90% of new EC units to be reserved for first-timers, MOP to be raised to 10 years

First-time home buyers applying for an executive condominium (EC) may stand a higher chance of securing their dream home as 90 per cent of new EC units will be reserved for them, up from the current 70 per cent.

The priority period — the time developers must reserve EC units for such buyers before they can sell to all eligible buyers — will also be raised from the current one month to two years. 

These are among changes to the EC scheme announced by Minister for National Development Chee Hong Tat on Friday (May 8) to better support first-time home buyers.

But new EC owners will have to wait 10 years before they can sell their units on the open market, up from the current five-year minimum occupation period (MOP).

And they will have to make progressive payments based on construction milestones, and will no longer be able to defer payment till the development gets its temporary occupation permit (TOP).

Currently, EC buyers can pay 20 per cent of the purchase price upfront while the remaining payment is deferred until the project obtains its TOP.

The changes to the EC scheme will apply to all EC government land sale sites with tenders closing on or after May 8.

ECs were introduced in 1995 to provide a more affordable option for Singaporeans aspiring to own private property. They are strata-titled, and built and sold by private developers with design features and facilities similar to private condominiums.

ECs are cheaper than private condos by 20 to 30 per cent at launch. 

Chee was speaking at the Urban Housing Symposium 2026 organised by the National University of Singapore's Institute of Real Estate and Urban Studies on Friday. 

In his speech, Chee noted that the proportion of first-time buyers for ECs has gradually decreased to 30 to 40 per cent in 2024 and 2025. The proportion of such buyers was about half in 2020.

Meanwhile, between 2021 and 2025, among ECs transacted on the open market, about 75 per cent were sold within five years after their MOP, up from 45 per cent over the preceding five-year period. 

The changes to the EC scheme will therefore prioritise first-timer buyers and focus ECs on occupation needs.

On the supply side, Chee had said in January this year that his ministry expects about 12,000 unit of private housing, including en-bloc redevelopment sites and ECs, to be launched by developers this year. 

This would be similar to the supply in 2025, and is more than 50 per cent higher than the number of units launched in 2024 and in preceding years.

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helmy.saat@asiaone.com