Executive Condominium EC Complete Buying Guide 2025 Cost Guide: Fast Overview
If you want a quick answer: in 2025, a typical new 3-bedroom executive condominium (EC) in Singapore costs about $1.3M–$1.95M, with buyers needing at least 25% downpayment (5% cash, 20% cash/CPF) and to meet strict MSR 30% and TDSR 55% rules.[2][4] Ongoing costs include buyer’s stamp duty (BSD), potential Additional Buyer’s Stamp Duty (ABSD), legal fees, interest, and monthly maintenance, which can add another 4–7% of the purchase price over the first few years.[2][4]
This cluster guide focuses on the Executive Condominium EC Complete Buying Guide 2025 Cost Guide—the numbers behind buying an EC in Singapore, how to budget safely, and what hidden costs to expect. For a full end-to-end overview of EC Singapore eligibility, booking procedures, and timelines, refer to Homejourney’s main pillar guide: Executive Condominium (EC) Complete Buying Guide 2025 – Homejourney Singapore Executive Condominium (EC) Complete Buying Guide 2025 – Homejourney Singapore .
What Exactly Is an EC (and Why Costs Matter More in 2025)?
An executive condominium is a public–private hybrid: it is sold by private developers but regulated by HDB in its first 10 years, with grants and eligibility rules similar to HDB, then becomes fully private after 10 years.[1][2][4] ECs usually come with full condo-style facilities—pool, gym, function rooms—but are typically priced about 15–20% below comparable private condos at launch.[3][4]
In 2025, ECs are especially important for the “sandwich class” buyers who exceed BTO income ceilings but find private condos increasingly expensive. Government land supply for ECs is limited, so launches like Novo Place in Tengah, Lumina Grand in Bukit Batok, and North Gaia in Yishun see strong demand and rapid take-up.[2][5] As someone who regularly views showflats in the West and North, I’ve seen weekend queues form even before e-applications open—so having your cost plan ready before launch is critical.
2025 EC Price Snapshot: What You’re Really Paying
Typical 2025 EC Price Ranges
Recent market data for 2025 shows:[2][4][5]
- New launch EC price (psf): about $1,300–$1,700 psf depending on location and project.
- Typical 3-bedroom new EC: around $1.3M–$1.95M in 2025.[4]
- Resale EC (older than 5–10 years): often starts from around $800,000 for smaller units in non-central areas.[4]
From my own viewing experience, a 3-bedder at Lumina Grand (Bukit Batok) in mid floors is generally quoted around the mid-$1.4M to low-$1.6M range, while units closer to MRT-adjacent projects or with unblocked views tend to push closer to or beyond the upper band. In Northern estates like Yishun’s North Gaia, psf is typically on the lower side compared to West-side projects, but overall quantum can still cross $1.4M for larger 3-bedders.[5]
EC vs Condo: High-Level Cost Comparison
EC Eligibility & Loan Rules That Affect Your Budget
Core EC Eligibility (Cost-Related)
Key EC eligibility items that directly shape your budget:[1][2][4]
- Citizenship: At least 1 Singapore Citizen (SC) + at least 1 other SC or Singapore PR.
- Income ceiling: Household income ≤ $16,000 per month for new ECs.
- Family nucleus: Must apply under an HDB scheme (Public, Fiancé/Fiancée, etc.).
- Property ownership: No private property ownership in the last 30 months, and limited past subsidised housing usage.[1][3][4]
If you’re close to the income ceiling (e.g. dual-income professionals in their 30s earning $7,000–$8,000 each), you must be careful about bonuses and variable income when submitting documents; developers and banks will follow HDB and MAS guidelines strictly, and overstating income may reduce your loan due to TDSR/MSR calculations, not increase it.
Loan-to-Value, MSR & TDSR for EC Singapore
ECs use bank loans only (no HDB loan). Key MAS rules in 2025 include:[2][4]
- Maximum Loan-to-Value (LTV): typically up to 75% if you have no other housing loan and meet credit criteria.
- Mortgage Servicing Ratio (MSR): housing instalment for EC ≤ 30% of gross monthly income (since ECs are treated like HDB for MSR).[2][4]
- Total Debt Servicing Ratio (TDSR): all debts (housing, car, card, loans) ≤ 55% of gross monthly income.[2][4]
In practice, this means if you are servicing a car loan or have substantial credit card instalments, your maximum EC loan may be significantly lower than what online calculators show. Always cross-check with bank advisors—Homejourney’s mortgage and bank rate tools Bank Rates can help you compare safe borrowing limits across banks before you commit at the showflat.
Full 2025 EC Cost Breakdown: From Booking to Move-In
1. Upfront Purchase Costs (New EC)
For a new EC bought under the normal progressive payment scheme, expect these main upfront components:[1][2][4]
- Option Fee – 5%
Payable when you book the unit at the showflat. This must be in cash or CPF, depending on the developer’s requirements, but commonly 5% cash is required before signing the Sale & Purchase (S&P) Agreement.[1][2] - Remaining Downpayment – 20%
Upon signing the S&P (usually within 3 weeks), you must top up to a minimum 25% total downpayment (5% already paid + 20% from cash/CPF).[1][2][4] - Buyer’s Stamp Duty (BSD)
BSD is payable on the higher of the purchase price or market value, based on IRAS’s tiered rates. For a $1.6M EC, BSD alone can easily cross mid five-figures. Budget this in cash or CPF. - Additional Buyer’s Stamp Duty (ABSD)
Most first-timer EC buyers pay no ABSD. But if you are buying an EC while still owning another property, ABSD may apply at residential rates (which differ by citizenship and property count). For complicated cases, speak to a conveyancing lawyer or financial advisor. - Legal & Conveyancing Fees
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