想问下要是新EC住5年后转手，一般屋价会起多少%? ---

Are ECs a better long-term investment than condos?OrangeTee study suggests they are, and makes a case for executive condos as an investment home By Lee Meixian leemx@sph.com.sg @LeeMeixianBT PRICES of executive condominiums (ECs) do catch up with private condos after the initial five-year minimum occupation period (MOP), and even more so when they are fully privatised 10 years after purchase. A study by OrangeTee has found that the average price gap between new condos and ECs starts at around 20 per cent, due to the sales restrictions that apply to ECs, as well as their lower land and construction costs. But upon fulfilling the MOP and at privatisation, the discount narrows to 9 per cent and 5 per cent respectively. At the end of the MOP, ECs can be sold in the open market to Singaporeans and permanent residents; upon privatisation, ECs can be sold to foreigners. This is not to say that buying an EC is a sure-profit investment, as history shows that much still depends on the initial purchase price. By matching caveats at 21 EC projects already privatised and analysing their profits made at the end of five and 10 years, the study found that 13 projects made a loss after five years, mostly because they were bought at the boom period before the Asian financial crisis. The remaining eight projects managed gains of over 20 per cent. But at privatisation, all the EC projects became profitable. How much money owners made depended on the ECs' locational attributes and surrounding supply at the time of sale. "Based on historical data, first-hand owners of currently privatised ECs are sitting on considerable gains," the report said. The report also alluded to a trend that The Business Times had highlighted in an article in January - that increased vacancy rates may be a sign that buyers are starting to treat ECs as an investment product, as young-couple EC buyers continue to live with their parents after marriage while waiting for EC prices to re-calibrate over time before they sell. OrangeTee said this trend is plausible. But its study found something even more surprising. Comparing between buying an EC and a private condo and holding each for 10 years, the report said that the EC could in fact be the better long-term investment due to their higher internal rates of return over 10 years. This is because of their subsidies and lower prices compared to private condos. Also from year six onwards, entire EC units are allowed to be rented out, and their rentals tend to be on a par with private condos'. This helps to significantly defray their holding costs. The hypothetical study assumed a 1,100-square-foot EC home bought for S$875,000, and a comparable condo for S$1.09 million. The hypothetical couple has a household income of S$14,000, with a not very financially prudent loan-to-value of 80 per cent for 25 years at a fixed rate of 2.5 per cent per annum. Rents for both units are fixed at S$3,000 per month. To simplify matters, other costs such as stamp duties, maintenance fees, and taxes were not considered. At the end of just five years, the private condo proved to be the better buy, because the EC was not able to offset its monthly mortgage payments with rental income, as regulations forbid renting out the whole unit. This dampened its otherwise stellar capital appreciation. But once rental restrictions are lifted, the EC quickly outperformed the condo. Asked if the findings, which support an investment case for ECs, mean that the partly state-subsidised housing designed for the "sandwiched class" home buyer has become irrelevant, OrangeTee's research analyst Celine Chan said no. "(This is) given the significant price gap between ECs and private condos. ECs provide an affordable option to HDB upgraders or first timers who aspire to achieve a higher standard of living. Though some may plausibly be buying ECs for investment, majority are buying them for their own occupation," she said. OrangeTee study suggests they are, and makes a case for executive condos as an investment home By Lee Meixian leemx@sph.com.sg @LeeMeixianBT PRICES of executive condominiums (ECs) do catch up with private condos after the initial five-year minimum occupation period (MOP), and even more so when they are fully privatised 10 years after purchase. A study by OrangeTee has found that the average price gap between new condos and ECs starts at around 20 per cent, due to the sales restrictions that apply to ECs, as well as their lower land and construction costs. But upon fulfilling the MOP and at privatisation, the discount narrows to 9 per cent and 5 per cent respectively. At the end of the MOP, ECs can be sold in the open market to Singaporeans and permanent residents; upon privatisation, ECs can be sold to foreigners. This is not to say that buying an EC is a sure-profit investment, as history shows that much still depends on the initial purchase price. By matching caveats at 21 EC projects already privatised and analysing their profits made at the end of five and 10 years, the study found that 13 projects made a loss after five years, mostly because they were bought at the boom period before the Asian financial crisis. The remaining eight projects managed gains of over 20 per cent. But at privatisation, all the EC projects became profitable. How much money owners made depended on the ECs' locational attributes and surrounding supply at the time of sale. "Based on historical data, first-hand owners of currently privatised ECs are sitting on considerable gains," the report said. The report also alluded to a trend that The Business Times had highlighted in an article in January - that increased vacancy rates may be a sign that buyers are starting to treat ECs as an investment product, as young-couple EC buyers continue to live with their parents after marriage while waiting for EC prices to re-calibrate over time before they sell. OrangeTee said this trend is plausible. But its study found something even more surprising. Comparing between buying an EC and a private condo and holding each for 10 years, the report said that the EC could in fact be the better long-term investment due to their higher internal rates of return over 10 years. This is because of their subsidies and lower prices compared to private condos. Also from year six onwards, entire EC units are allowed to be rented out, and their rentals tend to be on a par with private condos'. This helps to significantly defray their holding costs. The hypothetical study assumed a 1,100-square-foot EC home bought for S$875,000, and a comparable condo for S$1.09 million. The hypothetical couple has a household income of S$14,000, with a not very financially prudent loan-to-value of 80 per cent for 25 years at a fixed rate of 2.5 per cent per annum. Rents for both units are fixed at S$3,000 per month. To simplify matters, other costs such as stamp duties, maintenance fees, and taxes were not considered. At the end of just five years, the private condo proved to be the better buy, because the EC was not able to offset its monthly mortgage payments with rental income, as regulations forbid renting out the whole unit. This dampened its otherwise stellar capital appreciation. But once rental restrictions are lifted, the EC quickly outperformed the condo. Asked if the findings, which support an investment case for ECs, mean that the partly state-subsidised housing designed for the "sandwiched class" home buyer has become irrelevant, OrangeTee's research analyst Celine Chan said no. "(This is) given the significant price gap between ECs and private condos. ECs provide an affordable option to HDB upgraders or first timers who aspire to achieve a higher standard of living. Though some may plausibly be buying ECs for investment, majority are buying them for their own occupation," she said.

