Sale of Executive Condominium (EC) in open market – Property for sale Singapore
Overview
Executive Condominium (EC) was introduced to cater to Singaporeans, especially young graduates and professionals who can afford more than an HDB flat but find private property to be out of their reach. ECs are comparable in design and facilities to private condominiums as they are developed and sold by the private developers. Property for sale Singapore.
Purchase of ECs from Developers
ECs are developed and sold by private developers. You may contact the developers directly for more information on EC projects. property for sale Singapore
Sales of ECs in Open Market
The Minimum Occupation Period (MOP) for new EC owner is 5 years which is computed from the Temporary Occupation Period (TOP) date. During the 5 year MOP, the owner cannot invest in private residential property. property for sale Singapore
After the 5 year MOP, (from 6th -10th year), EC can be sold in the OPEN MARKET (only to SC or SPR). From the 11th year onwards, all restrictions will be lifted and foreigners & corporate bodies can also buy EC in the open market.
Please click here to search for property for sale Singapore.
