The prices of executive condominiums in Singapore have been rising steadily in recent years, driven by the limited supply of newly launched ECs.
According to Singapore Business Review, in 2022, the average price was S$1,329 per square foot , and by the first nine months of 2024 , it had risen to S$1,460 psf.
SRI also pointed out that half of the EC units sold in 9M24 were priced between S$1,500 psf and S$1,600 psf.driven by the perceived value and strategic location of these developments.” This growing interest in ECs is not limited to new launches but extends to the resale market as well. SRI explained that the limited supply of new ECs and regulations like the five-year Minimum Occupation Period and the ten-year privatisation rule have helped narrow the price gap between new and resale ECs.
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