In the realm of real estate investing, one question that often arises is whether Executive Condominiums are an unequivocal path to financial success. These properties, known for their luxurious amenities and typically better strategically located, have captured the attention of many first-time buyers. However, like any investment, it's crucial to approach Executive Condominiums with a well-informed perspective and know that not all real estate investments actually guarantee a 100% return. So what property makes and doesn’t make money? Read on to find out more. Exploring the Appeal of Executive Condominiums Executive Condominiums, often referred to as ECs, merge the best of both worlds - the comfort of condominium living with the affordability of public housing. These properties are developed by private developers and approved by the government, offering a range of amenities such as swimming pools, fitness centers, and lush landscapes. The appeal of ECs lies in their luxurious lifestyle and potential for appreciation. When you purchase an Executive Condominium (EC) unit from a real estate developer, you may be eligible to receive a housing subsidy of up to $30,000 under the CPF Housing Grant Scheme. If you would like to check out if you are eligible, do click on the link here. Most importantly, ECs are in a way discounted private condominiums catered towards Singaporeans while still allowing Singaporeans to sell to foreigners once they have met the minimum MOP (Minimum Occupation Period). The Investment Potential Yes, it’s true that investors are drawn to Executive Condominiums due to their high potential for significant appreciation over time. A 10% return on a $500,000 HDB can never be compared to a 10% return on a 1.5 million EC. The earning difference is $100,000! Apart from that, ECs have a larger pool of buyers while HDBs can only be sold to Singaporean or PR. This means that EC can have a healthy amount of transaction volume, showing clear price data. Over the last 5 years, we have seen significant capital gains from these asset classes. Sol Acres, which recently MOP on 12 March 2023 has seen an average annualized 9.3% gain. It's truly astounding to discover the potential of earning over $300,000 in capital appreciation through the sale of a one-bedroom unit in Singapore. Generally, one-bedroom units are perceived to possess a rather ordinary design and lack remarkable attributes. Consequently, homeowners tend to steer clear of such properties for their own occupancy. However, given that its price range is typically more affordable than regular private condominiums, it does help attract a niche group of buyers looking for certain layouts. ECs are always Developed in Up-and-Coming Areas In order to keep the prices of ECs low, they are usually been developed in non-matured estates. This means the potential for capital appreciation for these investments can go appreciation faster as compared to matured estates. If you are looking for available ECs right now, there are still available units up for grabs at Altura EC in Bukit Batok. If you would like to find out more about the investment, be sure to check out our article here. Examining the Risks While it's true that the last 10 recent MOPs did make a profit, we can discount the reality that property investing comes with risks that we as property investors need to take note of. We have been in a Bull Market for the Last 5 Years Ever since 2017, the property market has only been on the rise and only recently we have seen the first dip in Q2 2023. We know that the property market comes in 4 cycles which are: Expansion Decline Recession Recovery Although Singapore has gone through similar recessions in the past, we never know how much the property market may tank, and investing for the long term is always the smarter investment choice. We May Face Interest Rates for a Long Time With inflation maintained above the desired 2% in the US, the US Federal Reserve has initiated higher interest rates to keep inflation under control since March 2022. This has led to lesser borrowing and higher costs for borrowers all around the world. Until we see the inflation rate being kept under control, we may have to pay for higher interest rates for a longer time. During such time, it will cause investors to be more conservative with their investments. Hard to Get Executive Condo You may have heard from a friend or family the difficulty of getting an EC. Unlike getting a BTO or resale flat, the requirement needed to get an executive condo requires more barriers to entry such as higher income and a limited amount of debt you can take. If you would like to know more about what are the financial considerations you need before getting an EC, do check out this article here. When you actually sit down with an agent to discuss the financial requirements needed, owning a property might actually be affordable! Is it Worth it to Get an Executive Condo? While Executive Condominiums promise to be a profitable investment, they are not a guaranteed path to financial success. Like all investments, careful consideration, research, and risk management are essential. Investors should leverage professional advice, stay updated on market trends, and adopt a diversified approach to maximize their chances of success. By understanding the intricacies of the market and making informed decisions, individuals can harness the potential of Executive Condominiums to build a rewarding investment portfolio. Once you actually sit down and calculate your finances, property investing is quite affordable and our government has done a great job implementing the TDSR(Total debt servicing ratio) to protect Singaporeans from overleveraging and make sure that everyone is able to live comfortably with their property investments. FAQs

Real estate investing has always been a popular investment for Singaporeans. Our nation has one of the highest homeownership ratings with close to 90% of residents owning a property. So I guess Singaporeans love property investing.😅 Should You Learn Property Investing The issue with property investing is, not everyone knows how to grow wealth with real estate. Yes, almost every property in Singapore is “sure to make money”. That is if you hold for over 30 years and let inflation do its thing. Over the years, we found that the best way for asset progression is knowing how to pick properties with high growth potential that won’t burn a hole in your pocket. In this case for Parc Clematis, that’s what we did! We Bought Parc Clematis! In 2019, after extensive research, we felt financially confident in making one of the biggest purchases of our life. We are HDB Upgraders Here’s a little backstory about us. Before becoming real estate agents, we both worked as engineers. At that time, we had been living in a 5-room flat in Boon Lay for over 10 years. As an active saver, we thought we finally had enough savings to finally move to a private condo. We didn’t like the idea of investing in stocks and bonds, instead, we like to own tangible assets. That’s why we knew if we wanted to grow our investment, property investing was the best way for us to get to. During that time, we went to a roadshow and an agent brought us to the show flat to help us look into finding a private condo for us. Sadly, the agent’s instructions weren’t clear and we ended up not getting the property. That’s when we told ourselves that if we wanted to get financial results, it was best to do it ourselves. We got our real estate license in 2018 and looked into property investing ourselves. Looking back, we realize we actually had the financial capacity to have started property investing earlier. If only a reliable agent could bring us through the process clearly of property investing… That’s why we became property agents. Why Parc Clematis? We have always liked living in Clementi, using our 7-step framework to find high-growth investment, we decided that Parc Clematis ticks all our checkboxes as young parents. Here are the considerations we looked into before buying: 1) Pricing First and foremost before we look into property investing, we must first find our most comfortable budget to set aside for property investing. Is it affordable to us? Is the price justifiable? Is there a better buy elsewhere in a better location? Entering a property at the right price is crucial for future returns. Pay too much and you would earn less. To find a reasonable amount that we should be paying for our condo, we compared Parc Clematis to other recently launched condos around the area. 2) Future Potential Will new launches around the area make Parc Clematis less desirable? Often times when we look into property investing, one of our main considerations is whether there is limited supply and high demand for property projects. It’s an indicator of future potential for an exit strategy. 3) Distance to MRT These days, although Singapore is well-interconnected. There are still places that are generally more accessible thanks to public transportation. And having homes near the MRT is a way to commute around. 4) Convenience When we are looking for a property, the first criterion we look at is what it has to offer within the vicinity. Things we look out for are: Shopping malls Food stalls (preferably some well-known brand) Amenities Transportation Schools The level of convenience in these areas is a crucial factor in our exit strategy in the future. Future buyers looking to buy resale properties tend to focus more on convenience first before anything else. Looking at Google Maps, it's always a great sign to see arrows directing to malls, schools, train stations, food stalls, and sports facilities. 