ECs are developed and sold by private developers but with eligibility rules closer to HDB flats: at least one applicant must be a Singapore Citizen, at least one other must be an SC or Permanent Resident, and the household cannot own private property or have disposed of one within the last 30 months.
The standard 5 year Minimum Occupation Period applies, after which the unit can be sold on the resale market, but still only to Singapore Citizens or Permanent Residents until it fully privatises at 10 years, at which point it can also be sold to foreigners. No ABSD applies for eligible first timer Singapore Citizen purchasers buying a new EC as their first home.
New EC launches now follow the standard Progressive Payment Scheme, since the Deferred Payment Scheme was removed from 2024 onward. Even so, EC typically launches at a 15 to 20 percent discount to comparable private condominiums, keeping it attractive for eligible buyers with a long hold horizon.
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Book a free 30 minute callWinfred Quek is an Associate Marketing Consultant at Crestbrick Pte Ltd (CEA Licence No. L31010886H). CEA R073319H. This page is for general information only and does not constitute financial, investment, or legal advice. Verify current figures with IRAS, HDB, CPF Board, or MAS before making any decision.