Among the top-performing projects, Hundred Palms Residences led with 91 profitable transactions (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Executive Condos (ECs) have continued to demonstrate their enduring appeal and investment resilience in 2025. Based on SRI Research’s analysis of 67 EC projects, the segment recorded a total of 1,625 resale transactions in the first 10 months of the year, with over 97% of all caveated resale EC transactions achieving positive gains, a clear reflection of the segment’s consistent ability to deliver value to homeowners over time.
The findings, derived from data retrieved as of 20 November 2025, reaffirm ECs as a reliable property segment for wealth accumulation among Singaporean households.
Parc Life is the EC with the third-highest number of profitable deals (57) (Source: Google Maps)
Despite varying market conditions and economic cycles, ECs have proven to hold their value well, supported by their hybrid nature, which offers private condo living at more accessible entry prices. The consistently high proportion of profitable resales underscores the strength of the EC model, which continues to serve as a strategic stepping stone for HDB upgraders seeking long-term capital appreciation.
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In addition, the sustained profitability across both older and newer ECs suggests that the segment’s appeal extends beyond market timing. Whether completed more than a decade ago or just recently privatised, ECs in well-located estates continue to enjoy robust demand and stable price growth.
This performance highlights not only the enduring desirability of ECs but also their critical role in maintaining housing affordability while allowing Singaporeans to participate in private housing ownership and capital growth opportunities.
The EC resale market remained active in the first 10 months of 2025, supported by a healthy stream of upgraders and homeowners capitalising on price gains. Based on SRI Research’s analysis of 67 EC projects, resale transactions continued to register profits across both newer and older developments, reflecting the broad-based strength of this market segment.
Sol Acres had the second-highest profitable transactions with 64 deals (Source: Google Maps)
Among the top-performing projects, Hundred Palms Residences led with 91 profitable transactions, followed by Sol Acres with 64 and Parc Life with 57 deals.
The breakdown of profitable EC resale transactions in the first 10 months of 2025 shows that the majority of profitable sales came from projects completed within the past 10 years. These newer developments accounted for 69.1% of all profitable EC resale transactions, highlighting the strong demand from buyers who prefer recently completed projects with newer facilities and longer remaining leases. It includes Hundred Palms Residences, Sol Acres, Parc Life, and several others.
In contrast, ECs completed more than 10 years ago accounted for 30.9% of profitable sales, indicating that older ECs retain their value but contribute a smaller share than newer ECs.
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The data also reveals a distinction in purchaser profiles. Among profitable transactions, 53.4% were buyers with private addresses, indicating strong participation from owners upgrading within the private market or investors seeking larger units at relatively attractive price points.
On the other hand, 46.6% of profitable transactions involved buyers with HDB addresses, demonstrating that ECs remain an important stepping stone for HDB upgraders entering the private housing segment.
Together, these insights show that profitable EC resale activity is broad-based across both age groups and buyer types. Newly completed ECs tend to appeal more to private address purchasers, while older ECs continue to attract steady interest from HDB upgraders who value space, established estates, and affordability. This balanced demand underscores the resilience of the EC resale market and its ongoing relevance as a key component of Singapore’s housing landscape.
The top 10 most profitable EC resale transactions in the first 10 months of the year reflect a strong performance, led by older, well-located developments. The most profitable transaction came from Bishan Loft, where a 1,389 sq ft unit purchased at $399 psf achieved a resale price of $2.4 million at $1,692 psf, resulting in a capital gain of about 324.1%.
Bishan Loft reaffirms its position as one of the stronger performing ECs in the resale market. Bishan Loft continues to attract both HDB and private address purchasers, supported by its central location, proximity to Bishan MRT, reputable schools, and strong neighbourhood amenities.
Completed in 2003, Bishan Loft remains a prime example of how centrally located ECs in mature estates can continue to deliver strong resale performance over time. Its proximity to Bishan MRT station, Junction 8, reputable schools, and major expressways make it highly attractive to both owner-occupiers and investors. The mix of both HDB and private address purchasers also reflects its wide appeal across upgrader and investment segments.
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Overall, these top ten transactions highlight the enduring capital appreciation potential of older ECs.
Buyers who purchased their units in the early 2000s and held them over a long period benefitted significantly from rising land values, improved connectivity, and sustained buyer demand in established estates. The results demonstrate that ECs continue to serve as a reliable avenue for long-term wealth accumulation, particularly when located in central or mature suburban areas with strong transport links and amenities.
This pattern highlights how ECs have proven to be a long-term wealth-building vehicle, rewarding owners who adopt a patient investment approach. The dual-stage nature of ECs, initially sold under public housing regulations and later fully privatised, allows their market value to appreciate steadily over time. Once privatised, they attract a broader pool of buyers, helping to lift transaction volumes and resale prices further.
As of the first 10 months of this year, the average unit price for new ECs stood at $1,735 psf, while new non-landed private homes in OCR averaged around $2,265 psf. This reflects a 31% price gap between the two segments, illustrating the relative affordability advantage that ECs continue to offer in the private housing market.
This pricing gap remains one of the defining characteristics of the EC market. It provides a crucial entry point for buyers who aspire to own a private home but may find private condo prices beyond reach.
Despite this gap, new EC prices have shown a gradual upward trend, narrowing slightly over recent years as construction costs rise and land bids for EC sites become more competitive.
Recent GLS results continue to highlight the growing contrast between land prices for private residential and EC sites within the Outside Central Region (OCR). While EC land bid prices have been edging upwards, they remain comparatively moderate compared with those of private residential sites.
Between January and October, OCR private residential sites saw land bids ranging between $821 and $1,388 per sq ft per plot ratio (psf ppr). Notably, Bayshore Road ($1,388 psf ppr) and Chuan Grove ($1,376 psf ppr) stood among the highest, underscoring developers’ continued willingness to pay a premium for well-located private sites.
In contrast, EC GLS sites awarded between August 2024 and October 2025 drew more measured bids between $692 psf ppr and $782 psf ppr. The more moderate pricing for EC land helps developers maintain a sustainable cost structure, which in turn supports more accessible launch prices for buyers.
This gap in land costs also reinforces the affordability positioning of ECs, allowing them to remain a viable option for upgraders who may be priced out of new private launches in the OCR.
Overall, the widening spread between private and EC land bids reflects a market where ECs continue to play a vital affordability role, while private sites in attractive locations still draw competitive interest from developers.
The comparison of average land bids for the first ten months of 2025 shows a clear pricing gap between EC sites and private residential sites within the Outside Central Region. EC land bids averaged about $748 psf ppr, while private OCR land bids averaged around $1,114 psf ppr. It represents a difference of about 49%.
The lower land acquisition cost enables developers to launch EC units at more accessible price points than mass-market private condos, while still maintaining healthy margins. This cost gap reinforces the policy intent behind ECs, ensuring that they remain an attainable option for eligible Singaporean households who aspire to own private housing.
The sizable gap indicates that ECs will remain an important and competitively priced segment of the suburban housing market.
Although EC land bid prices have been trending higher, they remain within a sustainable range that enables developers to launch projects below the pricing threshold of mass-market condos. The resilience of developer participation in recent EC tenders underscores continued confidence in this segment.
Looking ahead, ECs are expected to play an increasingly important role as more OCR private residential launches enter the market at higher price points. By offering condo-style living at a lower entry price, ECs will continue to attract a broad base of buyers seeking long-term value and affordability.
Mohan Sandrasegeran, head of research and data analytics at SRI