99.9 per cent of ECs made a gross profit averaging around S$310,000 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 20 November 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 20 November 2022, there were 4,676 matched caveats mined from a database of 27,403
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 4,673 units made an average gross profit of S$310,114 each, of which 4,355
units were sold less than 10 years from the date of purchase. 1,490 units made a gross profit of between
S$200,000 and less than S$300,000 each.
Bigger ECs tend to fetch higher
profits. 2,971 units between
800 sqft and less than 1,200 sqft
yielded an average gross profit
of S$282,075 each, while 1,218
bigger units of between 1,200
sqft and less than 1,600 sqft
yielded an average gross profit
of S$380,898 each. The largest
ECs yielded the highest profits
with 181 ECs of at least 1,600
sqft yielding an average gross
profit of S$470,730 each.