Condo vs EC 2026: Price, Loans, MOP and Resale Compared

Apartment blocks with balconies behind green trees — A new EC costs about 27% less per square foot than a suburban condo. Photo: Danist Soh on Unsplash

At a glance

Price gap: New ECs S$1,837 psf vs new OCR 99-year condos S$2,503 psf (median, 1Q2026)
Who can buy: EC: citizen households earning up to S$16,000 (S$18,000 on newer sites). Condo: anyone, with ABSD
Loan test: EC: MSR 30% plus TDSR 55%. Condo: TDSR 55% only. Both tested at 4%
Resale: EC: 5-year MOP, then citizens and PRs until year 10 (10 and 15 years for land sold from May 2026). Condo: sell any time
Grants: EC: up to S$30,000 CPF Housing Grant for first-timers. Condo: none

The short answer

If you qualify for an EC and can handle the cash, an EC gets you a similar condo-style home for roughly a quarter less per square foot. A private condo makes more sense if your income is above the EC ceiling, if you want to keep your HDB flat, or if you may need to sell within the next 5 to 10 years.

The trade-off comes down to four things:

Price. New ECs sold at a median S$1,837 psf in the first quarter of 2026, against S$2,503 psf for new 99-year condos in the Outside Central Region (OCR), according to PropNex data reported by EdgeProp. That is about 27% less.
Loan size. EC loans are capped by the 30% Mortgage Servicing Ratio (MSR). Condo loans only face the 55% Total Debt Servicing Ratio (TDSR). A household can often borrow far more for a condo.
Exit. An EC cannot be sold for 5 years, and only to citizens and PRs until year 10. For ECs on land tendered from 8 May 2026 it is 10 and 15 years.
Eligibility. You need a citizen-led household earning S$16,000 or less (S$18,000 on the newest sites), with no private property in the last 30 months.

For the full rules on buying an EC, see our executive condominium guide.

EC vs condo at a glance

	New EC	Private condo (99-year, OCR)
Median new-sale price, 1Q2026	S$1,837 psf	S$2,503 psf
Who can buy new	Citizen with a citizen or PR family member, or citizen singles aged 35+	Anyone (foreigners pay 60% ABSD)
Income ceiling	S$16,000 a month; S$18,000 for land tendered from 24 Aug 2026	None
Private property in last 30 months	Not allowed	No restriction
Owning an HDB flat	Must sell within 6 months after completing the EC purchase	Citizen households can keep it after MOP and pay 20% ABSD
Loan tests	MSR 30% and TDSR 55%, at 4%	TDSR 55%, at 4%
Maximum bank loan	75% of price, if MSR allows	75% of price, if TDSR allows
Grants	CPF Housing Grant up to S$30,000 for first-timers	None
Deferred Payment Scheme	Allowed on the last old-rule ECs; removed for land tendered from 8 May 2026	Generally not offered
Minimum occupation	5 years (10 for land tendered from 8 May 2026)	None
Open to foreign buyers	After 10 years (15 under new rules)	Always

The price gap per square foot

The gap is real, but it has narrowed. PropNex figures quoted by EdgeProp show:

Period	New EC median	New OCR condo median	EC discount
2025 (full year)	S$1,754 psf	S$2,252 psf	about 22% (condos 28% higher)
1Q2026	S$1,837 psf	S$2,503 psf	about 27%

Huttons data quoted by EdgeProp in 2025 tells a longer story: a decade ago new ECs were about 32% cheaper than new OCR condos, a gap of S$376 psf. By end-April 2025 the percentage gap had shrunk to 26%, though in dollars it had grown to S$613 psf because prices on both sides rose.

Recent launches sit around the median. Coastal Cabana in Pasir Ris sold 67% of its 748 units on its January 2026 launch weekend at an average of S$1,734 psf. Rivelle Tampines sold all 572 units within about a month of its March 2026 launch.

Eligibility: the EC hurdles

A condo has no eligibility test beyond ABSD. A new EC from the developer has several:

At least one buyer must be a Singapore citizen, applying with a citizen or PR family member, or with other citizen singles who are all 35 or older.
Total household income must not exceed S$16,000 a month. New units in ECs whose land tender closed on or after 24 August 2026 allow S$18,000. Balance units and the upcoming Senja Close, Woodlands Drive 17 and Sembawang Road launches stay at S$16,000.
No one listed can own private residential property, here or overseas, or have sold one in the past 30 months.
If anyone owns an HDB flat, it must be disposed of within 6 months after completing the EC purchase.
If you have already taken two housing subsidies, you cannot buy.

Households who fail any of these, typically higher earners or people who own a condo already, have only the private market.

Loans: MSR vs TDSR

This is the difference most buyers underestimate. Both tests use a 4% interest floor set by MAS, regardless of the rate you actually pay.

MSR limits the home loan repayment to 30% of gross monthly income. It applies to HDB flats and to ECs still within their MOP.
TDSR limits all debt repayments, including car loans and credit cards, to 55% of gross monthly income. It applies to every property loan.

An EC buyer faces both, and the 30% MSR almost always bites first. A condo buyer faces only TDSR, so with no other debts, almost twice as much income can go to the mortgage.

Side by side: same household, same 900 sq ft

Assumptions: a married couple, both citizens and first-timers, earning S$15,000 a month with no other debts. They compare a 900 sq ft three-bedroom at each segment’s 1Q2026 median, with a 30-year loan.

