Executive Condominiums (EC) were 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.
Sale of ECs in Open Market
EC owners may sell their apartment in the open market after complying with the minimum occupation period of 5 years from the Temporary Occupation Period (TOP) date.
CPF Housing Grant
The CPF Housing Grant is a housing subsidy (in the form of CPF monies) provided by the Government. The grant assists eligible first-timer family to buy an EC from the developer. Receive up to $30,000 CPF Housing Grant for eligible first-time buyers.
There are certain criteria that you need to meet before you can qualify to purchase an EC, including age, citizenship, family nucleus, income ceiling, ownership of other properties etc. Do ensure that you meet these criteria before committing to a purchase.
More information is available on HDB's website.
Alternatively, you may call me to find out more.