Executive Condominiums (ECs) were introduced in 1995 to “satisfy the demands of those who aspire to own private property but cannot afford to do so”, in the words of then Prime Minister Goh Chok Tong.
30 years on, there’s no denying that the scheme has been a major success. Besides just offering an opportunity to upgrade their lifestyles, EC prices have soared. Especially on the back of the track record that past ECs have delivered.
An admittedly simplistic example to highlight this is comparing an Executive Condominium to a nearby “regular” condominium. One example is between the Signature at Yishun, an EC that gained TOP in 2017 and MOP around 2022, against Skies Miltonia, a regular condominium that gained TOP in 2016.
Looking at listed flats on PropertyGuru, we found a comparable 2-room-2-bath property of similar size – selling at a similar price. The “regular” condominium in this example, the unit at Skies Miltonia, has a lower overall price, but was also smaller and hence carried a higher Price per Square Foot (PSF).
| 2-bed; 2-bath home | TOP | Size | Selling Price | PSF |
| Signature at Yishun | Dec 2016 | 764 sqft | $985,000 | $1,289 psf |
| Skies Miltonia | May 2017 | 721 sqft | $938,000 | $1,301 psf |
Source: PropertyGuru
Read Also: The New Condo Launch Premium: How Much More Are Buyers Paying For The Chance Of An Upside?
How Much Is It To Buy An Executive Condominium?
We look at the cost of buying the most recently transacted EC launch with Aurelle of Tampines. This EC was sold in March 2025 and is located near the upcoming Tampines North MRT station on the Cross Island Line.
Looking at the selling price, we can see that the cheapest unit was an 840 sqft, 3-bed-2-bath home, sold at $1.438 million – translating to a PSF of $1,713. Looking at all the 840 sqft units, we can also see that the most expensive unit was sold at $1.552 million – translating to a PSF of $1,849.
Next, we look at the most expensive unit sold at Aurelle of Tampines. It was a 1,356 sqft unit sold at $2.481 million – deriving a PSF of $1,829. The lowest-cost version of this 1,356 sqft home was sold at $2.258 million – or at a PSF of $1,665.
| Aurelle of Tampines | Size | Selling Price | PSF |
| Cheapest 3-bed-2 bath | 840 sqft | $1.438 million | $1,713 |
| Most expensive 3-bed-2 bath | 840 sqft | $1.552 million | $1,849 |
| Cheapest 5-bed-4 bath | 1,356 sqft | $2.258 million | $1,665 |
| Most expensive 5-bed-4 bath | 1,356 sqft | $2.481 million | $1,829 |
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Cost of Aurelle of Tampines (EC) VS Parktown Residence (“Regular Condo”)
Beside the Aurelle of Tampines EC launch in March 2025, is Parktown Residence condominium – which launched in February 2025. This gives us quite a good comparison.
According to Google Maps, the two sites are 11 minutes walking distance apart. Parktown Residence is sold as a “fully integrated” condominium – which means it will have commercial space (aka a mall) in the development, as well as direct linkage to the upcoming Tampines North MRT station and Tampines North bus interchange.
On the other hand, Aurella of Tampines is also a short walk away from both the Tampines North MRT station and bus interchange – which are located in between the two launches.
Source: Google Maps
As a “mega launch”, Parktown Residence has close to 1,200 units, compared to the 760-unit, Aurelle of Tampines launch. This also means Parktown Residence has more variety in unit size, compared to Aurelle of Tampines – which has 3-bedroom to 5-bedroom units.
We looked for similarly priced units at Parktown Residence, to compare against the cheapest and most expensive units at Aurelle of Tampines.
| Aurelle of Tampines VS Parktown Residence | Size | Selling Price | PSF |
| Aurelle of Tampines: Cheapest 3-bed-2 bath | 840 sqft | $1.438 million | $1,713 |
| Aurelle of Tampines: Most expensive 3-bed-2 bath | 840 sqft | $1.552 million | $1,849 |
| Parktown Residence: 2-bed-2 bath | 678 sqft | $1.549 million | $2,284 |
| Aurelle of Tampines: Cheapest 5-bed-4 bath | 1,356 sqft | $2.258 million | $1,665 |
| Aurelle of Tampines: Most expensive 5-bed-4 bath | 1,356 sqft | $2.481 million | $1,829 |
| Parktown Residence: 3-bed-3 bath | 1,065 sqft | $2.35 million | $2,205 |
| Parktown Residence: Most expensive unit | 1,679 sqft | $4.408 million | $2,411 |
From this comparison, we can see that the Aurelle of Tampines is priced lower than Parktown Residence on a PSF basis.
We can also observe that the 1,356 sqft unit is a 5-bed-4 bath flat at the Aurelle of Tampines, is priced similar to a 3-bed- 3 bath unit at parktown Residence. This is an attractive entry price for those who want to live in a private property.
Of course, we also have to take into consideration that Parktown Residence is an integrated development and will not come with the initial restrictions that buyers of EC units have to comply with – including eligibility conditions such as the $16,000 salary ceiling and having a Singapore citizen buyer, as well as staying out the 5-year MOP before being able to sell or rent.
Read Also: Guide To New Singapore Condominium Launches In 2025
More Difficult To Own The EC Compared To The “Regular Condominium”
The difficulty in owning an Executive Condominium (EC) mainly comes from having to qualify for the $16,000 salary ceiling and their monthly loan repayment have to be within the Mortgage Servicing Ratio (MSR) cap of 30%.
The salary ceiling rules out many high-earning families in the first place. However, the MSR being capped at 30% on a maximum salary of $16,000 translates to $4,800. Repaying $4,800 a month means you can only qualify for a loan of about $1.04 million at an interest rate of around 2.6% today.
For the household who bought the most expensive $2.258 million unit at Aurelle of Tampines, they would have only qualified for a loan of $1.04 million. This means they had to pay a downpayment of at least $1.218 million for their home – or about 54% of the property price. If they were earning less than the absolute maximum salary ceiling, they would have to fork out an even heavier downpayment.
For someone who buys a similarly priced unit at Parktown Residence beside it, they have no salary cap. Furthermore, they can also put up to 55% of their salary towards the property home loan – having to adhere to the Total Debt Servicing Ratio (TDSR) cap instead of the MSR cap.
They have put down the minimum downpayment of 25%, worth $388,000. Almost 60% less compared to what they would have to put down if they bought a similarly priced unit at Aurelle of Tampines – at $1.04 million.
However, this similarly priced unit will be a 2-bed-2 bath at Parktown Residence, rather than a 3-bed-2 bath at Aurelle of Tampines.
Finally, to show how skewed the downpayment schedule is for ordinary folks, the person who bought the most expensive unit at Parktown Residence, at $4.408 million, has to pay a minimum downpayment of $1.102 million. This is just a shade higher than the person buying a unit worth close to half the price at the EC.
Read Also: Why The $16,000 EC Income Ceiling For EC May No Longer Makes Financial Sense
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