99.9 per cent of ECs made a gross profit averaging around S$300,000 each. ECs are a hybrid of public and
private housing sold at lower prices than private condos, despite being built by private developers. An EC
project is privatised 10 years after its completion; thereafter, units can be sold to foreigners. For the
profitability analyses, the gains and losses of individual EC units were calculated by matching URA Realis
new sale caveats between 2007 and 21 August 2022 to the resale caveat (if any) of the same unit over the
same time frame. The calculation does not consider costs such as legal fees and interest.
As of 29 August 2022, there were 4,266 matched caveats mined from a database of 26,882 new
EC transactions (the balance units were either not put up for resale or did not lodge a caveat). Out of this
number, 99.9 per cent or 4,263 units made an average gross profit of S$295,904 each, of which 4,001 units
were sold less than 10 years from the date of purchase. 1,454 units made a gross profit of between
S$200,000 and less than S$300,000 each.
Bigger ECs tend to fetch higher
profits. 2,717 units between
800 sqft and less than 1,200 sqft
yielded an average gross profit
of S$268,493 each, while 1,112
bigger units of between 1,200
sqft and less than 1,600 sqft
yielded an average gross profit
of S$362,997 each. The largest
ECs yielded the highest profits
with 170 ECs of at least 1,600
sqft yielding an average gross
profit of S$455,207 each.