EC: Executive Condominium
A condo built by a private developer but sold under HDB-style rules. It becomes fully private after 10 years.
An EC is a hybrid between an HDB flat and a private condo. It is built and sold by a private developer, with condo facilities, but first buyers must meet HDB-style eligibility rules and can get CPF housing grants.
After the 5-year MOP, owners can sell to citizens and PRs. After 10 years the EC becomes fully private, and foreigners can buy it too.
ECs are popular with couples whose income is too high for a BTO flat but who find private condos too expensive.