5) Wide Array of Facilities Parc Clematis has over 33 facilities to boast. It’s a lot! The condo uses 60% of its 400,000 sqft of land dedicated to open space even with 1,468 units. This helps residents to have more room to enjoy the facilities and spacious to walk around the vicinity of the condo. One of its USPs (unique selling point) I love about this condo is the sand color tiles that gradually blend with the blue tiles to form a “beach-like” experience. This gives a more relaxed feel to the condo making it stand out from the rest. Just look at the artist's impression of the beach-like view, doesn’t it look amazing? Schools Everywhere Clementi is known as an education hub catering to education ranging from primary schools to tertiary education. For parents looking to send their kids to a good primary school. Clementi has the famous elite school Nan Hua Primary School which is highly sought-after. In an earlier article, we covered why parents are willing to pay more for good schools in Singapore. Apart from meeting the 1km distance eligibility for Primary schools, being near any schools in Singapore helps parent feel reassured that their kids are closer to home. Past Resale Transaction Within The Area After TOP If you are looking for capital appreciation from your property investment, looking at past resale transactions of condo facilities around the region plays a significant. With a limited supply of private properties in Clementi and being a more affordable option in central west Singapore, naturally there is a higher demand in the area. Here’s a look at the recent price transacted for a condo in Clementi: This shows that over the last few years, the price around Clementi has risen tremendously over the last few years and we can still expect further growth in the future. Was It Worth It? It was a scary rollercoaster ride. When we first bought Parc Clematis back in 2019, we paid over $1.4 million for the 3 bedder. At that time, you can get a larger 3 bedroom at Hillview for slightly above $ 1 million. When the pandemic happened, we thought this was it. Our investment is going down the drain and we never know how we can recoup our income as agents. Thankfully at that time, we were financially confident of our investment and our saying as agents to new home home buyers is: Will you lose your home if you lose your job? Surprisingly, the market went bullish for the subsequent part of the next 2 years. While everyone was shocked by the hype of property investing, we were just thankful that we stuck to our conviction of owning this property. Did we Make Money? Based on past transaction of 3 bedder, our expected gains of Parc Clematis is sitting at over $300,000 in profits! Parc Clematis is nearly reaching its TOP and many buyers have placed their property on the open market. So far, there hasn’t been an unprofitable transaction on EdgeProp.😁 Common Concerns for HDB Upgraders Should we upgrade? HDB upgraders all would like to live better lives, where else is better than living in a private condo where you are given an array of facilities to enjoy yourself? Apart from that, private condos have a higher capital appreciation as compared to HDBs. With the capital appreciation from your home, you can choose to decouple and buy a second property. HDB upgraders tend to look at property investing in two ways; improving standard of living and increasing capital appreciation. If you would like that, here are some pointers to take note of: Cost Definitely, when it comes to upgrading to a condo, the cost of ownership is higher, and having to pay for monthly maintenance could mean taking a cut away from your monthly salary. To live comfortably even after paying for your property, buyers need to learn how to set aside a portion of their income. To be stress-free when upgrading to a private property, always know your holding power and it should ideally be able to hold for a minimum of 3 years. With our PFD method, we help our clients upgrade to private properties without touching their savings and changing their lifestyles. I’m Comfortable, Why Should I Upgrade? Not everyone likes the idea of upgrading their home every 5 to 10 years. But if you are someone looking to earn more capital gains or make passive income through rental, getting a private condo is a strategic move. Only through private housing, Singaporeans can leverage the technique of the “sell 1 buy 2” strategy to own two residential units. One for own-stay, the other to rent out. How can I Learn More About Real Estate Investing? If you would like to learn more about property investing, you can check out our YouTube or blogs on our website where our focus is executive condos and private housing to grow your investment.

When it comes to real estate investment, it's crucial to identify strong emerging opportunities that hold the promise of future growth and profitability. Tengah's unique urban planning, sustainable initiatives, and strategic location have piqued the interest of potential buyers and investors alike. However, not much deep dive is covered about this real estate gem. A question then arises: Why should I buy a property here? Tengah: The New Punggol; Maybe Even Better Can you recall a time when Punggol was deemed an unfavorable choice for property investment or residence? Concerns revolved around its location, amenities, and the quality of schools in the area, all of which seemed to deter potential investors. Fast forward to today, and the situation has taken a remarkable turn. Punggol now boasts HDB sales reaching the million-dollar mark, with properties selling for as high as $1.22 million. Many property owners in Punggol have witnessed substantial returns on their initial investments. Enter Tengah — a location initially characterized by its lack of established development. Prospective buyers find themselves in a situation reminiscent of the Punggol scenario, uncertain about the potential prospects and opportunities. After the passage of three years, our comprehension of Tengah's development has significantly improved. We now possess a clearer insight into the envisioned transformation of Tengah. Below, we highlight the compelling investment opportunities that Tengah currently offers to prospective buyers: Good Location and Accessibility Tengah is the first HDB town to have a car-free Town Centre where green commutes such as walking and cycling are encouraged. The separation of pedestrian flow from vehicular flow right in the heart of the town will create a safer and friendlier space. Given how we are moving towards car-free, the government has implemented more bus stops within 300 meters of residential blocks. These buses will have better connectivity to the bus interchange at Tengah MRT. With greater connectivity to Jurong Lake District, buyers can expect to meet the rising demand for jobs within the area. Apart from that, Jurong Innovation District will also bring in more demand for work within the area. Nature-Feel Environment With green computing being the future for Tengah, being blended with nature is what this new development is going for. A 100m wide by 5km long woodland corridor will be created by the vegetation that is growing up in the town's corners. You can access additional green areas of Singapore, such as the Central Catchment Nature Reserve and Macritchie Reservoir Park, which is home to the famed TreeTop Walk, through a trail that leads to the end of the path. According to the HDB, all five districts will use biophilic designs to help residents feel more connected to nature and improve their general well-being, health, and sense of place. All multi-story car park rooftops will be implemented with gardening areas for the residents. “Low-Cost” Property Valuation Tengah isn’t even considered a non-mature estate, it is an entirely new town and it’s hard to determine a valuation. But here’s what we know! A 3-room HDB in this launch costs $231k, and a 5-room HDB costs $525k. Prices for upcoming launches are anticipated to rise because Tengah is still in its early stages of development, so you might want to call dibs right away. Another big news we know is ACS Primary will be moving to Tengah in 2030. This is why Altura EC which was recently launched gained widespread attention given its within the 1km distance from the school. The property was launched in July and has more than 61% of its units sold for an average of $1433psf. We all know the potential capital appreciation property valuation has over good schools. If you do read the URA Masterplan, Tengah transformation would definitely be more valuable as compared to Punggol. These prices will definitely rise once we get a better gauge of the price valuation. Smart and Futuristic Tengah will be the frontier for innovation in property development. Its goal is to be a sustainable living environment for residences to enjoy higher-level living facilities and amenities. The district will be the first to install a smart Pneumatic Waste Conveyance System (PWCS) to promote a more hygienic and efficient method of waste collection and management. The PWCS is an automated, enclosed waste collection system that moves home waste to the Centralized Bin Center using underground pipes and high-speed air suction. With this new system, residents will never have to worry about trash bins being overfilled. Comfort Living Tengah Estate aims to cater to the new future of comfortable living. Being a car-free environment, residents would get to enjoy a more peaceful and safer experience while commuting. With the large greenery, Tengah would definitely be one of the best places to exercise and enjoy. The town's infrastructure has been thoughtfully designed to foster community interaction. The car-free