Executive Condo Vs Private – 10 Absolute Differences To Blow Your Mind

Executive condominiums (EC) and private condominiums are all the talk right now.

HDB Executive condos are an upgrade from their regular HDB flat counterparts.

And when compared to private condos, ECs do have the appeal of a lower price tag.

Offering the same deals of luxury and city living, what is the difference between EC and Condo?

To the average home-buyer, deciding between a private condo or an EC can be confusing.

If you’re one of those home-buyers who is caught up in this situation, here is what you need to know.

An HDB executive condominium is often referred to as an EC condo for short.

It is a type of housing that is exclusive and favored only in Singapore.

Sources state that it is a hybrid of both public-private housing, and was first introduced in 1997.

They have the convenience and features of a private condo such as a pool, security, clubhouses, tennis court, security, etc.

But they are restricted by rules and regulations mandated by the government.

The executive condo is usually catered to middle-income Singaporeans, especially young couples and professionals.

For the most part, they don’t qualify for an HDB flat due to their high-income ceiling but are not yet able to afford private condos.

Executive Condos are built and sold by private developers but are subsidized by the government.

This means that while it has comparable amenities to a private condo, it is sold at a lower price.

An executive condo is a good option for buyers who wish to enjoy the amenities of a private condo but has budget restrictions.

A private condominium is often shortened to the term: condo.

It is a form of housing where the owners own strata land while the developer retains the overall ownership of the land.

This makes it possible for the developer to build common amenities shared among other residents.

The usual facilities for a private condo include the swimming pool, gym, fitness corner, BBQ pits, etc.

Living in a private condominium does provide a sense of exclusivity as compared to the usual HDB flats.

Executive Condos (EC) are built to satisfy the needs of many “sandwich” class citizens. A sandwich class is a generation of people usually in their 30s or 40s.

They are typically responsible for bringing up and caring for both their children and aging parents.

It is catered for those earning above the eligibility of regular HDB flats but not enough to purchase a private condo.

Additionally, ECs are subsidized by the government and you have to meet certain criteria to buy.

On the other hand, private condos are built with minimal to no restrictions and rules.

It is the epitome of current, modern-day living. They are usually located in prime districts and are very convenient.

Private condos are usually near schools, business centers, parks, tourist attractions, shopping malls, financial hubs, etc.

They are more affordable as compared to other private properties; landed houses, for example, make them a popular buy.

To make this easier to understand, here’s a comparison between ECs and Condos.

Housing Type	Executive Condo (EC)	Private Condo
Eligibility	Usual facilities include: swimming pools, parks, landscaped gardens, a tennis court, fitness gym, function rooms, and bbq pits	– NO eligibility conditions and anyone can apply. – NOT eligible for CPF housing grants.
Floor Area	ECs are known to be more generous with their floor area.	Condos being private projects, tend to have a smaller floor area
Facilities	Facilities are comparable to private condos	Usual facilities include: swimming pools, parks, landscaped gardens, a tennis court, a fitness gym, function rooms, and bbq pits
Minimum Occupancy Period (MOC)	5 years before house owners can rent out or sell their unit	Doesn’t apply to condo residents
Restrictions for Ownership	– Owners of EC are only allowed to sell their units to Singapore citizens and Singapore Permanent residents (PR) after the 5-year MOP – While selling to foreigners is only possible in the 10th year	NO restrictions when it comes to selling the condo in the open market
Status of Ownership	Can only achieve the “privatized” status after 10 years	Privatized from the beginning.
Multiple Property Ownership	Eligible Singapore citizens are only able to purchase subsidized housing properties twice	Owners can own multiple properties
Lease	All ECs have a 99-year Lease	Varies on projects where it can be 99 years or Freehold
Price	More expensive than a typical HDB flat but cheaper than private condos. They are usually priced 20%-30% lower than condos, depending on the location	More expensive than ECs
Income ceiling	Cannot exceed $16,000	No income ceiling

As you can see from the table, buying an executive condo comes with its own set of restrictions and criteria.

Both executive condos and private condos are similar in terms of their structure, architecture, and facilities.

This includes round-the-clock security, swimming pools, tennis courts, and others.

Another common trait is that both executive condos and private condos are marketed, advertised, and sold by private real estate developers.

One major factor attracting many condo buyers to prefer buying an Executive condo is the price. 

The cost of an executive condo is relatively cheaper because it is subsidized by the government.

This factor itself greatly affects the price and it could be as much as 20% lower.

Additionally, if you’re planning to get an EC as a first-timer, you can get an HDB grant which lowers the price even more.

So, it is clear that an executive condo is more affordable than a private condo.

Choosing between an executive condo and a private condo is tough.

It all boils down to your purpose of purchase and the desire to buy the property.

If you’re looking for a managed lifestyle with condo facilities, but tight on the wallet, then EC will be your preferred choice.

Besides, now most of them are located in key districts; Bukit Timah, Serangoon, Clementi, Queenstown, etc. 

The restrictions and MOP wouldn’t impact you since executive condos are originally built to be viewed as housing for the sandwich generation and not for investment purposes.

On the flip side, private condos might be your preferred choice if you are leaning towards property investment and rental.

On the other hand, you can sell your condo property to the open market without any worry regarding the rules and restrictions an EC might have.

So we’ve covered all the main points you as a home buyer would need to know regarding executive condos and private condos.

We hope that our guides help you make a wiser decision in terms of which to buy.