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ECs nearing 5-year MOP or 10-year privatisation: eligibility, price and should you buy?

·9-min read

If you’re in the market for an executive condominium, but unable to apply for one at launch, it could be due to several reasons. Usually, it’s tied to your citizenship status, age or household income, but there are a few more reasons that may restrict you from buying directly from a developer at launch.

Reasons why you may not be able to apply for an EC at launch

  • Neither you nor your spouse/significant other/sibling is Singaporean. This applies to singles too (who are applying under the Joint Singles Scheme).

  • Neither of you is 21 years old and above. If you’re applying as a single, you’re not at least 35 years old yet.

  • Your monthly household income exceeds S$16,000.

  • Either one of you owns private residential property (local or overseas) or has disposed of private property in the last 30 months.

  • You have bought 2 subsidised housing in Singapore before.

  • You have an interest in an HDB flat and are unable to dispose of this interest within 6 months of completing the EC purchase (a possible reason is that the HDB flat is co-owned with your parent)

  • You are an undischarged bankrupt who is unable to obtain prior consent from the Official Assignee (OA) or private trustee

  • You have previously booked a flat and cancelled your booking, so you’re now in a 1-year waiting period before you can apply

  • You have previously bought an EC but subsequently terminated the Sale and Purchase Agreement, so you’re now in a 5-year waiting period

Resale ECs are a good deal
Resale ECs are a good deal

More often than not, couples and singles would then consider a private condo if new launch EC eligibility is unattainable. Alternatively, they can consider a resale EC after its 5-year Minimum Occupation Period (MOP). If you’re a foreigner, then that option opens up after the EC passes its 10th year (which is when it becomes private).

Eligibility conditions to buy a resale EC (after its 5-year MOP)

  • You and your spouse/significant other are either Singaporean or a Singapore Permanent Resident. Both of you must be at least 21 years old and above.

  • If you’re buying as a single, you need to be either Singaporean or PR and be at least 21 years old.

  • There is no monthly household income ceiling, but there is the Total Debt Servicing Ratio (TDSR), which is 55% of your monthly income.

  • You can own other private residential property if you’re buying a resale EC.

  • If you’re a Singaporean and you already own an HDB flat that has completed its MOP, you can buy a resale EC without needing to dispose of your HDB flat. If you’re PR, then you must dispose of the HDB flat within 6 months of buying the resale EC.

prive executive condo ec punggol
prive executive condo ec punggol

Note that with resale EC, you will not be eligible for CPF housing grants. If you intend to get a housing loan, you can only apply via a bank, subject to approval and regulations. If you own more than one property in Singapore, Additional Buyer’s Stamp Duty (ABSD) will apply. There is also no MOP applicable after the initial 5-year MOP for ECs.

Here are some Executive Condominiums which are nearing or have recently completed their 5-year MOPs:

EC Name

District

Location

Project Size

Bedrooms

TOP

The Terrace

19

92 Edgedale Plains

747

3, 4 and 5

2017

Bellewoods

25

116 Woodlands Avenue 5

561

2, 3, 4 and 5

2017

Signature At Yishun

27

37 Yishun Street 51

525

2, 3 and 4

2017

The Vales

19

75 Anchorvale Crescent

517

2, 3, 4 and 5

2017

Bellewaters

19

11 Anchorvale Crescent

651

3, 4 and 5

2017

Westwood Residences

22

180 Westwood Avenue

480

2, 3, 4 and 5

2017

The Brownstone

27

158 Canberra Drive

638

2, 3, 4 and 5

2017

The Criterion

27

17 Yishun Street 51

505

2, 3, 4 and 5

2018

Wandervale

23

349 Choa Chu Kang Avenue 3

534

3 and 4

2018

Parc Life

27

39 Sembawang Crescent

628

2, 3, 4 and 5

2018

Sol Acres

23

16 Choa Chu Kang Grove

1,327

1, 2, 3, 4 and 5

2018

The Visionaire

27

196 Canberra Drive

632

2, 3 and 4

2018

Treasure Crest

19

66 Anchorvale Crescent

504

3 and 4

2018

PSF Price Performance of ECs after hitting their 5-year MOP

What’s interesting is how the per-square-foot prices of ECs surge in the years following their 5-year MOP.

