Is Executive Condominium Still Worth Buying in Singapore?
Executive Condominiums, often referred to as ECs, have always occupied a unique position in Singapore’s property market. First introduced in 1996, ECs were created as a hybrid housing model that provides condominium style living at a more affordable entry price while retaining certain HDB eligibility conditions during the initial years. Nearly three decades later, many prospective buyers are asking the same question: Is an Executive Condominium still worth buying today?
To understand the answer, we need to look at how EC prices and unit sizes have changed over the years. The first EC launched was Eastvale in Pasir Ris in 1996. With 312 units, prices then ranged from $290 to $564 per square foot (psf). For example, a 3-bedroom unit measuring 1,959 square feet (sqft) was sold for $568,200, which worked out to just $290 psf.
In 2010, Prive Executive Condominium was launched in Punggol with 680 units. Its launch prices ranged from $502 psf to $736 psf. This represented a jump of about 73% at the entry level compared to Eastvale, and around 31% higher at the top end. A 3-bedroom at Prive ranged from 1,001 to 1,603 sqft, priced between $622,800 and $838,120. 4-bedroom units ranged from 1,313 to 1,765 sqft, selling between $839,700 and $942,300.
The most recent launch was Aurelle Executive Condominium in Tampines in February 2025. Its prices ranged from $1,650 to $1,882 psf, which represents a 192% increase at the entry level compared to The Prive, and a 155% increase at the higher end. However, while prices have climbed significantly, unit sizes have moved in the opposite direction. At Aurelle, a 3-bedroom unit ranges from 840 to 947 sqft, with prices from $1,417,000 to $1,739,000. A 4-bedroom unit ranges from 1,022 to 1,206 sqft, priced from $1,712,000 to $2,210,000. This is noticeably smaller than the layouts offered at Prive, despite the higher price tags.
Why have EC prices gone up so dramatically while unit sizes have become smaller? Several factors explain this. Land costs have risen steadily, especially due to strong competition during government land sales. The Covid 19 pandemic and ongoing global conflicts have also caused sharp inflation in construction materials and manpower costs. Combined, these factors have pushed developers to launch EC projects at much higher prices than before. For a deeper understanding of how land prices affect the market, you can read my earlier article “How Increasing Land Cost Affects the Property Market.”
So, is an Executive Condominium still worth buying despite the higher prices and smaller layouts? Market demand seems to suggest yes. Aurelle at Tampines was fully sold out within a short period, reflecting the strong appetite for ECs. They remain the most affordable entry point into private housing for many Singaporean families, and once the 5-year Minimum Occupation Period is over, ECs often see healthy capital appreciation when they become available for resale and eventually fully privatised.
Moreover, ECs are a privilege purchase available only to Singaporean citizens. Foreigners and couples made up of two Permanent Residents are not eligible to buy an Executive Condominium. This exclusivity makes ECs even more attractive to Singaporeans who are seeking an affordable way into private housing while enjoying the benefits of long term capital growth.
Ultimately, the decision to buy an EC is not a simple yes or no. The right choice depends entirely on your specific financial situation, your family’s needs, and your long-term property goals. The market data can tell us where prices have been and where they might be headed, but it cannot tell you what you can afford, what your loan eligibility is, or which specific unit type is the best fit for you. To navigate this complex landscape and make a truly informed decision, you need a personalized analysis.
Do you want to know if an Executive Condominium is the right next step for your property journey? Contact me for a complimentary, no-obligation consultation to receive a tailored analysis and a strategic plan to secure your dream home.
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