12 Freshly MOP-ed and Most Profitable Resale Executive Condos of 2020

Executive condos (or ECs) are a kind of public-private housing hybrid that becomes increasingly attractive upon hitting the five- and 10-year mark. Find out why, and check our list of freshly MOP-ed and most profitable resale condos of 2020.
bishan loft resale ec

“Affordable luxury” may seem like an oxymoron, but sometimes luxuries are affordable. An example is the HDB Executive Condominium (EC), which were introduced to cater to the aspirations and needs of the sandwich class, whose household incomes exceeded the ceiling for public housing (HDB flats), but still couldn’t comfortably afford a private property. 

Executive condominiums became the custom-fit between public and private housing reflecting both government-subsidised pricing and the comforts of a private condominium. Over the years, ECs have struck a fine balance between providing the latest amenities and smart-home trends while also maintaining their cost-effectiveness, making them a sought-after buy.

ECs start their life cycle as low-cost public housing, usually located further away from the city, but featuring typical condo facilities like swimming pools, landscaped gardens, gyms, BBQ pits and more. 

However, their resale is most enticing, especially when they complete their Minimum Occupation Period (MOP) of five years and when they hit their 10-year mark. Upon five and 10 years of their completion, most restrictions on ECs get lifted away and they become a bid for capital appreciation. 

 

The appeal of Executive Condos (ECs)

ECs are built and sold by private developers but are 25% to 30% lower in price compared to private condominiums. This is because the Urban Redevelopment Authority (URA) allocates land for such subsidised residential dwellings based on the Government Land Sales (GLS)

For ECs, 70% of the homes are earmarked for first-timers during the developer’s initial launch period. Also, for the first 10 years since the Temporary Occupation Period (TOP), only Singaporeans and Singaporean Permanent Residents (PRs) are allowed to purchase them. 

Built-to-Order (BTO) flats are usually the first choice for a home that a couple gets together. However, if a couple’s combined income is below the EC income ceiling of $16,000 and they wish to enjoy other facilities at their doorstep, purchasing an EC becomes a more viable option. Further in the bargain, buyers can use the CPF housing grants to offset some of the costs, provided all eligibility criteria set by the Housing and Development Board are met.

The above reasons make ECs a good option for own-stay purposes, but what about those hoping to sell or rent out their property?  

EC units can be sold to Singaporeans/ PRs after completing the five-year MOP. 

An EC needs to complete a Minimum Occupation Period (MOP) of five years before it can be sold to Singaporeans and PRs in the open market, or can even be rented out as a whole unit. The low initial selling price of an EC fosters greater capital appreciation within the first five-years of its launch. 

A study conducted by Squarefoot revealed that the price gap between a private condo and a nearby executive condo can narrow substantially after the latter has met its five-year MOP, creating an increased demand for resale ECs.

After 10 years, executive condos essentially become “private property” 

After completing 10 years, ECs can be sold or rented to foreigners in the open market.

The return on investment on privatised ECs depends on the holding period, the location of the property, the surrounding supply and how much rent a property can yield. Upon privatisation, EC units can be ramped up for sale or rent to foreigners, and if the rental income or sale price surpasses the holding costs, the ECs can achieve high capital appreciation. 

Similarly, investment owners who purchase an EC pay attention to whether a property can reap good returns in rent based on the surrounding supply and location. An EC could outperform a nearby private condo if the price gap between the two narrows to as little as 5%

Besides these, some ECs that were bought at the boom period before the Asian financial crisis, also, managed gains of over 20% upon privatisation. Thus, privatised ECs are considered long-term investments, which enable owners to achieve substantial capital gains. 

 

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So why buy a resale Executive Condo (EC)?  

Now, based on the above, buying a new launch EC from HDB at a subsidised price sounds like a good idea. So why do some home buyers opt for resale ECs that are five (or 10) years old instead? 

1. No MOP for resale ECs

Well, firstly, there is no Minimum Occupation Period (MOP). This gives homeowners the flexibility to move as early as a good opportunity presents itself. 

2. Resale ECs are closer to becoming private

Next, five-year-old resale ECs are closer to full privatisation. This is not so relevant to own-stay properties, but is particularly beneficial for those looking for investment opportunities to sell or rent to the foreigner market. 

3. Can keep your current HDB flat 

Also, if you already own an HDB flat and you don’t want to give it up, you can’t buy a new EC. You can, however, buy a resale one. Do note that you still need to have met the MOP of your previous HDB flat, and the Additional Buyer’s Stamp Duty (ABSD) applies for the resale EC, which is considered your second property. 

4. Resale ECs are already built and completed 

Lastly, resale ECs are already completed and more or less move-in ready. New launch condos take years to build, and you can’t inspect the place before paying. Resale ECs are better for those who need a new home quickly, and like to do a physical viewing before committing to the purchase. 

 

Resale ECs reaching MOP in 2020 

With that, here are some resale ECs that fulfil their MOP this year. 

1. The Tampines Trilliant

Resale executive condo name

The Tampines Trilliant

MOP date

06 Feb 2020

District 

18

EC price range

S$ 945,000 - S$ 1,99,000

 

The Tampines Trilliant is an EC with a total of 670 units, located closest to the Tampines MRT. The closest bus stops are located at The Tampines Trilliant, Citylife @Tampines, Poi Ching Primary School, Tampines MRT and after Tampines Station. 

Browse The Tampines Trilliant EC properties for sale on PropertyGuru.

