Executive Condominium

Twin Waterfalls

It staged a strong comeback after the last launch in 2004. Since then, supply is set to double and more. The total EC units under construction including recent land sales, launched in less than 2 years, is now about the same as the existing completed supply, where it took over 10 years to sell and build.

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 more than $12,000 and a Minimum Occupation Period (MOP) of five years. During the 6th to 10th year after completion, units can be sold to Singaporeans or PRs with no family nucleus requirements (Partially Privatised). After 10 years, all restrictions are lifted (Privatised). On the positive side, buyers are eligible to certain grants.

Against this backdrop, new EC units are currently sold at about 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 cross the first 10-year period. See two examples below where this is true. We have picked a pair of properties (one EC and one private property) in each case with the same tenure, same completion date, and approximately the same distance away from the area's main amenity, the MRT station.

While an EC 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 EC tends to be 20% lower than that of a private property.

A list of all the ECs is given below. More than half of the completed ECs have been fully privatised. Most of the other half are in their 6th to 10th year. La Casa remains the only EC currently that has yet to cross the initial 5-year MOP. This is due to a vacuum period of about 6 years (2004 - 2010) with no new EC developments. The priciest EC is Bishan Loft, where units have crossed the $1,000 psf mark.

Distribution of Executive Condominiums

Note: Mouseover to see the property's name.
Source: URA, http://propertypricestoday.com
Uncompleted
First 5 Years
Partially Privatised
Privatised

Average Prices and Rents of Executive Condominiums

Note: *Prices and rentals are based on data in the past 6 months.
Source: http://propertypricestoday.com
Marker Project Tenure Completion Lowest price*
($psf)
Average price*
($psf)
Highest price*
($psf)
Lowest rental*
($psf pm)
Average rental*
($psf pm)
Highest rental*
($psf pm)
THE EDEN - - - - - -
WESTMERE 99 Yrs From 26/06/1996 1999 854 854 854 2.22 2.46 2.76
SIMEI GREEN CONDO 99 Years 1999 - - - - - -
WINDERMERE 99 Yrs From 03/03/1997 1999 563 614 655 1.66 1.87 2.08
PINEVALE 99 Yrs From 31/01/1997 1999 648 670 688 1.85 1.85 1.85
CHESTERVALE 99 Yrs From 17/03/1997 1999 555 566 580 1.66 1.66 1.66
SIMEI GREEN CONDOMINIUM 99 Yrs From 14/11/1996 1999 704 725 753 1.00 2.24 2.63
EASTVALE 99 Yrs From 26/06/1996 1999 695 698 701 1.92 2.11 2.33
WOODSVALE 99 Yrs From 22/09/1997 2000 537 610 660 1.72 1.91 2.08
THE RIVERVALE 2000 656 674 691 1.84 1.95 2.16
THE FLORAVALE 99 Yrs From 16/12/1997 2000 485 620 693 1.85 2.06 2.40
SUMMERDALE 99 Yrs From 22/09/1997 2000 651 677 723 2.11 2.35 2.61
NORTHOAKS 99 Yrs From 16/12/1997 2000 490 601 665 1.68 1.86 2.00
YEW MEI GREEN 99 Yrs From 01/12/1997 2000 657 685 738 1.53 1.94 2.16
THE FLORIDA 99 Yrs From 16/12/1997 2000 614 658 708 - - -
THE EDEN AT TAMPINES 99 Yrs From 12/09/2000 2003 630 748 830 1.81 1.91 2.00
THE DEW 2003 769 793 810 1.92 1.96 2.00
LILYDALE 99 Yrs From 12/09/2000 2003 642 660 682 1.84 2.16 2.43
BISHAN LOFT 99 Yrs From 13/12/2000 2003 1008 1056 1139 2.62 2.73 2.81
NUOVO 99 Yrs From 02/05/2001 2004 865 885 907 2.22 2.22 2.22
PARK GREEN 99 Yrs From 17/08/2001 2004 627 673 722 1.85 1.97 2.09
Dew The 99 Years 2004 - - - - - -
WHITEWATER 99 Yrs From 23/07/2002 2005 640 655 666 1.92 2.07 2.17
THE ESPARIS 99 Yrs From 21/01/2002 2005 657 693 724 2.00 2.05 2.16
THE QUINTET 99 Yrs From 22/01/2003 2006 709 732 759 1.62 1.81 2.00
WESTWOOD RESIDENCES 99 Years Leasehold 99 Years Leasehold 726 794 861 - - -
THE BROWNSTONE 99 Years Leasehold Uncompleted 764 821 917 - - -
THE CRITERION 99 Years Leasehold Uncompleted 709 777 879 - - -
WANDERVALE 99 Yrs From 08/12/2014 Uncompleted 687 762 798 - - -
PARC LIFE 99 Yrs From 13/10/2014 Uncompleted 663 775 866 - - -
NORTHWAVE 99 Years Leasehold Uncompleted 710 757 818 - - -
LA CASA 99 Yrs From 13/09/2004 2008 655 719 781 2.00 2.11 2.21
ESPARINA RESIDENCES 99 Yrs From 02/06/2010 2013 937 937 937 - - -
PRIVE 99 Yrs From 14/09/2010 2013 865 865 865 - - -
AUSTVILLE RESIDENCES 99 Yrs From 24/08/2010 2014 790 790 790 - - -
THE CANOPY 2014 - - - 2.24 2.24 2.24
BELYSA 2014 - - - - - -
BLOSSOM RESIDENCES 99 Years 2014 - - - - - -
RIVERPARC RESIDENCE 99 Yrs From 27/12/2010 2014 776 776 776 - - -
1 CANBERRA 99 Years 2015 - - - - - -
ARC AT TAMPINES 2015 - - - - - -
THE RAINFOREST 2015 - - - - - -
TWIN WATERFALLS 99 Yrs From 05/10/2011 2015 - - - 2.10 2.10 2.10
THE TAMPINES TRILLIANT 2015 866 866 866 - - -
WATERWOODS 99 Yrs From 11/03/2013 2015 732 732 732 - - -
SKYPARK RESIDENCES 99 Yrs From 18/03/2013 2016 706 748 791 - - -
CITYLIFE@TAMPINES 99 Yrs From 13/08/2012 2016 - - - 1.60 1.60 1.60
ECOPOLITAN 99 Yrs From 04/12/2012 2016 - - - - - -
WATERCOLOURS 99 Yrs From 10/01/2012 2016 - - - - - -
WATERBAY 99 Yrs From 02/07/2012 2016 - - - - - -
TWIN FOUNTAINS 99 Yrs From 19/12/2012 2016 - - - - - -
SEA HORIZON 99 Yrs From 25/02/2013 2016 - - - 2.24 2.24 2.24
LUSH ACRES 99 Yrs From 13/02/2013 2016 - - - - - -
FORESTVILLE 99 Yrs From 06/08/2012 2016 703 736 795 - - -
HERON BAY 2016 - - - 1.28 1.28 1.28
LAKE LIFE 99 Yrs From 30/10/2013 2017 - - - - - -
BELLEWOODS 99 Yrs From 12/08/2013 2017 667 748 876 - - -
BELLEWATERS 99 Yrs From 28/08/2013 2017 729 808 864 - - -
THE TERRACE 99 Yrs From 30/10/2013 2017 729 784 847 - - -
THE VALES 99 Years Leasehold 2017 745 835 909 - - -
SIGNATURE AT YISHUN 99 Years Leasehold 2018 699 756 839 - - -
SOL ACRES 99 Years Leasehold 2019 723 792 863 - - -
THE VISIONAIRE 99 Years Leasehold 2019 715 807 880 - - -

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