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 exceeding $12,000 and a minimum occupation period (MOP) of 5 years. After 5 years and before the 10th year, units can be sold to Singaporeans or PRs with no family nucleus requirements (Partiallt Privatised).After 10 years , all restrictions are lifted (Privatised).
New Executive Condominiums are currently sold 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 crossed the first 10-year period.
While an Executive Condominium 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 Executive Condominium tends to be 20-30% lower than that of a private property.