town centre, for instance, encourages walking or cycling, which not only promotes a healthier lifestyle but also creates opportunities for social interaction among residents. Additionally, Tengah offers a wide range of amenities including shopping centres, schools, healthcare facilities, and public transport connectivity, all of which contribute to making it a comfortable place to live. HDB Buyers Can Look Forward to Tengah is a ground-breaking idea that reinvents urban living, not simply another housing complex. The district offers a variety of advantages for HDB purchasers, including the chance to live amidst beautiful vegetation and take advantage of cutting-edge sustainable technologies. Tengah places a strong emphasis on community, connectivity, and innovation. Buyers of HDB units can surely anticipate a distinctive and fulfilling living experience as this visionary town continues to take shape. Traveling to work will never be as tough with its great connectivity around the West area in Singapore. It’s just 10 10-minute train ride to Jurong Industrial Park, 5 5-minute train ride to Jurong Lake District, and 20 minutes to Tuas Industrial Centre. What Opportunities Can Private Housing Buyers Get? If you are looking for sizeable housing, at below-market pricing, in an accessible location to the West. Tengah is something for you to consider. Altura EC If you are in the market for an executive condominium, there are still a number of available units at Altura EC. This condominium complex offers a host of luxurious amenities and a convenient location, making it an ideal choice for those looking for upscale residential options. Each unit is thoughtfully designed, offering the perfect blend of style and functionality. Tengah Plantation EC However, if your preference leans towards the upcoming Tengah Plantation Loop EC, we understand that the anticipation might be building up. As of now, the launch dates for Tengah EC have not been officially announced. Sorry, we don’t have any image of the EC itself but we do know where it will be located. The strategic location and the promise of a futuristic design have already created quite a buzz among potential homebuyers. This property fits well for families since it's located right beside 4 different schools such as Princess Elizabeth Primary School, Bukit Batok Secondary School, Dulwich College, and Millennium Institution. If you wish to wait for Tengah Plantation Loop EC, we recommend that you leave your contact information with us. This way, we can ensure that you will be among the first to receive any news or updates about the Tengah EC development as soon as they are available.👍

Welcome to Clementi, the school haven in District 5, where education thrives and dreams soar high. From the early years of primary school to the advanced stages of tertiary education, Clementi is simply the one-stop solution to every parent's concerns when finding schools around the area. Over the last few years, Clementi has boasted a number of million-dollar HDBs, buyers believe that spending this amount of money in the long term is worth every penny. If you are looking to buy a property in Clementi but unsure of the investment commitment, here's what you need to know. Clementi - A Gem for Early Education When buying property for parents looking for the best education, two places come to mind, D5 and D10; that’s Clementi and Bukit Timah. Here’s a look at D5 Clementi and the number of schools within the area. It’s mind-boggling to have that many education institutes within the area. Some of these schools are even considered to be prestigious schools to be in. Let’s take a look at the types of schools Clementi has to offer. What Primary Schools are there in Clementi There are 4 different primary schools available at Clementi, they are: Clementi Primary School Nan Hua Primary School Qifa Primary School Pei Tong Primary School NUS High School of Math and Science These schools are all within 1~2km away from Clementi MRT, making them one of the most accessible schools to go to. However, when buying a property in Clementi, many parents would prefer locations within 1km of Nan Hua Primary School to get priority admission. Here’s a look at the priority admission in the given order: Singapore Citizens (SC) living within 1km of the school. SCs living between 1km and 2km from the school. SCs living outside 2km of the school. Permanent Residents (PR) living within 1km of the school. PRs living between 1km and 2km of from school. PRs living outside 2km of the school. Nan Hua Primary School is considered a prestigious school within the Central Clementi, hence, property within the 1km area fetches at a higher price. As a result, we have seen many $1 million HDB coming from this area. What Secondary Schools are there in Clementi Once your child completes his/her primary education, we can look forward to 5 Secondary Schools in Clementi to choose from. They are: Clementi Town Secondary School Nan Hua High School Commonwealth Secondary School Kent Ridge Secondary School School of Science and Technology, Singapore Nan Hua High School would be the most prestigious secondary education within the Clementi area. Here’s a look at the cut-off point benchmark to enter schools within Clementi: SAP= Special Assistance Plan *School of Science and Technology is an applied program for individuals interested in special programs for technology.* What Higher Studies are there in Clementi Once the student has completed their secondary education, the next phase of education is either choosing between a JC (Junior College) or a Polytechnic. Once that’s done, they could continue their education in university for their degree or Masters. The schools within the area are as follows: Ngee Ann Polytechnic Singapore Polytechnic SIM (Singapore Institute of Management) SUSS (Singapore Institute of Social Science) ACS (Independent) NUS (National University of Singapore) These schools are well-connected to Clementi either by bus or MRT which typically takes about 5~15 min to travel around. 3 Parts of Clementi for You to Look At If you are interested in buying a property in Clementi, there are 3 different locations that can be broken down as buying property in the North, Central, or South of Clementi. 1. Clementi Central Located at the heart of the town, with an abundance of amenities and services nearby. It features a bustling shopping mall, Clementi Mall, which offers a range of dining, retail, and entertainment options. This area is perfect for those looking for convenience and a vibrant lifestyle. For investors, properties here tend to appreciate well due to the strategic location and comprehensive facilities. We have seen all over the news the high valuation of houses around the area, with multiple 5-bedroom HDBs going for over $1 million. What's more, with the new and upcoming CRL (Cross Island Line) coming in 2032, residents within the Clementi area would get to enjoy better travel convenience to the East side of Singapore. 2. Sunset Way (North) Sunset Way is a serene residential enclave that appeals to those who prefer a quieter and more tranquil living environment. Surrounded by lush greenery, this neighborhood is ideal for families and individuals seeking a peaceful atmosphere. Properties like Pinetree Hill Residence which launched in July 2023 encompasses a 75% greenery area to 25% residential area. The property faces the Clementi forest, making the area much cooler than other parts of Clementi. Sunset Way is adjacent to Holland, which falls under the core central region (CCR). This allows buyers to potentially benefit from the increase in property values in Holland Village without paying CCR property prices. While it may not have the same level of commercial amenities as Clementi Central, its exclusivity and charm make it an attractive option for both own-stay and investment. With a new Maju Cross Island MRT Line coming in 2032, we may see more capital appreciation within the area. 3. West Coast (South) West Coast is a subzone located in the town of Clementi. The area is considered the South of the Clementi region that is right beside the seaside. Over the last few years, we have seen multiple properties being built within the area such as Clavon and The Clement Canopy. When it comes to more affordable landed housing, many buyers prefer buying the landed area within this region for its affordability, land size, and tranquillity. As long as you have a vehicle to travel around with, this location has a direct straight drive down towards Vivocity and Sentosa. With the new upcoming West Coast Cross Island Line(CRL), accessing this location in the future wouldn’t be much of an issue. Clementi – Invest or Own-Stay? Given how much capital appreciation Clementi has raised over the last few years, it's no surprise this location is also closely monitored by investors. For parents looking to send their kids to an elite school without having to pay for a landed property like the Bukit Timah area, Clementi Central is something for you to look at. Here’s our research that shows the transaction data of a 10-year period for properties that are within a 1km radius of Nan Hua Primary School. While buying a D5 Clementi property may be expensive, we can still expect further growth around the area. Every parent wants the best for their children, and paying an extra 15%~30% more for a property is reasonable when you look ahead decades later where all your children's education can be found within the area. However, if you want to find the best value and location for your children in Clementi but don’t know how to find them. Be sure to reach out to us! We will be happy to serve you and find the best one in Clementi!

