After five years of ownership, an Executive Condominium (EC) in Singapore transitions from being available only to singles or married couples to being sellable to all eligible buyers. This change reflects a policy shift by the government, which allows for greater market flexibility and catering to the evolving needs of homeowners. Once an EC reaches this five-year mark, it is no longer subject to the Original Housing Grant (OHG) or Additional Housing Grant (AHG), and the units within can be sold to open market buyers. This transformation makes the EC more accessible and attractive to a wider range of potential buyers who may not have initially qualified for an EC due to income restrictions. Understanding these dynamics is crucial for homeowners considering an EC as their first home, as it offers both the benefits of a subsidized flat and the versatility of a market-ready property later on.
Exploring the long-term value proposition of Executive Condos (ECs) in Singapore’s housing market, this article unravels the benefits and considerations of opting for an EC under the Build-To-Order (BTO) scheme, particularly focusing on what an EC could offer after five years. Join us as we delve into the unique aspects of these residences and their potential to serve as a smart housing choice for eligible applicants.