Executive Condominiums (ECs) in Singapore offer a unique blend of benefits for both first-time homeowners and upgraders. These are hybrids between public and private housing, allowing eligible applicants to purchase units without the restrictions faced with HDB flats. As of my knowledge cutoff, Singaporeans must have the appropriate income ceiling and not own any residential property at the time of application. ECs come with a minimum lease period of 99 years, and after a certain number of years, they can be privatized into private condominiums. The process involves meeting specific criteria, including the ability to sell your unit on the open market. These properties are situated in mature estates or growing areas, providing residents with convenience and connectivity. With a range of facilities and amenities similar to those found in private condos, ECs in Singapore are an attractive option for those seeking a step up from HDB living without fully transitioning to private property ownership.