The Perfect Blend of Accessibility, Amenities, and Green Living Looking for the best in the West? Altura EC is an upcoming executive condominium development located in the heart of the mature town of Bukit Batok, Singapore. With its close proximity to numerous amenities, excellent connectivity, and lush green surroundings, it is no wonder that this development has become highly sought after by first-time homebuyers and upgraders alike. With more estate being built around the region, this property might just be the most premium home in the region. Isn’t that awesome? What Singaporeans Should Look Out For This article serves as an “all-in-one” guide for Singaporeans looking to find the best property and highest potential ROI(return of investment). It will be broken down based on: about the developer opinion on why investors/buyers are interested in this investment layout to look at what investors should be looking out for At the end of this article, you should be able to get a rough understanding of the property market and whether Altura is a good buy for you. 10 Reasons Why This Project is So Popular If you have been staying in Bukit Batok, you will know that private properties in the region are pretty rare. That’s why having private property in this area is considered a flex. 1. Accessibility to MRT Stations and Major Expressways For those who prefer to drive, the development is conveniently located near PIE(Pan-Island Expressway), which stretches across Singapore and connects to various areas, such as Jurong East, Toa Payoh, Bedok, and Changi Airport. This expressway is one of Singapore's most important transportation arteries, seamlessly connecting residents to different island corners. If you would like to take the public transport, you do have to take the bus 991 to get from place to place. Here are the 3 MRT stations that you can travel to: 2. Proximity to a Wide Range of Amenities When it comes to property investing, a crucial lookout point Close proximity to a multitude of amenities, catering to the needs of residents. The nearby shopping centers currently available would include Le Quest Mall which is within 5 minutes walking distance. These malls offer a diverse range of retail options, allowing residents to easily access daily necessities and enjoy shopping and dining experiences. If you are a golfer, lucky you! The project is just a 5-minute walk away from Bukit Batok HomeTeam NS. Got kids, there are paid caretaking services and also other entertainment such as bowling, laser tag, or pool. Best of all for you who love to drink out there, the CC has a bar right next to the golf range for you to enjoy your time there. Now If you explore a little bit further, there is Beauty World Centre, The Rail Mall, HillV2, and Bukit Timah Shopping Centre just a 10-minute drive away. 3. Nestled within Lush Greenery and Nature Parks If you are someone who appreciate green living and a serene environment, this investment has what you are looking for. The development is surrounded by nature and greenery, offering stunning views of nearby Bukit Batok Hillside Nature Park. This park features various walking trails, fitness areas, and even a butterfly garden, providing residents with a tranquil space to unwind and connect with nature. Other nearby parks include Bukit Batok Nature Park, Little Guilin, and Dairy Farm Nature Park, offering a wide range of recreational activities and beautiful landscapes. The upcoming Tengah Town development, which will be fully developed in 2027, will also incorporate dedicated spaces for farming and gardening, further enhancing the green living experience for residents. 4. Close Proximity to Renowned Schools and Educational Institutions There is no shortfall of schools to choose from in this area! This location is strategically located near several established schools and educational institutions, making it an ideal choice for families with school-going children. Some of these schools include: Dazhong Primary School Swiss Cottage Secondary School St. Anthony's Primary School Dunearn Secondary School Bukit Batok Secondary School Millennia Institute Dulwich International College. Moreover, the upcoming Anglo-Chinese School, scheduled to open in 2030, will be within 1 km of the development, further adding to the appeal for families seeking quality education for their children. 5. The Deferred Payment Scheme: A Convenient Financial Option Eligible buyers can opt for Deferred Payment Scheme (DPS), allowing them to manage their mortgage payments more effectively. Under this scheme, buyers only need to pay for their property upon its completion, alleviating the financial burden of having to pay for both their HDB and EC simultaneously. This option is particularly popular among buyers with existing HDB loans who wish to upgrade to an executive condominium without additional financial strain. If you are interested to know more about the property market or want to work with somebody, be sure to reach out to me! 6. Potential for Capital Appreciation and High Rental Yields The development of Tengah Town and the Jurong Lake District and the construction of new MRT stations is expected to boost property values in the vicinity. As the surrounding areas become more developed and attractive, property prices in Bukit Batok may rise, providing a potential capital appreciation for property owners. With the increased demand for properties in the area due to improved connectivity and amenities, property owners may also enjoy higher rental yields as more people seek to rent properties in the vicinity. Right now, Jurong district is pricing in at $2,000 psft and is only pricing at $1,300 psft. This amount is considered a steal if you were to consider the future development around the West region. If you aren't familiar, the Jurong Lake District will be further revamped to increase its capacity for residential and commercial use. Take note that the Lakegarden Residence itself is already selling for over $2,000psf. Therefore, the expected psf around the area is most definitely going to increase over the next few years. 7. Developer Renowned for EC Developed by Qingjian Realty Pte Ltd, has an estimated site area of 12,449.3 sqm and is expected to yield approximately 360 residential units. You can check out their website by clicking the link here. It's also good to know that QingJian Realty Pte Ltd has also developed multiple ECs and condo projects all around Singapore. Many of their property such as the most recent transaction of Le Quest which is directly 2 blocks away has done well. Since MOP in 2020, Le Quest has seen a spike in earnings with its pricing jumping 6% from 1,535psft to 1,626psft in 3 years. The condominium has a healthy amount of transaction of 25 for its 3 bedder and almost all investor has earned from their property investment. Therefore, it would be surprising to see another win for the developer.😊 8. Ideal for First-Time Homebuyers With its excellent location, comprehensive facilities, and potential for capital appreciation, this project is an ideal choice for first-time homebuyers. The development offers a unique combination of accessibility, amenities, and green living, making it a perfect blend of all the essential elements for a modern and comfortable lifestyle. Moreover, the availability of the Deferred Payment Scheme allows eligible buyers to manage their financial commitments more effectively, making it an attractive option for buyers who can only pay at a later date. 9. Peaceful and Low Noise Area Investors often underestimate the significance of knowing the location of main roads. When it comes to this project, there are only a couple of two-lane roads intersecting the area, and they are conveniently situated away from major roads with heavy traffic, thus ensuring a pleasant and pollution-free environment. 10. Family Orientated If you plan to invest in this property, you will most likely have a group of family-friendly people around who can support each other as a community. Is this the Right Investment for Me? There are several reasons why Singaporeans are inclined to invest in ECs. They are: ECs are more affordable and exclusive to Singaporeans ECs are well-known for their capital appreciation Can take advantage of a government grant Exclusive to certain income group If you would like to understand the step-by-step process of getting an EC property, you can check out this article here. Am I Eligible for the Property? To determine your eligibility for an EC in Singapore, you need to meet certain criteria set by the Housing and Development Board (HDB). Here are the general requirements: Citizenship: You must be a Singapore Citizen. Age: You need to be at least 21 years old. Family Nucleus: You must form a valid family nucleus to purchase an EC. A family nucleus can consist of: a. You and your spouse (if married). b. You and your spouse-to-be (fiancé/fiancée) under the condition that you register your marriage within three months of taking possession of the EC. c. You, your parents, and any siblings (if unmarried). d. You and your children are under your legal custody and care (if you are a widowed or divorced person). Income Ceiling: The combined monthly income of all members in your family nucleus must not exceed a certain income ceiling, which is currently set at $16,000. Ownership of Property: You and your spouse, fiancé, or any of the essential family members listed above must not: a. Currently own any private residential property (local or overseas). b. Have disposed of any private residential property within the last 30 months. c. Have acquired more than one subsidized housing unit (e.g., HDB flat, DBSS flat, or EC) previously. Minimum Occupation Period (MOP): If you or any of your essential family members own an HDB flat, DBSS flat, or EC, you must have met the MOP of 5 years before applying for a new EC. What the Future of This Development Looks Like If you are looking for a family-orientated community, this investment is the right choice for you. The perfect blend of accessibility, amenities, and green living, makes it a highly sought-after development for first-time homebuyers and upgraders alike. With its strategic location, modern living features, and potential for capital appreciation, Bukit Batok EC is set to become an attractive investment for both families and young professionals seeking a comfortable and contemporary living space. Want to Know More? Finding the perfect home can be really difficult when there are so many to choose from and people to work around. That’s why many first-time buyers approach me to get the best deal in the market for their property! If you are interested to know more about the property market or want to work with somebody, be sure to reach out to us!

