Singaporeans and permanent residents looking to purchase an Executive Condominium (EC) must meet certain eligibility criteria. These include being at least 21 years old with a minimum average monthly household income of $14,000 over the past 12 months for at least one applicant, or own, or have applied to buy, only one flat from HDB. Eligible families can apply for an EC with a maximum loan-to-value (LTV) ratio of 75% initially, which will progressively increase up to 85% once the unit is at least 10 years old, subject to guidelines set by financial institutions. These homes offer a hybrid ownership model that combines the benefits of both public and private housing, allowing for resale after a minimum occupation period of five years, with the option to upgrade to a private residence if desired.
