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More EC Units Resold For at Least $1M Profit in 2024

Source: Straits Times

The number of executive condominium (EC) units resold for at least $1 million in gross profit has surged in 2024, more than doubling from 15 in 2023 to 38. Research highlights that rising demand, prime locations, and limited EC supply have contributed to this trend. The EC resale market saw a record-breaking transaction of $2.6 million for a penthouse at Bishan Loft, showcasing the strong profit potential for EC owners. The steady appreciation in EC values reflects a growing pool of buyers who recognize ECs as an attractive investment and home-stay option.

ECs remain highly desirable due to their affordability compared to private condominiums, making them an ideal choice for first-time buyers and HDB upgraders. Government financing policies, such as the Mortgage Servicing Ratio (MSR) and Total Debt Servicing Ratio (TDSR), allow more buyers to enter the market. Additionally, ECs offer strong capital appreciation as they transition into full private condominiums after 10 years, making them a profitable long-term investment.

With their private condo-like facilities at a more accessible price point, ECs serve as an excellent option for both home-stay and investment. Buyers benefit from potential capital gains, structured financing options, and government grants, enhancing affordability. The strong demand for new ECs, such as Aurelle at Tampines, reflects their lasting appeal, with new launches seeing high take-up rates. Given the limited EC supply, homeowners can expect steady appreciation, reinforcing ECs as one of the best real estate investments in Singapore.