Costs of Buying an Executive Condominium

Costs involved are:
  • Purchase Price
  • Stamp Duty = Purchase Price x 3% – $5,400 (if purchase price <= $1 million) OR
    Stamp Duty = Purchase Price x 4% – $15,400 (if price between $1,000,001 to $1.5M) OR
    Stamp Duty = Purchase Price x 5% – $30,400 (if price between $1,500,001 to $3M) OR
    Stamp Duty = Purchase Price x 6% – $60,400 (if purchase price above $3M)
  • Legal fees . Approx $2,800 to $3,500.
  • Bank admin & valuation fees (if taking loan) . Less than SGD$1,000.
No agent commissions or fees. ECs are also not affected by Additional Buyers Stamp Duty.

For details and floor plans of an executive condominium launch with units available, see: North Gaia EC.


Sources of Funds

  • Minimum 5% must be from your own cash.
  • Housing Grant for 1st timers. See CPF Housing Grant table below for eligibility & amount.
  • Your CPF funds in OA (Ordinary Account).
  • Bank loan. HDB does not give loans for ECs. See Financing below for maximum bank loan quantum.


CPF Housing Grant

SC = Singapore Citizen . SPR = Singapore Permanent Resident

Gross Monthly Household Income CPF Housing Grant SC/SC Household CPF Housing Grant SC/SPR Household Half-Housing Grant ♠
Not more than $10,000 $30,000 $20,000 * $15,000
$10,001 to $11,000 $20,000 $10,000 * $10,000
$11,001 to $12,000 $10,000 $0 * $5,000
Above $12,000 Nil Nil Nil
Only first timers are eligible for this grant. For details, see the EC Eligibility Conditions page.

* If you are from an SC/SPR household, you can enjoy the full housing subsidy by applying for the Citizen Top-Up when your SPR spouse takes Singapore Citizenship or when you have an SC child.

♠ The Half-Housing Grant applies to a first timer applicant applying jointly with a second timer applicant who had previously taken a grant or bought a new HDB flat or EC.


Financing for Executive Condominiums

Financing for executive condominiums are typically from banks or financial institutions as HDB does not loan for ECs.

Government regulations for loans are as follows:
  • Tenor ≤ 30 years + age at end of tenor ≤ 65 = max 75% loan.
    Minimum cash downpayment = 5%.
  • Tenor ≤ 30 years + age at end of tenor is 66 to 75 = max 55% loan.
    Minimum cash downpayment = 10%.
If you require financing, it is advisable to obtain an In-Principle Approval (IPA) in advance before booking a unit. It gives you assurance that you do indeed qualify for a loan, and ascertains the maximum loan you can get so as not to risk forfeiting any of your booking fee.

In addition, for executive condominiums it is possible to obtain 75% loan even if you currently have a housing loan (but not for private property purchases).

Email us below for information on obtaining the IPA (free & without obligation), or for bankers specializing in executive condominiums to advise you on bank rates, loan eligibility & details.


Payment Schedule under Normal Payment Scheme

Payment terms & funding for an EC for those taking 75% loan . Click to Enlarge.

Payment Schedule for ECS Normal Progressive Payments


Payment Schedule under Deferred Payment Scheme

Payment terms for those taking 75% under Deferred Payment Scheme. An EC unit typically costs around 3% more under this option.

If you currently have a mortgage loan outstanding, you may still be able to get 75% bank loan for the new property purchase (subject to bank credit assessment & approval). Click to Enlarge.

Payment Schedule for ECs Deferred Payment

The above is current as of 30 April 2023. While the information here is periodically updated, no guarantee is given that it is correct, complete, and up-to-date. We expressly disclaim all liability for, and damages of any kind arising out of the use, reference to, or reliance on any information provided here. Please counter-check with the relevant authorities.



Bank Loan Eligibility

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