	EC at about S$1,833 psf	Condo at about S$2,500 psf
Price	S$1,650,000	S$2,250,000
Limit that applies	MSR: S$4,500 a month at 4%	75% LTV (TDSR would allow more)
Bank loan	about S$942,600 (57% of price)	S$1,687,500 (75% of price)
Down payment from CPF and cash	about S$707,400	S$562,500
Buyer’s stamp duty	S$52,100	S$82,100
Upfront total, before legal fees	about S$759,500	S$644,600
Stress-test repayment at 4%	S$4,500 a month	about S$8,056 a month (54% of income)
Grant	Nil (income above S$12,000)	Nil

The EC is S$600,000 cheaper but needs about S$115,000 more upfront, because the MSR caps the loan. The condo needs less cash on day one but commits the couple to a mortgage nearly twice the size, at more than half their income under the stress test.

Households that are upgrading from an HDB flat usually cover the EC’s larger down payment with their sale proceeds. Our HDB to condo upgrading guide works through those numbers, and the mortgage calculator lets you change the price, rate and tenure.

Resale restrictions

	EC on land tendered before 8 May 2026	EC on land tendered from 8 May 2026	Private condo
Can sell from	Year 5 (after MOP from TOP)	Year 10	Any time
Buyers allowed after MOP	Citizens and PRs	Citizens and PRs	Anyone
Fully private	Year 10	Year 15	Always

Every EC on sale today, and the five upcoming launches under the old rules, follows the first column. The first site under the new rules, Canberra Drive, had its tender close on 1 October 2026, so those units are still some way from launch.

A private condo has no MOP and can be sold to anyone, though seller’s stamp duty applies if you sell soon after buying.

Grants

A condo comes with no housing grant. First-timer families buying a new EC can get the CPF Housing Grant:

Household income	Citizen couple, both first-timers	Citizen and PR couple	Citizen first-timer and second-timer couple
Up to S$10,000	S$30,000	S$20,000	S$15,000
S$10,001 to S$11,000	S$20,000	S$10,000	S$10,000
S$11,001 to S$12,000	S$10,000	Nil	S$5,000

The grant is paid into your CPF Ordinary Account and must be refunded with interest when you sell. Check your amount with our HDB grant calculator.

ABSD

The rates are the same for both: 0% for a citizen’s first home, 20% for a second and 30% for a third. PRs pay 5%, 30% and 35%. Foreigners pay 60% and cannot buy a new EC at all.

The difference is timing for HDB upgraders. MOF has said married couples with at least one citizen who buy a new EC get their ABSD remitted upfront, because HDB already requires them to sell the flat. Couples who buy a private condo before selling their flat pay the 20% upfront and claim it back only if they sell the flat within 6 months. On a S$2.25 million condo, that is S$450,000 you need to find first. Our stamp duty calculator shows both duties for any price.

Long-term gains after privatisation

Old-rule ECs have rewarded owners who held through the MOP. EdgeProp’s June 2025 analysis of URA data found:

Hundred Palms Residences launched in July 2017 at an average of S$836 psf and sold out on the first day. After its MOP ended in December 2024, more than 60 units resold, 15 of them at gains above S$1 million. Huttons put the average profit at about S$934,000, and the best resale reached S$2,001 psf.
Bishan Loft, completed in 2003, recorded a resale at S$1,727 psf in 2025 on a unit bought in 2001 for about S$444 psf.

Those gains came largely from buying at a deep discount to nearby condos and then seeing the gap close once the EC was resaleable and later privatised. Two things make that harder for new buyers:

New ECs now launch closer to condo prices than a decade ago, so there is less discount to close.
Under the new rules you wait 10 years to sell and 15 years to sell to anyone, so the money is tied up longer.

A private condo bought at full price has no such lock-in, but historically has not had the built-in discount either. Neither is guaranteed to make money.

Which one fits you

An EC is usually the better buy if:

your household earns S$16,000 or less and has not owned private property in 30 months
you plan to live there at least 5 years (10 for new-rule projects)
you have the cash or HDB sale proceeds to cover a smaller loan
you are first-timers earning up to S$12,000 and can collect the grant

A private condo is usually the better choice if:

your income is above the EC ceiling
you want to keep your HDB flat and can afford 20% ABSD
you may need to sell within the next 5 to 10 years
you want any buyer, including foreigners, to be able to buy from you

Common questions

Is an EC cheaper than a condo?

Yes, per square foot. PropNex data put new ECs at a median S$1,837 psf in the first quarter of 2026, about 27% below the S$2,503 psf median for new 99-year condos in the Outside Central Region. On a 900 sq ft unit that is roughly S$600,000.

Why can an EC need more cash than a condo?

Because of the Mortgage Servicing Ratio. Your EC repayment cannot exceed 30% of income at a 4% test rate, so a S$15,000 household can borrow only about S$943,000, even on a S$1.65 million EC. For a private condo the same household can borrow the full 75% under TDSR, up to about S$1.69 million on a S$2.25 million unit.

Can I sell an EC whenever I want?

No. You must wait out the 5-year MOP, and then you can only sell to citizens and PRs until the EC is privatised at year 10. ECs on land tendered from 8 May 2026 have a 10-year MOP and privatise at year 15. A private condo has no MOP, though seller's stamp duty applies if you sell soon after buying.

Do ECs make money after privatisation?

Many have. Hundred Palms Residences launched in 2017 at an average of S$836 psf and has resold at up to S$2,001 psf; Huttons put the average profit on its resales at about S$934,000. Past results came from buying at a large discount, so they are not a promise for future launches priced closer to condos.

Can I keep my HDB flat if I buy an EC or a condo?

Not with a new EC: you must sell the flat within 6 months after completing the EC purchase. With a private condo, citizen households past the flat's MOP can keep it, but pay 20% ABSD on the condo as a second property.

Get a free valuation

Tell us your block and flat type. We'll send recent prices for your block and nearby blocks, and what a sale would leave you after your loan and CPF refund.

Sources

Facts on this page were checked against these sources on 13 October 2026.