For any first-time homebuyer in Singapore, the process of purchasing a condominium can be quite intimidating. There are many factors to consider, including the down payment, which is a significant 6-figure amount of financial commitment. But don’t worry! In this article, we will explore everything you need to know financially before getting a condo in Singapore, including how much you need to put down and tips for saving up to get you on track to own a condo for your own. Buying a Condo in Singapore Excited? Buying a condo in Singapore is a significant investment, but it is also an excellent opportunity to own a piece of property in a prime location. Only about 17% of property in Singapore is condo and 4.9% of it is landed. That means if you were to own a private property in Singapore, you could count yourself as the top 20% of the population! SWEE!!! Condos offer a convenient and luxurious lifestyle, with access to amenities such as swimming pools, gyms, and 24-hour security. So if you want a quiet home, with no weirdo throwing flyers into your doorstep, or getting unnecessary doorbell rings, you might want to consider a condo. However, the process of buying a condo can be complicated, and it is essential to understand the costs involved. How Much Do You Need to Put Down? In Singapore, the required upfront payment for a condo is 25% of the purchase price(based on May 2023). Minimum Amount Required The minimum amount required for a condo in Singapore is 5% of the purchase price, but this is only applicable to properties that are valued at $1 million, the minimum required is 25% of the purchase price. Factors Affecting the Down Payment Several factors can affect the down payment for a condo in Singapore, including the type of property, the loan amount, and the LTV ratio. If you are taking out a bank loan, your credit score and financial history will also be taken into account. To understand more about your credit score and financial history, you can contact your bank and request a financial statement to find the maximum amount of loan you’re eligible for. Additionally, the down payment may be higher if you are a non-Singaporean citizen or if you are purchasing a property under government schemes such as the Executive Condominium (EC) scheme. If this section worries you, do contact us and we will understand your situation and provide solutions. Understanding the Payment Schedule When buying a condo in Singapore, it is essential to understand the payment schedule. The down payment is typically paid in stages, with the first payment due upon signing the Option to Purchase (OTP) and the remaining payments due at various stages of the construction process. The exact payment schedule will depend on the developer and the project. Financing Options If you are unable to come up with the full down payment, there are several financing options available. One option is to take out a personal loan, but this can come with high interest rates. While you may be able to take a good amount of loan, it is considered risky to ever have to take up a personal loan. Another option is to tap into your Central Provident Fund (CPF) savings. Singaporeans and Permanent Residents can use their CPF Ordinary Account savings to pay for a portion of the down payment, but this will reduce their retirement savings. However, if you are in your early 20s or 30s, you can consider using your CPF since retirement is still years away from it. Lastly, consider asking family members for a loan or gift to help with the down payment. In an Asian household, I’m sure parents or family members are more than willing to support you to take the first step toward independence. Mistakes to Avoid When making a condo down payment, there are several mistakes that you should avoid. Firstly, don't use all of your savings for the down payment, this can leave you vulnerable in the event of an emergency. You should still have the minimum 6 12 months of emergency funds saved up. Secondly, do not take out a personal loan with high interest rates(can go over 20% interest😵‍💫), as this can lead to financial strain in the long run. In our current high-interest rate environment, taking on a bad mortgage loan could mean disaster. So take the time to find the best loan that's right for you. Lastly, do not rush into a purchase without doing proper research, as this can lead to a poor investment. It is a large financial commitment that spans over 5+ years, and you need to make sure you are ready for it. Is a Condo Down Payment Worth It? I hope this article helps you get a better understanding of the down payment requirements and concerns. It's not an investment to be treated lightly. Buying a condo in Singapore is a significant investment, and the down payment is a crucial part of the process. While the down payment can be a significant financial commitment, it is worth it in the long run, as condos offer a luxurious and convenient lifestyle. By understanding the down payment requirements and following the tips outlined in this article, you can make an informed decision and achieve your goal of owning a condo in Singapore. Want to Know More? Finding the perfect home can be really difficult when there are so many to choose from and people to work around. That’s why many first-time buyers approach me to get the best deal in the market for their property! If you are interested to know more about the property market or want to work with somebody, be sure to reach out to us!

Choosing the right luxury condo means taking a lot of considerations into account. There is a lot to think about, from location and features to price and ways to pay for it. The key issue we notice for first-time buyers looking to buy executive condos is how complicated the process is. Buying an executive condo isn't as simple as walking into the showroom and picking the property you would like to get. Checklist You Need Before Buying an Executive Condo Whether you're a first-time buyer or an owner with a lot of experience, this article will give you useful information to help you make a smart choice. So, let's get started and talk about the most important things you should keep in mind as you look for your perfect executive home. 1] Location, Location, Location It matters for everything! The site of an executive condo is one of the most important factors in deciding how desirable and convenient it will be. No matter how great the layout and sizing of the property may be, the key consideration of a property will always be how great the location is. Think about the following things: Why it's Important for Parents to Choose the Right Location When it comes to signing up our kids for primary school during the P1 Registration time every year, Singaporeans are known for being very kiasu. Parents would always want their kids to get into the best schools, schools in Singapore prioritize based on: Singaporean Citizens (SCs) living within 1km of the school SCs living between 1km and 2km of the school SCs living further than 2km from the school Permanent Residents (PRs)* living within 1km of the school PRs living between 1km and 2km of the school PRs living further than 2km from the school To increase the odds of getting into a prestigious school, parents are more likely to spend more on their kids' education. For Working Adults If you don’t wish to drive, having accessible transportation means being able to travel less to get to work and also more time to enjoy being at home. This is probably the major plus point that buyers are looking for. According to EdgeProp, properties near MRT are able to command a 15% premium as compared to similar properties that might be further away. So if the extra 5 to 10 min walk is not for you, then investing slightly more for a property is the right choice for you! For Retiree For those looking for retirement, having an abundance of amenities is a major plus for them. Having amenities such as healthcare services and a community center to participate in could be something to look out for. 2] Amenities The “extras” that come with an executive condominium can make your life a lot better. Keep an eye out for the following: Condos features Many executive condos have a variety of amenities, like swimming pools, gyms, tennis court, party rooms, and BBQ pits. These features can help you relax, meet new people, and stay active without leaving the comfort of your own house. Recreational Spaces Think about how close parks, jogging paths, and green areas are. Being close to these recreational places can give you the chance to do things outside and get closer to nature. Places to visit nearby Check to see if there are any popular tourist spots, cultural sites, or places to have fun near the executive home. Living near these places can make your life more exciting and full of life. 3] Community Different communities have different vibes and serve different kinds of people. Some might be good for families because they have schools and parks, while others might have a more active nighttime and entertainment scene. Picking a place to stay has a level of "vibe" in it. If it suits you, then great! 4] Growth Potential Of course if you are investing in a property, you want to make money right? Executive condominiums (ECs) are very popular with HDB upgraders because they are affordable and can be a good investment. Even though new ECs are set up and decorated just like private homes, they cost about 20–30% less than private condos. After 10 years of TOP(temporary occupation period), executive condos are treated as private properties. This means that foreigners are eligible to buy, making the demand for executive condominiums even higher. 5] Eligibility While the idea of getting an EC may seem like the best deal in the market for most. Sadly, it is not for everyone.😥 Given how profitable an EC can be, it does have a number of measures need to be taken to apply for the property. If you would like to apply for an EC, be sure to check out our article on “How to Check if You are Eligible for an Executive Condo”. Picking What’s Best for You To choose the right luxury condo, you need to think carefully about a number of important factors. You'll be able to make a good choice if you look at the location, amenities, price, financing options, and other important factors that are covered in this guide. Remember to do thorough research, visit showrooms, and talk to real estate professionals to find the executive condo that fits your wants and preferences. Start looking for your dream executive apartment right away.

