Executive condominiums (ECs) — Singapore’s hybrid public-private housing — are setting new benchmarks in 2025, with new sale prices surpassing S$1,700 psf for the first time. Analysts note that this surge effectively raises the “floor price” for the wider private housing market.
According to caveats data, median new EC prices stand at S$1,754 psf, up 14% from 2024’s S$1,538 psf and more than double 2015’s S$797 psf. Even resale ECs have reached a median of S$1,389 psf, nearly twice their 2015 level — the highest figures since records began in 1996.
💰 Rising Land & Construction Costs
EC price growth is closely tied to escalating land and building expenses.
Huttons Asia’s Lee Sze Teck highlighted that between 2021 and 2024, EC land prices rose nearly 20%, while construction costs surged by a similar margin — pushing average selling prices up 32%.
Competition has also intensified, as developers chase EC plots for stability after cooling measures tightened the private condo segment. In August 2025, two EC Government Land Sales (GLS) sites drew five bids each, with City Developments Ltd setting a record land rate of S$782 psf ppr for a Woodlands site.
📊 Declining Land Supply
Supply constraints continue to pressure prices.
Between 2010–2014, an average of 7.8 EC sites were launched annually, producing 4,227 units — keeping land rates below S$400 psf ppr.
Since 2015, however, the number of EC sites has plummeted to just 2.2 per year, driving the average land rate up to S$748 psf ppr in 2025.
This limited pipeline means fewer opportunities for buyers to access ECs at earlier-cycle prices.
🏡 Firm Demand Amid Rising Prices
Despite cost pressures, buyer demand remains strong.
The latest EC launch — Otto Place in Tengah — sold 351 of 600 units (58.5%) at S$1,700 psf, while Novo Place, also in Tengah, moved 57% of its units at S$1,654 psf.
As of August 2025, only 73 unsold EC units remained islandwide. Singaporeans made up 84% of EC buyers, a sharp rise from 75% in 2020, underscoring the segment’s domestic appeal.
The increase is also linked to the 60% ABSD for foreigners and tighter resale flat eligibility for PRs — factors that are redirecting local demand into the EC market.
🧾 Infographic Highlights
🏗️ Market Momentum
- New EC median price: S$1,754 psf (+14% YoY)
- Resale EC median: S$1,389 psf — highest since 1996
- Average EC profit (projects completed 2019): S$805,805, with 9% annualised gains
🏡 Land & Supply Trends
- EC land cost rose ~20% from 2021–2024
- Annual EC site releases down from 7.8 to 2.2 since 2015
- Record GLS bid: S$782 psf ppr (Woodlands, 2025)
📈 Demand & Buyer Profile
- Otto Place sold 351 units (58.5%) at launch
- Singaporeans: 84% of 2025 EC buyers
- Only 73 unsold EC units remain in the market
💡 Policy & Market Impact
- 60% ABSD deters foreign competition, supports local demand
- Harmonised GFA rules raise transparency but lift psf figures
- ECs remain ~29% cheaper than OCR condos (S$1,762 vs. S$2,275 psf)
💬 Commentary
ECs have always been the “bridge” between public and private housing — but in 2025, they’ve evolved into a strategic entry point for many Singaporeans seeking affordability, long-term capital appreciation, and stability amid rising land costs.
As private condo land rates soar past S$1,300 psf ppr, ECs offer a relatively lower-risk path for buyers still eligible for grants and ABSD remission. Yet, with only a handful of EC sites available each year, supply constraints are now the defining factor shaping future price trajectories.
✅ Summary Highlights
✅ EC prices hit all-time highs in both new sale and resale markets
✅ Land scarcity and developer competition push prices up further
✅ Local buyers dominate demand — 84% of EC purchasers in 2025 are Singaporeans
✅ ECs still ~29% cheaper than OCR condos despite rising costs
✅ Limited land pipeline suggests continued upward pressure into 2026
Looking to understand where EC prices are heading next — or whether upcoming launches still present value? Let’s discuss your eligibility, grant options, and which new projects might best suit your goals.
📞 Reach out today to learn how you can secure your next home before the next price wave.