Are Those "Expensive" Executive Condos Still Profitable in Singapore 2026?

Expert takeaway: Executive condos remain one of Singapore's most reliable wealth-building assets, with over 97% of 2025 resale transactions turning a profit, but record launch prices near S$1,900 psf and the new 10-year MOP mean 2026 buyers must underwrite far more carefully than the easy flippers of years past.

Every few months a headline screams that an executive condo (EC) just sold for a million-dollar profit. Then another headline warns that ECs are now "too expensive" at S$1,800 to S$1,900 psf. Both can be true at once. The real question for an HDB upgrader in 2026 is not whether ECs were profitable, but whether buying one today, at today's prices and under today's rules, still stacks up. Let us look at what the verifiable data actually says.

Are Expensive Executive Condos Still Profitable? What the Data Shows

The track record is genuinely strong. Across a broad sample of EC projects analysed in 2025, URA caveat data showed that the overwhelming majority of resale EC transactions were profitable. Industry analysis of 67 EC projects found over 97% of caveated EC resale transactions achieving positive gains in the first 10 months of 2025.

The size of those gains has also expanded sharply. Average EC resale profit climbed from roughly S$287,538 in 2021 to about S$659,366 in 2025, while million-dollar EC profit cases jumped from just four in 2021 to 162 in 2025. Older ECs that have crossed privatisation tell a similar story: a clutch of 2012 to 2013 vintage projects recorded price growth ranging from about 55% to 95% since launch, with the strongest performers in Tampines and Sengkang.

That broad-based profitability is exactly why ECs sit at the heart of the Singapore property ladder for the "sandwich class." For a deeper primer on how the segment works end to end, our complete EC buyer's guide walks through eligibility, grants, and timing.

Why ECs Make Money: The Discount and the Privatisation Catch-Up

Two structural features explain most EC profits. First, ECs launch at a meaningful discount to comparable private condos in the same area, historically in the 20 to 25% range. Second, an EC's buyer pool widens over time. After the minimum occupation period, owners can sell to Singaporeans and PRs; after 10 years from TOP, the EC fully privatises and can be sold to foreigners, which historically triggers a price catch-up toward private-condo levels.

You can see the discount in current pricing. New private launches in suburban regions frequently cross S$2,000 to S$2,100 psf, while ECs have been launching closer to the S$1,500 to S$1,900 psf band. That gap is the buffer that has cushioned EC buyers even in flat markets. Understanding how this compares to a straight private purchase is covered in our HDB-to-EC upgrader guide.

The 2026 Reality: Record Prices and a New 10-Year MOP

Here is where 2026 buyers must pay attention. New EC prices have surged roughly 120% from about S$797 psf in 2015 to around S$1,754 psf in 2025, more than double the rise in median HDB resale prices over the same period. Demand at launch remains ferocious: Rivelle Tampines, the first EC in Tampines West, sold 92.5% of its 572 units at a record median of S$1,893 psf on its March 2026 launch weekend and was fully sold within a month. Coastal Cabana moved 498 of 748 units at an average of S$1,734 psf on its January 2026 launch weekend.

The government noticed the increasingly investment-led behaviour. From 8 May 2026, new EC sites sold under Government Land Sales carry a 10-year MOP, the Deferred Payment Scheme is removed, and first-timer priority is extended. Crucially, these rules apply only to EC sites with tender closing dates on or after 8 May 2026. Projects already in the pipeline, including the Senja Close, Woodlands Drive 17, Sembawang Road and Miltonia Close sites, continue under the old 5-year MOP framework. You can confirm the official eligibility framework on the HDB EC eligibility page and grant details on the HDB EC CPF Housing Grant page.

The practical effect: the "buy, hold five years, flip" playbook is being deliberately slowed for future projects. A longer 10-year lock-in pushes ECs back toward being homes first and investments second, which most analysts expect to moderate price growth rather than collapse it.

Opportunities Versus Risks for 2026 EC Buyers

An honest assessment has to weigh both sides.

The opportunities:

• The launch discount versus private condos remains intact, preserving the built-in margin that has driven historical gains.
• Old-rule projects still in the pipeline retain the 5-year MOP and greater exit flexibility, a genuinely time-limited window.
• Eligible first-timers can tap a CPF Housing Grant of up to S$30,000, lowering the effective entry price.
• The Progressive Payment Scheme keeps early instalments low, easing cash flow during construction.
• Localised upgrader demand in towns like Tampines, Sembawang and Woodlands remains deep, supporting resale liquidity.

The risks you should never skip:

• High entry psf. Buying at S$1,800 to S$1,900 psf leaves a thinner runway than buyers who entered at S$800 psf a decade ago. Future percentage gains are very unlikely to mirror the past.
• 10-year MOP on new sites. A decade-long hold reduces flexibility and ties up capital. Your life plans must fit the lock-in.
• Location and lease still decide outcomes. Profitability is a matrix of location, amenities and remaining lease, not a guarantee. Weaker-located projects appreciate more slowly.
• Financing limits. ECs are bound by the MSR and TDSR rules and LTV limits, and rising quantums mean larger cash and CPF outlays.

Before committing, model your own numbers with our affordability calculator and understand your duty exposure via our stamp duty guide. If you are weighing whether to sidestep ABSD entirely, our no-ABSD upgrading strategy is worth reading alongside this piece.

Executive condos remain one of the most compelling rungs on Singapore's property ladder, but 2026 is a more demanding market than the boom years that minted those headline profits. The discount is still there, the demand is still deep, and the privatisation catch-up still works, yet higher entry prices and a longer lock-in mean the margin for error has narrowed. The smartest buyers are the ones who match a specific project, location and holding plan to their own finances rather than chasing a past average. If you would like an independent, data-grounded view on whether a particular EC makes sense for your situation, reach out to the team at PropertyNet.SG for a personalised, no-pressure consultation.