As the population continues to grow, the demand for housing in Singapore increases. Condominiums have become an increasingly popular choice for many Singaporeans due to their excellent facilities, prime location, and lifestyle benefits. However, when it comes to choosing between an executive vs private condo, it can be challenging to decide which one is better for you. Both are great investments catered towards audience that best fit the product. In this blog post, we will discuss the difference between the two and which one might be the better option for you. Why Condos are Popular in Singapore Condos are designed for residents who want to enjoy the benefits of a community lifestyle, such as access to various amenities and facilities such as swimming pools, gyms, and BBQ pits. In Singapore, condos are becoming increasingly popular, especially among young professionals, families, and expatriates. Owning such properties makes you the top 20% of the population. With that, it's no wonder people are eyeing for such properties! These days, the younger generation is looking for a more peaceful and relaxed environment for them to live in since more work is moving towards remote. This means that a condo is a highly desirable property for the younger generation to dream of owning. The Difference between an Executive and a Private Condo One of the main differences between an executive and a private condo is the eligibility criteria for purchasing them. Executive condos; or EC are designed for middle-income individuals who are Singaporean citizens or permanent residents. These condos are built by private developers but are subsidized by the government to make them more affordable. There are certain eligibility criteria that need to be met before one can purchase an EC. On the other hand, private condos have no restrictions on who can purchase them. Anyone can buy a private condo as long as they can afford it. Private condos are typically more expensive than EC due to their location and facilities. Another significant difference between the two is the period of time before the condo can be sold to foreigners. EC can only be sold to Singaporean citizens or permanent residents for the first ten years, while private condos can be sold to foreigners immediately. Pros and Cons of EC ECs have their fair share of advantages and disadvantages. One of the main benefits of an EC is how affordable it is compared to a private condo. As mentioned earlier, EC are subsidized by the government, making them more affordable for middle-income individuals. Another advantage of an EC is that it has facilities and amenities similar to a private condo. These facilities include swimming pools, gyms, BBQ pits, and function rooms. Additionally, EC are typically located near MRT stations, making commuting easier for residents. However, one notable disadvantage of an EC is the eligibility criteria. As mentioned earlier, only Singaporean citizens and permanent residents are eligible to purchase EC. Additionally, there are certain income requirements that need to be met, and buyers are only allowed to own one subsidized property at a time. Pros and Cons of Private Condos Private condos, on the other hand, have their own set of advantages and disadvantages. One of the main benefits of a private condo is the flexibility it offers. Private condos have no restrictions on who can purchase them, and owners can sell them to anyone they choose. Additionally, private condos typically have a higher resale value than EC. Another advantage of a private condo is the level of privacy it provides. Since private condos are not subsidized by the government, there are typically fewer units in the development, which means less crowding and more privacy for residents. However, one of the main disadvantages of a private condo is the price. Private condos are typically more expensive than EC, and the cost of maintenance and facilities is higher as well. Additionally, private condos are usually located in prime areas, which means residents may have to pay higher taxes and utility bills. Factors to Consider Before Buying a Condo Yeah it's not as easy as it seems When deciding between an EC and a private condo, there are several factors you need to consider. Firstly, you should consider your eligibility to purchase an EC. If you do not meet the eligibility criteria, then a private condo may be your only option. Secondly, you should consider your budget. If you are on a tight budget, then an EC may be the better option for you. However, if you have the financial means, then a private condo may be a better investment in the long run. Lastly, you should also consider the location of the condo. Both EC and private condos can be located in prime areas, but private condos are typically more expensive due to their location. If you prefer a more central location and are willing to pay a premium, then a private condo may be the better option for you. Cost Comparison between EC and Private Condos ECs are more affordable than private condos due to their government subsidy. The cost of a private condo can vary depending on its location, size, and facilities. For example, a three-bedroom EC in Punggol may cost around 1.2 million. However, a three-bedroom private condo in a prime location such as Orchard Road may cost around $3 million. It is essential to note that the cost of a condo is not just limited to the purchase price. There are additional costs such as maintenance fees, taxes, and utility bills that need to be taken into consideration. Property Investment Potential of ECs & Private Condos When it comes to property investment potential, both EC and private condos have their advantages and disadvantages. EC are typically less expensive than private condos, making them more accessible to first-time buyers. Additionally, EC have a lower entry barrier, which means they have a higher potential for capital appreciation. Private condos, on the other hand, have a higher resale value due to their location and facilities. Private condos located in prime areas are always in demand, making them a viable investment option for those who can afford them. Future Prospects of EC and Private Condos The future prospects of EC and private condos are promising. With the government's continued efforts to provide affordable housing for middle-income individuals, EC will continue to be in demand. Additionally, the rise of new townships such as Punggol and Sengkang will provide opportunities for more EC to be built. Private condos, on the other hand, will continue to be in demand due to their location and facilities. As more foreigners and expatriates move to Singapore, the demand for private condos will only increase. Additionally, the government's efforts to attract foreign investments will provide more opportunities for private condos to be built in prime locations. EC vs. Private Condo? The decision between an EC and a private condo ultimately depends on your eligibility, budget, and location preference. If you are a middle-income individual looking for an affordable option with similar facilities to a private condo, then an EC may be the better option for you. When making your decision, it is essential to consider all factors and do your research to ensure you are making an informed decision. If you are interested to know more about the property market or want to work with somebody, be sure to reach out to me!

As of the latest government guidelines, the income ceiling for EC(executive condominiums) is set at $16,000 per month for households. This EC income ceiling applies to both first-time buyers and second-time applicants who meet certain eligibility conditions. The income ceiling serves as a benchmark to ensure that EC ownership remains within reach of the intended target group. Income ceiling limits for different types of households The income ceiling limits can vary depending on the composition of the household. The income ceiling limits for ECs in Singapore vary depending on the composition of the household. The government has established different income thresholds to cater to households of varying sizes and structures. Single Singles who are Singapore citizens can qualify for an EC if their monthly income does not exceed the income ceiling set for singles. The current income ceiling for singles is $7,000 per month. Couples Couples applying for an EC have a higher income ceiling compared to singles. The income ceiling for couples is typically set at a higher amount to accommodate the combined income of both individuals. Currently, the income ceiling for couples is $14,000 per month. Families Families with different family nucleus compositions, such as couples with children or multigenerational families, also have specific income ceiling limits. The income ceilings are set to consider the needs and financial capacities of households with dependents. The current income ceiling for families is $16,000 per month. It is important to note that the income ceiling limits mentioned above are subject to changes and should be verified with the latest government guidelines when considering an EC purchase. These income ceilings serve as a means to ensure that EC remain accessible to households within specific income brackets. Exceptions and Variations to the Income Ceiling Rules In certain cases, exceptions and variations to the income ceiling rules may be allowed. For instance, families with members who have disabilities may be eligible for higher income ceilings. Additionally, some EC projects may have specific income ceiling criteria based on their location or development characteristics. It is essential for potential buyers to be aware of these exceptions and variations when considering an EC purchase. Is the EC Income Ceiling Frightening? Finding the perfect home can be really difficult when there are so many to choose from and people to work around. That’s why many first-time buyers approach me to get the best deal in the market for their property! If you are interested to know more about the property market or want to work with somebody, be sure to reach out to me!

