1 Answer

Hi,

Main differences:
new EC is priced typically 20% cheaper than comparable new condos
new EC requires family nucleus, income not to exceed 12K and theres also grant for 1st timer.
new EC requires physical occupation of 5 years, you can only start selling thereafter.
new ECs are mainly in the outskirts of Singapore, ie Punggol, Woodlands, Jurong etc.
new EC purchase means you have to sell your HDB (if any) when you collect EC keys. for private you can hold both HDB and condo if you plan ahead.

Their loan structures are governed by different policies.

If you are ok with the outskirts location, and plan to stay for long-term, and will be ok with selling your HDB (if applicable) ECs are definitely a good choice since you have a headstart of a cheaper price. If not, private condos will likely be a better choice.

Thanks and may I understand your housing requirements further before value-adding further?

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com
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