NEW Exec Condo (EC) LAUNCHES IN SINGAPORE

Are you searching for the latest new EC launch in Singapore? Visit the one-stop site which shows the latest EC in the Singapore property market!

Executive Condos are a hybrid of public and private housing and have grown popular in recent years. Like any other condos, Executive Condos are designed and built by private developers for people meeting the following EC Eligibility Criteria. (View Criteria). 

A minimum occupation period (MOP) of 5 years is applicable before it can be sold in the open market. Executive Condos can only be sold to foreigners after 10 years. 

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Due to avid demand for Executive Condos, HDB has introduced 3 measures on 9 Dec 2013, they are:
 

• 30% Mortgage Servicing Ratio (MSR) Cap

       - A buyer can only use a maximum of 30% of his / her monthly gross income to serve the EC            loan.
 

• Resale Levy for Second-Timer Applicants

       - All second-timer applicants who buy Executive Condo directly from a developer will have to           pay a resale levy depending on the 
       - Type of flat previously owned (Note: This is only applicable tyo Executive Condo projects                whereby the land site were purchased on or after 9 Dec 2013). 
 

• Reduced Executive Condo Cancellation Fees

       - Cancellation fees for Executive Condos has been reduced from 20% to 5% of the purchase            price.