From excellent healthcare to a world-class education system, Singapore has consistently been ranked as one of the best places to live in the world. However, when it comes to choosing a specific neighborhood to call home, it can be overwhelming to navigate the different options available. While many foreigners agree that they love the East Side's more active lifestyle. Living in the West in Singapore also has a lot of untapped adventures and popular food stalls that are not widely shared on the Internet. In this article, I would like to dive deep into the potential of what the West has to offer. Breaking down whether you should or shouldn’t consider staying in the West. Life of Living in the West in Singapore Singapore is divided into 5 regions: Central, East, North, North-East, and West. Each region has its own unique feel and offers different advantages and disadvantages. The Central region is the most expensive and highly sought-after area, while the East is popular among expats due to its proximity to the airport. The North and North-East regions are quieter and more family-oriented, while the West offers a great balance between convenience and affordability. West is Best When it comes to ranking the best places to live in Singapore, it really depends on your personal preferences and needs. If you're looking for a convenient and central location, the Central region is the way to go. However, if you're looking for a more affordable option, the West is a great choice! Cost of Living in the West Compared to Other Parts of Singapore As mentioned earlier, the cost of living in Singapore is relatively high compared to other cities in Southeast Asia. However, the West is generally more affordable than other regions in Singapore. Housing prices in Jurong East and Jurong are more reasonable than those in the Central region, making it a great option for those on a budget. Amenities and Attractions in the West There has been much construction going on in the West, especially in the heart of it; Jurong East. The development and expansion of more shopping districts in Jurong have led to an increase in the value of property prices around the area. There are currently four different shopping malls interconnected to each other. They are IMM, JEM, West Gate, and Jcube. Public Transportation in the West - MRT and Bus Routes Singapore has an efficient public transportation system, and the West is well-connected to the rest of the city via the MRT and bus routes. Jurong East is a major transportation hub, with multiple MRT lines and bus routes passing through the area. This makes it easy to get around the city without a car. Healthcare and Education in the West Singapore has an excellent healthcare system, and there are many hospitals and clinics located in the West. The National University Hospital is located in Clementi and is one of the top hospitals in the country. Additionally, there are many schools in the area, including the prestigious Nanyang Technological University. New Launches Available Right Now Now if you are excited to live in the West, here are a few private condominiums for you to look out for: Altura EC Altura EC is an upcoming executive condominium development located in the heart of the mature town of Bukit Batok, Singapore. With its close proximity to numerous amenities, excellent connectivity, and lush green surroundings, it is no wonder that this development has become highly sought after by first-time homebuyers and upgraders alike. Lake Garden Residences Lake Garden Residences is a prime example of luxury living, offering the perfect blend of modern architecture and lush green surroundings. Nestled near a serene lake, these residences provide a tranquil escape from the urban hustle and bustle, while still offering easy access to city amenities. The design of Lake Garden Residences prioritizes comfort, convenience, and sophistication. Each residence is meticulously crafted with high-quality materials and finishes, reflecting a refined aesthetic that is both modern and timeless. The open-concept floor plans promote a sense of spaciousness and allow for ample natural light, enhancing the overall living experience. In addition to their well-appointed interiors, Lake Garden Residences also boast a range of communal amenities designed for relaxation and recreation. These include beautifully landscaped gardens, a state-of-the-art fitness center, a swimming pool, and a clubhouse. For those who prefer outdoor activities, the nearby lake offers opportunities for boating, fishing, and picnicking. Furthermore, the strategic location of Lake Garden Residences ensures that residents are never far from daily necessities. Shopping malls, restaurants, schools, and healthcare facilities are all within easy reach. Meanwhile, the tranquil lake setting offers an idyllic backdrop for those who value peace and quiet. In conclusion, Lake Garden Residences offer a unique living experience that combines urban convenience with natural beauty. The thoughtfully designed residences and top-notch amenities contribute to an environment where residents can enjoy the best of both worlds - city living without compromising on comfort and tranquility. Whether you're looking for a family home or a peaceful retreat from city life, Lake Garden Residences could be your ideal choice. Pinetree Hill Pinetree Hill Residence will be located in an upmarket region, offering a near-city life experience without the hustle and bustle of a city center. With the better-improved infrastructure in District 21, it is now way easier to access to nearby amenities through major roads, MRT stations, and bus services. Residents can enjoy proximity to schools, hospitals, restaurants, and entertainment joints, with most establishments being less than 2km away. Furthermore, the condominiums will boast elegant and sophisticated finishing from renowned developers UOL Group and SingLand. J'Den J’Den is a newly launched mixed-use development developed by CapitalLand. The private property is located at the heart of the JLD(Jurong Lake District) where most transformation around the area will be happening. Set to TOP in 2027, no doubt that J’Den will be the most popular property around JLD for its great location. If you are a partygoer, a working adult working within the area, a buyer who loves to enjoy great amenities, or simply an investor who’s looking for capital appreciation. Looking to Stay in the West? With excellent amenities, attractions, and public transportation, the West is a great option for anyone looking to live in a vibrant and exciting city. So, if you are interested to know more about the property market or want to work with somebody, be sure to reach out to me!

Executive Condominiums, or ECs, are a unique and increasingly popular housing option in Singapore. To put it simply, ECs are an affordable middle ground between public Housing and Development Board (HDB) flats and fully private condominiums. Catering to the rising aspirations of Singaporeans who desire private property but may find private condominiums too expensive, that's the reason why EC are gaining traction in the market. They are well-known as the “best investment property for Singaporeans”. Why Get an EC? If you are looking for more privacy while also not burning a hole in your wallet, ECs are basically the opportunity for Singaporeans to look into. The Singapore government subsidizes the price of ECs and allows the use of certain CPF housing grants, making them more affordable for the average Singaporean. ECs are primarily targeted at households who earn between 16,000 per month, with an income ceiling of $16,000. Why are they different from Private Properties? EC are considered HDB properties for the first 10 years. Therefore, they are governed by certain HDB rules, similar to HDB flats. These rules include a 5-year Minimum Occupation Period (MOP) before the property can be sold or rented out, an income ceiling of $16,000 per month, and restrictions on property ownership within the last 30 months. Why are they more Affordable? ECs are generally more affordable than private condominiums due to their subsidized land prices and less accessible locations, often situated further away from existing MRT stations and malls. They are typically located in the Outside Central Region (OCR) and are about 25% to 30% cheaper than similar private condominiums at launch. While that may seem like a negative point about owning an EC, many investors typically don’t mind that since they are looking for a more peaceful environment. Eligibility & Rules for Buying an EC The rules for buying any EC are a lot stricter since it’s more premium than owning an HDB. To purchase an EC, potential buyers must meet certain eligibility requirements. These include: Citizenship: At least one applicant must be a Singapore Citizen, while the other applicants can be Singapore Citizens or Singapore Permanent Residents. Age: Applicants must be at least 21 years old. Family Nucleus: Applicants must form a family nucleus, either as a family, a couple, or a single person. Income Ceiling: The combined gross monthly household income of the applicants must not exceed $16,000. Property Ownership: Applicants must not own or have disposed of any property in Singapore or overseas within the last 30 months and must not have bought an EC, HDB, or DBSS flat or received housing grants before applying for an EC. Since ECs are considered more exclusive, it is harder to get also for couples since the price of an EC can be a lot steeper. Financing an EC When buying an EC, buyers must consider the various financing options and restrictions that apply. Bank Loans Only While ECs are considered HDB properties in the first decade, they can only be financed through a bank loan. This means that the Loan-to-Value (LTV) limit, or the maximum amount that can be borrowed, is capped at 75% of the property price. Downpayment With a bank loan, EC buyers are required to pay the remaining 25% as a down payment, with 5% being paid in cash and the other 20% being paid using CPF Ordinary Account savings or cash. Debt Servicing Ratios For EC purchases, both the Total Debt Servicing Ratio (TDSR) and Mortgage Servicing Ratio (MSR) apply. The TDSR limits the amount of income used to pay for all debts, while the MSR caps the proportion of monthly income used for mortgage repayments at 30%. CPF Housing Grants for EC EC buyers may be eligible for CPF housing grants, such as the Family Grant and the Half-Housing Grant. However, the applicant's monthly gross income must not exceed $12,000 to qualify. The amount of grant received also depends on the applicant's citizenship and income range. How Much Does an EC Cost? With the rise of inflation and property marketing expanding, the cost of a 1 bedder ECs starts at 1.2 million whereas a 1 bedroom HDB can cost from $150,000 up to $400,000. While the cost may greatly differ, many young Singaporeans still prefer to own a 1 bedder ECs since it offers many amenities and the opportunity to own a condominium. How Much Do You Need to Earn to Buy an EC? To afford an EC, potential buyers must consider their income, debt servicing ratios, and available financing options. In general, it is possible to afford an EC with a monthly income below $10,000, especially if the buyer chooses a smaller unit in a more budget-friendly area. Application Process for EC The application process for ECs involves the following steps: Check eligibility and financing options. Research and shortlist EC projects based on location, budget, and preferences. Submit an application for the desired EC project, along with the necessary documents and application fee. If successful, book the desired unit and pay the down payment. Secure a bank loan and finalize the purchase agreement. Complete the legal and financial procedures, including payment of Buyer's Stamp Duty and other taxes. Collect the keys and move them into the EC. Second-Timer Considerations: HDB Resale Levy Second-timers who have previously purchased an HDB flat and are upgrading to an EC must take into account the HDB resale levy. The resale levy is payable when a buyer sells a subsidized home and buys another subsidized flat or EC. The amount to be paid depends on the previous housing type. Our Take EC offer an attractive and affordable housing option for Singaporeans who desire private property but find private condominiums too expensive. With a range of projects available and various financing options, ECs provide a viable alternative for those looking to upgrade their homes. By understanding the eligibility requirements, financing options, and application process, potential buyers can make informed decisions and find the perfect EC to suit their needs and preferences. Want to Know More? Finding the perfect home can be really difficult when there are so many to choose from and people to work around. That’s why many first-time buyers approach me to get the best deal in the market for their property! If you are interested to know more about the property market or want to work with somebody, be sure to reach out to me!

