Executive Condo Singapore (2022): 4 Upcoming ECs We Can Expect  

Executive Condominiums (ECs) combine the subsidised prices of Government housing with condo facilities and the promise of privatisation after 10 years.

Due to the pandemic, there has been a clear shift in consumption patterns towards bigger and more affordable homes, particularly amongst first-time buyers and millennials. ECs, being a good fit for this market segment, have experienced rising demand and prices.

So, what EC launches can we expect in 2022?

New EC Launches in 2022

ECs enjoyed strong demand in 2021, with best-selling EC Parc Greenwich selling 65% of its units during its launch weekend.

Despite the robust demand, there is still some inventory from the 2021 launches that has yet to be sold. However, the number of unsold EC units is trending downwards, and as of August 2021, more than 90% of EC units launched since 2017 had been sold.

In 2022, there are already two confirmed launches, North Gaia and Tengah Garden Residences. There are also two upcoming projects in the works for which details are not yet available. The first, at Tampines St 62, will be a joint project by Qingjian and Santarli. The site for the second, at Bukit Batok West Ave 8, is up for tender until 8 March 2022.

New EC: North Gaia (Yishun Ave 9)

The 616-unit EC project North Gaia will be located at Yishun Ave 9 on a 221,515 sqm plot of land bounded by Yishun Ave 8 and Yishun Ave 6. It will be developed by Sing Holdings into 11 14-storey blocks.

In terms of connectivity, North Gaia is about 18 minutes’ walk from nearest MRT station, Yishun. Many of the neighbourhood’s amenities, such as Yishun Bus Interchange and Northpoint City, are clustered around the MRT station.

North Gaia itself is also about 7 minutes’ walk from Junction 9 Shopping Mall, as well as close to schools such as Northland Secondary School, Chongfu School, Yishun Town Secondary School and Xishan Primary School. It also benefits from the proximity of Khoo Teck Puat Hospital and Yishun Community Hospital.

Although you’ll probably need to take a feeder bus to get to the main Yishun Central, the EC project has the advantage of being close to nature, with the Khatib Bongsu Park Connector running very close by, and spots like Sembawang Park and Yishun Dam being less than half an hour’s bicycle ride away. Khatib Bongsu Nature Park, which is currently under development, will be located a stone’s throw from the EC, offering some units stunning views of greenery.

North Gaia is ideal for those who wish to be close to nature and, thanks to work-from-home arrangements, do not mind the long commute to the MRT station or city centre.

Browse North Gaia EC units for sale on PropertyGuru. 

Many roads in Tengah are still under construction.

New EC: Tengah Garden Residences (Tengah Garden Walk)

Tengah Garden Residences will be located at Tengah Garden Walk in the upcoming new neighoburhood of Tengah, which is located to the west of Bukit Batok and currently undergoing development. The 615-unit development, helmed by City Developments and MCL Land, will be comprise 12 14-storey blocks.

When Tengah is fully developed, Tengah Garden Residences will occupy an attractive spot in the neighbourhood, with Tengah Plantation MRT and Hong Kah MRT located within easy walking distance. Both Jurong Region Line MRT stations are expected to open their doors in 2027 or 2028. Tengah Garden Residences will also be located near a bus interchange and medical facilities.

Do note that Tengah is currently at an early stage of development, and residents will have to wait for established amenities to take root, as well as put up with many years of construction.

Until Tengah has fully grown into its own as a neighbourhood, residents will likely make frequent trips to Jurong East, which is home to many major shopping malls like Jem and Westgate.

As Tengah Garden Residences will only reap the benefits of location many years into the future, the EC launch is suitable for young families with kids who are willing to ride out the early years of construction.

Can’t wait for Tengah? Check out other condos for sale near Bukit Batok. 

New Tampines St 62 EC

A new EC launch at the 23,799 sqm site on Tampines St 62 is expected this year, courtesy of developers Qingjian and Santarli.

The nearest MRT is currently Pasir Ris, which is about 26 minutes’ walk away. Connectivity will improve when Tampines North MRT opens in 2030 (about 4 minutes’ walk away).

The project will enjoy easy access to Tampines Eco Green as well as neighbouring Pasir Ris, which offers easy access to the seaside via Pasir Ris Beach. It is also located not far from IKEA Tampines and the Giant Hypermarket next door.

While the Tampines St 62 EC offers the chance to purchase an affordable home in a mature estate, it is located on the outskirts of the neighbourhood, and buyers will have to wait until 2030 before public transport connections improve.

Like the Tampines area? Browse more condos in Pasir Ris and Tampines. 

New Bukit Batok West Ave 8 EC

The 12,500 sqm plot on Bukit Batok West Ave 8 is up for tender until 8 March 2022. The site is about 18 minutes’ walk from nearest MRT Bukit Gombak, and about 22 minutes’ walk from Bukit Batok MRT and amenities like West Mall. The EC site will also be located a stone’s throw from the upcoming Tengah estate, which is currently undergoing development.

In terms of amenities, the EC project is in a quiet area next door to the sprawling Bukit Batok Hillside Park and about 6 minutes’ walk from Le Quest Shopping Mall. 

At the moment, the site doesn’t score full marks for accessibility due to its distance from the nearest MRT. But it can be a good option for those who wish to enjoy access to nature and want to benefit from the development of future amenities in Tengah.

Check out other condos for sale near Bukit Batok. 

HDB Upgraders: New Executive Condominium vs Resale HDB Flat Prices

Can’t decide whether an EC or resale flat would be a better buy? Let’s compare.

For the purposes of this comparison, we have used the resale prices of 5-room flats built in 2012 and after. For EC estimated prices, we have used current listings on PropertyGuru (where available).

As you can see from Yishun, on the lower end of the scale, ECs can be quite competitively priced compared to HDB flats. The more expensive EC units, on the other hand, can be more than twice the price of an HDB 5-room flat.

Unfortunately, there is limited data on Tampines and Bukit Batok. 

ECs have the advantage of being resellable on the private property market after 10 years. However, they are more often than not located in less-than-prime locations that are far from MRT stations (when first built, anyway). For buyers, it is thus a question of whether they prioritise location and value for money over condo amenities.

More FAQs about Executive Condos in Singapore

When Do ECs Become Private Condos?

ECs become privatised after 10 years, when they can be sold to Singaporeans and foreigners. 

Who is Eligible to Buy ECs?

EC eligibility requirements are similar to those for HDB flats, with a higher household ceiling of $16,000.

What CPF Housing Grants Can EC Buyers Get?

EC buyers are eligible for the Family Grant and Half-Housing Grant (subject to other criteria).

For more property news, resources and useful content like this article, check out PropertyGuru’s guides section. 

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This article was written by Joanne Poh. A former real estate lawyer, she writes about property and personal finance and spends her free time compulsively learning languages and roller skating in carparks.