 

2. The Rainforest 

Resale executive condo name

The Rainforest

MOP date

06 Mar 2020

District 

23

EC price range

S$ 850,888 - S$ 2,180,000

The Rainforest is within a five minutes' walk to Choa Chu Kang MRT station and is well connected to the North-South and Downtown MRT Lines. 

Browse The Rainforest EC properties for sale on PropertyGuru.

 

3. Twin Waterfalls

Resale executive condo name

Twin Waterfalls

MOP date

02 Jun 2020

District 

19

EC price range

S$ 880,000 - S$ 1,680,000

Twin Waterfalls comprises around 12 blocks of 17-storey towers, hosting 728 residential units in total. Twin Waterfalls is located a 10-minute walk away from Punggol MRT Station along the North-East Line.

Browse Twin Waterfalls EC properties for sale on PropertyGuru.

 

4. 1 Canberra

Resale executive condo name

1 Canberra

MOP date

19 Sep 2020

District 

27

EC price range

S$ 880,000 - S$ 2,300,000

An executive condo with a total of 665 units. The closest bus stops are located at Yishun Sapphire, Darul Makmur Mosque, Yishun Primary School and Canberra Station. 

Browse 1 Canberra EC properties for sale on PropertyGuru.

 

5. Heron Bay 

Resale executive condo name

Heron Bay

MOP date

07 Oct 2020

District 

19

EC price range

S$ 930,000 - S$ 2,600,000

Heron Bay consists of 394 total units, available in layouts ranging between 2 to 5-bedroom apartment suites. Heron Bay is located around 1.7 km away from Hougang MRT Station along the North-East Line.

Browse Heron Bay EC properties for sale on PropertyGuru.

 

6. Waterwoods 

Resale executive condo name

Waterwoods

MOP date

01 Dec 2020

District 

19

EC price range

S$ 788,000 - S$ 1,680,000

Waterwoods comprises 373 units spread over 6 blocks of 17 floors each. Waterwoods is conveniently located a stone’s throw away from Coral Edge MRT station.

Browse Waterwoods EC properties for sale on PropertyGuru.

 

Most profitable resale ECs having completed 10 years

By the same token, here’s a list of fully privatised and most profitable resale ECs in the market.

 

bishan loft resale ec

1. Bishan Loft

Resale executive condo name

Bishan Loft

Date it becomes ‘private’ 

26 Sep 2013

District 

20

EC price range 

S$ 1,460,000 - S$ 1,780,000

Capital Gain (annualised over 8 years)

1.89%

This EC project at Bishan Street comprises 384 units. Completed in 2004, Bishan Loft is near Bishan MRT station, Bishan Junction 8 shopping mall and Macritchie Reservoir Park. 

Browse Bishan Loft EC properties for sale on PropertyGuru.

 

2. The Dew

Resale executive condo name

The Dew

Date it becomes ‘private’ 

19 Jul 2013

District 

23

EC price range 

S$ 1,068,000 - S$ 1,755,000

Capital Gain (annualised over 8 years)

1.70%

The Dew is a development located at 30 Bukit Batok Street 21, in District 23, just minutes aways from Bukit Batok MRT Station. The Dew comprises 248 units and is close to Bukit Batok Nature Park and Bukit Timah Nature Reserve.

Browse The Dew EC properties for sale on PropertyGuru.

 

3. The Esparis

Resale executive condo name

The Esparis

Date it becomes ‘private’ 

26 Sep 2013

District 

18

EC price range 

S$ 950,000 - S$ 1,900,000

Capital Gain (annualised over 8 years)

1.11%

The Esparis is located at 7 Pasir Ris Drive 4, in District 18, a few minutes ride to Pasir Ris MRT station. Completed in 2006, it has a total of 10 storeys and comprises 274 units. 

Browse The Esparis EC properties for sale on PropertyGuru.

 

4. The Eden @ Tampines

Resale executive condo name

The Eden @ Tampines

Date it becomes ‘private’ 

16 Apr 2013

District 

18

EC price range 

S$ 850,000 - S$ 1,800,000

Capital Gain (annualised over 8 years)

0.96%

The Eden @ Tampines is located at Tampines Street 34. The location is very close to the Simei MRT station. 

Browse The Eden @ Tampines EC properties for sale on PropertyGuru.

 

5. Westmere

Resale executive condo name

Westmere

Date it becomes ‘private’ 

27 Feb 2009

District 

18

EC price range 

S$ 820,000 - S$ 1,150,000

Capital Gain (annualised over 8 years)

1.06%

A high-rise condominium development project that is located in District 22, closest to the Chinese Garden MRT station. It is also a 12-minute walk from Jurong East MRT.

Browse Westmere EC properties for sale on PropertyGuru.

 

6. Simei Green

Resale executive condo name

Simei Green 

Date it becomes ‘private’ 

28 Apr 2009

District 

22

EC price range 

S$ 950,000 - S$ 1,150,000

Capital Gain (annualised over 8 years)

0.90%

The property is medium-rise with 11 floors and 602 units. It is a family-themed facility with 3 or 4 bedrooms in each unit and variable bathrooms. The property is close to amenities like NTUC Fairprice (Eastpoint), NTUC Fairprice (Hyper Changi Biz Park), and NTUC Fairprice (Tampines Blk 107).

Browse Simei Green EC properties for sale on PropertyGuru.

 

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This article was written by Manasi Hukku. Manasi likes to cover the intersection between research and relevance to help readers find a place they'll love. She is a UX Conversation Designer, Medium Columnist and mother of two.

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