Executive Condominium (EC) resale eligibility criteria in Singapore have specific requirements for prospective buyers. To be eligible, applicants must be Singapore citizens who are at least 21 years old and have an average household income of not more than SGD$14,000 per month for the past 12 months before application. Additionally, applicants cannot own or have disposed of a flat after March 31, 2021, nor can they own any residential property/ies locally or abroad, or have disposed of such properties. If applicants already own a flat but are waiting to dispose of it, they may still be eligible if the disposal is not for personal AGI (Annual Group Income) reasons and they have disposed of the flat within three months after getting the keys to the new EC. Only two candidates from each family can apply, and only one application can be made at any point. Applicants must also satisfy the Occupier's Panel requirements, which involve selling at least 95% of the units in the development to eligible first-timers.
In summary, the recent trends in Executive Condo (EC) resale prices indicate a stable market with potential for growth. Prospective buyers and investors interested in ECs should be aware of the unique eligibility requirements associated with purchasing these residences. The analysis of price movements over the past years reveals insights into the demand-supply dynamics, which are crucial for informed decision-making. As the landscape of residential property evolves, understanding the intricacies of EC resale prices remains key for those looking to invest or upgrade their homes under this housing scheme.