Singapore is known for its diverse housing options, catering to the needs of its residents. One such option is the Executive Condominium, commonly referred to as EC. EC is a unique housing category in Singapore. Private developers develop and sell them but are subject to certain government regulations to ensure affordability. As a result, EC offer features and amenities similar to private condominiums, making them an appealing choice for aspiring homeowners. If you are looking for a more affordable luxury home, then owning an EC might just be the right choice for you! Criteria for EC To qualify for EC ownership, prospective buyers must meet several eligibility criteria. These criteria encompass income, citizenship, family nucleus, property ownership, and minimum occupation period (MOP). These criteria have actually been a lot tougher these days to fulfill. Hence, the competition to get an ECs has been widely known as an exclusive property for richer people. Income Ceiling for EC Eligibility The income ceiling is one of the primary factors determining eligibility for EC. It refers to the maximum gross monthly household income allowed for a family to purchase an EC. The income ceiling varies based on the household type, such as singles, couples, or families with children. It is periodically reviewed and adjusted by the Housing and Development Board (HDB) and the Urban Redevelopment Authority (URA). For example, as of 2023, the income ceiling for an EC is $16,000 for families. This means that the total monthly household income of the applicants must not exceed this limit. The income ceiling ensures that EC remain affordable for middle-income households. Citizenship and Family Nucleus Requirements Apart from income, EC eligibility is contingent upon citizenship and family nucleus. At least one of the applicants must be a Singapore citizen, Singapore Permanent Resident (PR), or a foreigner under the Non-Citizen Spouse Scheme. In addition, different family nucleus types are eligible, including couples, families with children, and single parents. It's important to note that the family nucleus must meet certain requirements, such as the relationship between applicants and age restrictions for children. These requirements aim to promote family cohesion and prioritize housing allocation to families in need. Ownership of Other Properties EC eligibility is also influenced by the ownership of other properties. Applicants must not own any other residential properties locally or overseas within 30 months before the EC application. This regulation prevents individuals from accumulating multiple properties and ensures that EC is primarily targeted at first-time homebuyers or upgraders from public housing. Minimum Occupation Period (MOP) Every EC comes with a minimum occupation period (MOP) set by the government. The MOP is the duration during which the unit cannot be sold or rented out. This regulation encourages stability and community formation within EC. As of 2023, the MOP for EC is five years. Once the MOP is fulfilled, homeowners have the flexibility to sell their units on the open market or rent it out. Key Considerations for EC Buyers Buying a property isn't just any other product, you are investing A LOT OF MONEY! Take your time to really think through. When considering the purchase of an EC, there are several important factors to keep in mind. Financial planning and affordability should be a priority, as EC involve substantial financial commitments Assessing your long-term goals, what is going to happen to you over the next 5 to 10 years Understanding the housing market trends will help you make an informed decision Application and Balloting Process for EC To secure an EC unit, prospective buyers must go through the application and balloting process. The application involves providing necessary documents, such as: Income statements Identification proof All within the specified period. This is why the application process aren't that long and closed off period happens in a matter of days! Subsequently, a ballot is conducted to determine the allocation of units, as demand often exceeds supply. It's essential to submit the application on time and explore tips and strategies to increase your chances of a successful balloting outcome. Financing Options for EC Buyers Financing an EC purchase involves mortgage loan eligibility and the usage of Central Provident Fund (CPF) savings. Banks and financial institutions assess factors such as income, credit history, and debt obligations to determine loan eligibility. CPF savings can be utilized for the down payment and monthly payments, subject to certain withdrawal limits. Additionally, buyers should be aware of other costs and fees, such as stamp duty and legal fees, associated with the purchase. To ensure a smooth transition, you may want to consider meeting with a real estate agent to discuss potential financial commitments. A reliable real estate agent will provide you with the proper guidance as to how to transit each step of the way. Pros and Cons of ECs Before you place the bid on an EC, here are the pros and cons of owning an EC. Advantages of Buying an EC The most obvious reason why buyers are looking to get ECs is the low barrier to entry price compared to private condominiums. This makes it more affordable for middle-income households. EC also provide access to a range of facilities, including swimming pools, gyms, and playgrounds. Furthermore, there is potential for capital appreciation over time, given Singapore's robust property market. Limitations of EC Ownership While EC have their advantages, there are certain limitations to consider. During the minimum occupation period (MOP), owners have restrictions on reselling their units. This limitation affects individuals who may need to sell their property due to changing circumstances. Secondly, renting out the unit during the MOP is not permitted, which can restrict rental income opportunities. That means you would have to pay the monthly deposit for at least 5 years before you can consider turning it into a rental property. Lastly, transitioning from an EC to a private property may involve certain limitations and additional costs. It can be quite a headache hence investors would rather look into getting private property directly instead. Comparison of ECs and Public Housing (HDB) It is valuable to compare ECs with public housing offered by the HDB. Public housing provides affordable housing options for Singaporeans, and EC bridge the gap between public housing and private condominiums. Key differences include ownership regulations, affordability, and amenities. Understanding these distinctions will help you decide based on your preferences and financial capabilities. Conclusion In conclusion, EC eligibility in Singapore requires meeting specific criteria related to income, citizenship, family nucleus, property ownership, and minimum occupation period. Prospective buyers must assess their eligibility and consider various factors before making a decision. While EC offer an affordable and attractive housing option, it's crucial to understand the benefits, limitations, and financial considerations associated with EC ownership. Want to Know More? Finding the perfect home can be really difficult when there are so many to choose from and people to work around. That’s why many first-time buyers approach me to get the best deal in the market for their property! If you are interested to know more about the property market or want to work with somebody, be sure to reach out to me! FAQs Can Permanent Residents (PRs) buy EC in Singapore? Yes, PRs are eligible to purchase EC in Singapore. Is there a maximum income ceiling for EC eligibility? Yes, there is a maximum income ceiling based on household type, which is periodically reviewed and adjusted. Can singles apply for EC? Yes, singles can apply for EC, provided they meet the eligibility criteria. What happens if I exceed the minimum occupation period (MOP) for my EC? Once the MOP is fulfilled, homeowners have the flexibility to sell their units on the open market or rent it out without restrictions. Is EC subject to a resale levy like public housing? No, EC are not subject to resale levies like public housing, allowing homeowners to sell their units without additional costs.