance status before commit to any EC unit. buyers are requested to obtain loans from local banks as HDB Board does not provide loans for purchase of EC home. Thus before booking an EC unit, you should approach the banks to assess the loan you can acquire. With the loan amount to granted in mind, you will feel more comfortable how much cash and CPF savings will be set aside for EC purchase. Proper EC financing will give you advantage to make commitment on the spot where there is any suitable unit.
Visit EC Showflat
If you plan to visit showflat, kindly please book an appointment with our Developer Sale Representative before you come down because our showflat may close sometime for important maintenance or company events. By pre-appointment, you will save your precise time and avoid the incomvenience. What’s more, you will be informed with developer direct selling prices and balance units available for your choice. Visitors who have made an appointment with us will be professionally served by our Developer Sale Representative and there is no additional registration required at the reception counter in the showflat, and no service fee is to be charged too if you book some choice unit later on.
Review the past major EC Projects in the Market for the past 5 years
EC development is a unique hybrid housing scheme for eligible Singaporean family to buy condominiums at affordable price. Comparable in design and facilities to private condominiums, EC units are meant for middle-class Singaporeans who can afford more than an HDB flat but find private property out of their reach.
The government will continue the scheme, saying that it is still a “relevant” and “market friendly” way of allowing “sandwiched” class to benefit from the EC project. As former National Development Minister Khaw Boon Wan likened the EC scheme to offering buyers an upmarket Lexus car at the much lower price of a Toyota Corolla.
The government have worked out a series of regulations to promote the healthy continuity of EC housing scheme. Developers offer very market-friendly and affordable EC projects with up-to-date design, condo facilities and quality finishes for qualifying buyers. Here are a group of popular EC developments for sale in the market for your reference.
Westwood Residences
Westwood Avenue
Westwood Residences in Jurong
- First bicycle-themed EC
- Jurong Innovation District
- Access to Jurong Regional Line
- Limited EC Supply in Jurong
- Exciting Jurong Transformation
- TOP expected in 2017
Sol Acres
Choa Chu Kang Grove
Sol Acres in Choa Chu Kang
- Largest EC in Singapore
- Most beautiful landscape
- 1,324 units across 13 blocks
- Many fantastic facilities
- Short walk to 2 LRT Stations
- 10 minutes ride to 2 MRT Stations
Northwave
Woodlands View
Northwave EC in Woodlands
- 358 units + basement carpark
- 1st air-con Badminton Hall in EC
- 5 bedrooms and Penthouses
- Next to North South Corridor
- Near Woodlands Regional Centre
- Very affordable EC project
The Visionaire
Canberra Drive
The Visionaire EC in Sembawang
- Walk to Canberra MRT Station
- 1st smart home design in EC
- Flexible design, spacious layout
- Beautiful central landscape
- Private residential estate
- Enrichment courses
Bellewoods
Westwood Avenue 5
Bellewoods EC in Woodlands
- Forest-themed EC
- Near 2 major MRT lines
- Access to 2 Expressways
- Woodlands Transformation
- No Resale Levy
- TOP expected in 2017
The Brownstone
Canberra Drive
The Brownstone in Sembawang
- Really near Canberra MRT
- Luxury by City Developments
- 628 units on 307,452 sqft land
- Quality finishes and facilities
- Unique Jetty Balcony
- Amid private residential estate
The Criterion
Yishun Street 51
The Criterion EC in Yishun
- Near reservoir and golf course
- Flexible layout, finishes
- Luxurious EC by CDL
- Exciting facilities
- Quality interior finishes
- Shuttle bus to Yishun MRT
The Vales
Anchorvale Crescent
The Vales EC in Sengkang
- Short walk to Sengkang MRT
- Within Sengkang Town Central
- Next door to LRT Station
- Quick access to expressway
- Near reputable schools
- Abundant amenities
Almost everyday several qualified buyers book EC new homes!
Upcoming EC projects
Get information about upcoming EC developments which you may feel interested to inquire in the coming months. The Government has restarted the EC housing scheme since 2010 because it still make sense for middle-class Singaporean family. With the pipeline of government land for EC development continues, there are some new EC projects to be launched this year of 2020.
- EC development at Tampines Ave 10, to be launched in the second half of 2020.
- EC development at Canberra Link, to be launched in the first half of 2021.