Taking a leaf from ECs which TOPed in 2014 and MOPed in 2019, it’s clear that besides greater volume transactions, there would be higher psf price appreciation as well.

The apartments for four ECs below – Belysa, Riverparc Residence, The Canopy and Arc At Tampines – all TOPed in 2014 and mostly MOPed in 2019. Their trend chart shows average psf price increased between 9.07% and 22.57% within the past three to four years of fulfilling their MOPs.

EC nearing 5-year MOP in 2019
EC nearing 5-year MOP in 2019

So don’t be surprised when newly MOPed ECs follow the same trend as well.

ECs already at or nearing 5-year MOP for sale to Singaporeans and PRs

See all listings

The Terrace Photo
The Terrace Photo

The Terrace

84 Edgedale Plains · D19

bedroom
bedroom

4

bathroom
bathroom

3

1,313 sqft

$1,750,000

The Vales Photo
The Vales Photo

The Vales

85 Anchorvale Cres · D19

bedroom
bedroom

3

bathroom
bathroom

2

905 sqft

$1,230,000

Treasure Crest Photo
Treasure Crest Photo

Treasure Crest

62 Anchorvale Cres · D19

bedroom
bedroom

3

bathroom
bathroom

2

958 sqft

$1,100,000

The Terrace Photo
The Terrace Photo

The Terrace

100 Edgedale Plains · D19

bedroom
bedroom

3

bathroom
bathroom

3

1,076 sqft

$1,380,000

Bellewaters Photo
Bellewaters Photo

Bellewaters

23 Anchorvale Cres · D19

bedroom
bedroom

3

bathroom
bathroom

3

1,087 sqft

$1,360,000

Bellewoods Photo
Bellewoods Photo

Bellewoods

120 Woodlands Ave 5 · D25

bedroom
bedroom

3

bathroom
bathroom

3

1,066 sqft

$1,288,000

Signature At Yishun Photo
Signature At Yishun Photo

Signature At Yishun

41 Yishun St 51 · D27

bedroom
bedroom

3

bathroom
bathroom

2

947 sqft

$1,118,888

Bellewoods Photo
Bellewoods Photo

Bellewoods

118 Woodlands Ave 5 · D25

bedroom
bedroom

4

bathroom
bathroom

3

1,152 sqft

$1,388,888

The Visionaire Photo
The Visionaire Photo

The Visionaire

194 Canberra Dr · D27

bedroom
bedroom

3

bathroom
bathroom

2

947 sqft

$1,050,000

Signature At Yishun Photo
Signature At Yishun Photo

Signature At Yishun

27 Yishun St 51 · D27

bedroom
bedroom

2

bathroom
bathroom

2

947 sqft

$1,188,000


Privatised ECs

If you’re a foreigner (non-Singaporean/PR), then you can consider buying a resale EC when it gets privatised after its 10th year. While there isn’t any development we know of which will be privatised this year, there are a few planned in 2024 and 2025.

If you’re a Singaporean or PR thinking of buying a resale EC, some of these might appeal to you. Furthermore, when the development becomes privatised in 2-3 years’ time, you will then be able to resell these units to a broader market as there may be potential demand from foreign buyers as well.

