Executive Condominium (EC) units are launched and sold by private developers but are subsidised by the government. Buyers can take Central Provident Fund (CPF) grants to pay for an EC bought from a developer. As such, while ECs have condo-like attributes such as swimming pools, gyms, clubhouse and better design, they are cheaper compared to private condominium. 

The flip side of being a hybrid development however, is that Executive Condos are considered HDB properties for the first 10 years, which means they’re bounded by HDB’s rules. These include the 5-year Minimum Occupancy Period (MOP) rule, HDB’s various eligibility schemes such as citizenship, age, income, and property ownership, HDB’s selling restrictions and the resale levy (if you’re buying it from a developer). 

However, once ECs hit their 11th year, they will be privatised – and that’s when they truly shine; because now you can sell it to a bigger pool of buyers, including foreigners.