HDB EC is a subsidised private condominium – a hybrid between private and public housing. Executive Condo Housing Scheme was launched in 1996. It is designed to cater to the needs of those whose household incomes exceed the ceiling for public housing but are not quite yet able to afford a private property.
To ensure a fair housing system and affordability for this group of people, a set of stringent eligibility criteria is unavoidable. Also, EC buyers have to meet the 5-year minimum occupation period before they can sell their EC in the open market, and some resale restrictions from 6th to 10th year.