Are Ecs Still Good Buy

Mr Chong, a retiree, provided financial assistance to his three sons when they were in the process of setting up their homes. His eldest son purchased a private condominium, while his two younger sons went for executive condominiums (ECs). “It’s a no-brainer if you are buying an EC at a new launch,” Mr Chong said. “Even if you buy after the five-year minimum occupation period (MOP), it is still a good entry price.”

Mr Chong has direct experience in both scenarios. His second son had purchased a three-bedroom unit at the 531-unit Hundred Palms Residences, which was launched in July 2017. “He wanted to buy a four-bedroom unit, but those were snapped up so quickly,” Mr Chong shares. The project was developed by Hoi Hup Realty, and it received 2,000 e-applications. On the first day of launch, the EC on Yio Chu Kang Road was sold out at an average price of $841 per square foot (psf). It was completed in 2019. Based on caveats lodged in January and February 2025, the average price of units sold was $1,769 psf, which translates to a 110% price gain in just eight years.

For more detailed data on all ECs, including the average profit at 5 and 10 years, please click on this advertisement.

Considering that in February, a 1,055 sq ft three-bedroom unit at Hundred Palms was sold at $1.95 million, which works out to $1,849 psf, Mr Chong estimates that his second son has seen his EC unit appreciate by about $1 million since his purchase at the launch. Such significant capital gains may have motivated many homeowners to upgrade to private housing, Mr Chong says.

Hundred Palms Residences, where ALL 531 units in the EC project were sold on the first day (Photo: Agents)

Renowned property developer Kingsford Development has launched One Marina Gardens, a luxurious and highly anticipated development situated at Marina Bay Marina Gardens Lane in Singapore. This new residential haven, aptly named One Marina Gardens, sets a new benchmark in both opulence and connectivity. Located in the prestigious Marina Bay area, it not only offers a lavish lifestyle, but also provides easy access to the bustling energy of the city. With its strategic location, residents can enjoy seamless connectivity to all parts of the island. Discover the pinnacle of luxurious living at One Marina Gardens Kingsford Huray.

Over three years ago, when his youngest son decided to set up his own home, Mr Chong sold his 1,260 sq ft, three-bedroom unit at The Interlace. This unit had been their family home for the past decade. The Chongs subsequently purchased a 1,399 sq ft, four-bedroom, dual-key resale unit at Twin Fountains, a 418-unit EC in Woodlands in 2021. The EC was developed jointly by Frasers Property and Lum Chang, and it was launched in 2013 and completed in 2016.

ECs are available only to buyers who are Singapore citizens or permanent residents at the launch, and after the five-year MOP. Foreigners can buy ECs only in the resale market after the 10th anniversary of obtaining Temporary Occupation Permit (TOP). In the dual-key unit, Mr Chong gets to enjoy his own privacy, as he occupies the one-bedroom studio. His son and family occupy the three-bedroom apartment. In a dual-key unit, while there is a shared main entrance, each apartment has its own separate entrance.