Here is the list:

EC Name

District

Location

Project Size

Bedrooms

TOP

Privé

19

35 Punggol Field

680

2, 3 and 4

2013

Esparina Residences

19

121 Compassvale Bow

573

2, 3 and 4

2013

The Canopy

27

83 Yishun Avenue 11

406

2, 3 and 4

2014

Austville Residences

19

15 Sengkang East Avenue

540

2, 3 and 4

2014

Belysa

18

59 Pasir Ris Drive 1

315

3 and 4

2014

RiverParc Residence

19

104 Punggol Drive

504

2, 3 and 4

2014

Blossom Residences

23

30 Segar Road

602

2, 3 and 4

2014

Arc at Tampines

18

21 Tampines Avenue 8

574

2, 3 and 4

2014

WaterColours

18

21 Pasir Ris Link

416

2, 3 and 4

2014

Similarly, for ECs which were privatised, most showed significant psf price appreciation (and volume) after 10 years. The three ECs below – The Esparis (TOP in 2005, privatised 2016), The Quintet (TOP in 2006, privatised 2017) and La Casa (TOP 2008, privatised 2019) – show double-digit appreciation in average psf prices since being privatised.

The Esparis, a small development of 274 units in Pasir Ris, showed a 16.94% appreciation over the last six years of privatisation. The Quintet, a mid-sized condo of 459 units at Choa Chu Kang, has a 16.19% average psf price appreciation over the past five years of privatisation. Finally, La Casa, a medium-sized condo of 444 units at Woodlands, saw a 14.52% appreciation since going private in 2019.

 

EC nearing 10-year privatisation in 2015 onwards
EC nearing 10-year privatisation in 2015 onwards

While it is common for us to often compare psf prices and volume transactions between ECs and private condos, we should note that ECs have three distinct life-cycle events in their first decade:

  • When they first launch

  • After their 5-year MOP and

  • When they go private after 10 years

Whether you’re a new launch EC homeowner or investor, or someone buying a resale EC, knowing these life-cycle events can be insightful, especially when deciding when to buy and when to sell – subject to your eligibility of course.

If you’re eligible for a new launch EC, check these out instead:


ECs nearing 10-year privatisation (ie. available for sale to everyone including foreigners)

See all listings

Arc At Tampines Photo
Arc At Tampines Photo

Arc At Tampines

15 Tampines Ave 8 · D18

bedroom
bedroom

3

bathroom
bathroom

2

1,076 sqft

$1,250,000

Riverparc Residence Photo
Riverparc Residence Photo

Riverparc Residence

102 Punggol Dr · D19

bedroom
bedroom

3

bathroom
bathroom

2

1,076 sqft

$1,380,000

Arc At Tampines Photo
Arc At Tampines Photo

Arc At Tampines

23 Tampines Ave 8 · D18

bedroom
bedroom

2

bathroom
bathroom

2

797 sqft

$900,000

Blossom Residences Photo
Blossom Residences Photo

Blossom Residences

32 Segar Rd · D23

bedroom
bedroom

4

bathroom
bathroom

3

1,249 sqft

$1,600,000

Watercolours Photo
Watercolours Photo

Watercolours

31 Pasir Ris Link · D18

bedroom
bedroom

4

bathroom
bathroom

3

1,238 sqft

$1,408,888

Blossom Residences Photo
Blossom Residences Photo

Blossom Residences

34 Segar Rd · D23

bedroom
bedroom

4

bathroom
bathroom

3

1,249 sqft

$1,680,000

Arc At Tampines Photo
Arc At Tampines Photo

Arc At Tampines

17 Tampines Ave 8 · D18

bedroom
bedroom

4

bathroom
bathroom

3

1,876 sqft

$1,999,999

Watercolours Photo
Watercolours Photo

Watercolours

25 Pasir Ris Link · D18

bedroom
bedroom

4

bathroom
bathroom

3

1,378 sqft

$1,400,000

Esparina Residences Photo
Esparina Residences Photo

Esparina Residences

111 Compassvale Bow · D19

bedroom
bedroom

2

bathroom
bathroom

2

829 sqft

$1,180,000

Esparina Residences Photo
Esparina Residences Photo

Esparina Residences

111 Compassvale Bow · D19

bedroom
bedroom

2

bathroom
bathroom

2

829 sqft

$1,180,000


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If you found this article helpful, 99.co recommends Has the price gap between private and executive condominiums changed? and Buying resale EC vs new launch: The key differences you need to know.

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