One key difference is that buying a new executive condominium (EC) from a developer requires meeting the eligibility criteria such as the income ceiling, family nucleus requirements, and restrictions on private property ownership. Buyers may also enjoy housing grants under certain conditions.
However, when an EC has already fulfilled its Minimum Occupation Period (MOP) of 5 years, it can be sold in the open market; buyers of such resale ECs do not need to meet the same initial eligibility criteria or income ceiling. Beyond 5 years but before the 10th year, the EC is partially privatised and can only be sold to Singapore Citizens or Permanent Residents. After 10 years from its Temporary Occupation Permit (TOP), the EC becomes fully privatised and may then be sold to any buyer (including foreigners).