我有个疑问。假如我35岁，现在住4 room HDB, 有10 年贷款未还。CPF除了还贷，每月有几百剩余，现金200K，面临的选择： 1. 保留HDB，买3 bedroom Condo，有两个孩子，还有父母要临时来住，所以自住的Condo不能太小。这样的Condo要1.2m左右，首付（1.2m*23%）所用现金不够，还要借外债。剩下要还 960k Condo贷款，借30 年（一直要工作到65岁），利率2%，每月还$3548。一旦利率涨到4%，每月还贷 $4583。HDB租金收入抛去空置期，每月$2000。两厢抵，每月要花$2000cash，直到10年以后。这种前提是银行会借给960k。 2. 卖HDB，买 EC. 4 bedroom，总价960k。首付200k，卖出HDB价格减去剩余HDB贷款=300k，所以贷款需要960-200-300=460k，贷款25年，假设利息3%，月付$2181，CPF可以cover95%，几乎不需要cash。大家会选哪一种？假如我35岁，现在住4 room HDB, 有10 年贷款未还。CPF除了还贷，每月有几百剩余，现金200K，面临的选择： 1. 保留HDB，买3 bedroom Condo，有两个孩子，还有父母要临时来住，所以自住的Condo不能太小。这样的Condo要1.2m左右，首付（1.2m*23%）所用现金不够，还要借外债。剩下要还 960k Condo贷款，借30 年（一直要工作到65岁），利率2%，每月还$3548。一旦利率涨到4%，每月还贷 $4583。HDB租金收入抛去空置期，每月$2000。两厢抵，每月要花$2000cash，直到10年以后。这种前提是银行会借给960k。 2. 卖HDB，买 EC. 4 bedroom，总价960k。首付200k，卖出HDB价格减去剩余HDB贷款=300k，所以贷款需要960-200-300=460k，贷款25年，假设利息3%，月付$2181，CPF可以cover95%，几乎不需要cash。大家会选哪一种？

如果是银行贷款，要还清.如果是HDB贷款，不一定要还清. 接手HDB的那一方符合条件也能申请HDB loan. 接手HDB的那一方申请HDB贷款的条件是 1. 你们现在的HDB是跟HDB贷款的. 如果不是的话，也就是说是跟银行贷款的，那么基本上很难做transfer了，只好还完银行贷款再打算，或者考虑其他的买房策略. 2. 你们家庭收入在$12000或以下，工薪族的话看最近三个月薪水. 然后能贷款多少就是看房子的估价（要重新做估计，四房组屋200块左右），接手一方的年龄和收入.如果是HDB贷款，不一定要还清. 接手HDB的那一方符合条件也能申请HDB loan. 接手HDB的那一方申请HDB贷款的条件是 1. 你们现在的HDB是跟HDB贷款的. 如果不是的话，也就是说是跟银行贷款的，那么基本上很难做transfer了，只好还完银行贷款再打算，或者考虑其他的买房策略. 2. 你们家庭收入在$12000或以下，工薪族的话看最近三个月薪水. 然后能贷款多少就是看房子的估价（要重新做估计，四房组屋200块左右），接手一方的年龄和收入.

EC转手能起多少？

西芹妈楼主 10年前

#52

好长想自住就买EC,但想从房子赚点钱那就留组屋买公寓，目前经济不景气，我想可以再等等想自住就买EC,但想从房子赚点钱那就留组屋买公寓，目前经济不景气，我想可以再等等

一米阳光 10年前

#53

感觉这个文章的算法是错的EC比condo买价便宜，卖价差不了多少，当然划算。两种的主要差别其实在于能不能保留现有的hdb收租。所以rental那一行，公寓应该要加上至少2-3万一年作为hdb出租的收益。加上这个hdb的收益以后， condo的irr不见得比ec小。EC比condo买价便宜，卖价差不了多少，当然划算。两种的主要差别其实在于能不能保留现有的hdb收租。所以rental那一行，公寓应该要加上至少2-3万一年作为hdb出租的收益。加上这个hdb的收益以后， condo的irr不见得比ec小。

solo_estoy 10年前

#54

此文是单纯比较两间一样大小的EC/Condo，如果要把其他因素考虑进来那卖掉HDB能负担更大间的EC，租金收入会高一些。买卖价也不一样。

如果保留HDB，也要看贷款是否还清、剩余贷款多少，那yearly mortgage payment也要相应调整。

如此一来moving parts太多，就要case by case比较了。那卖掉HDB能负担更大间的EC，租金收入会高一些。买卖价也不一样。

如果保留HDB，也要看贷款是否还清、剩余贷款多少，那yearly mortgage payment也要相应调整。

如此一来moving parts太多，就要case by case比较了。

萧萧笑笑 10年前

#55

同意而且也不是每个买公寓的人都有HDB的，不能以自己年龄段或者经历来概括所有的人而且也不是每个买公寓的人都有HDB的，不能以自己年龄段或者经历来概括所有的人

一米阳光 10年前

#56

哦，如果不考虑hdb的话自然买ec，都不需要比较数据，ec毕竟是政府给公民的福利，买价便宜而且私有化后跟公寓一样，内部设施也跟公寓差不都。大部分人问这个问题应该都是在纠结hdb。自然买ec，都不需要比较数据，ec毕竟是政府给公民的福利，买价便宜而且私有化后跟公寓一样，内部设施也跟公寓差不都。大部分人问这个问题应该都是在纠结hdb。

DSO 10年前

#57

买ec还是condo主要还是看买来的目的了想提高居住环境住公寓
cash够收入高肯定直接买大间的condo了
cash不够就卖hdb买ec

cash不够勒紧裤腰带买condo 估计多半也是买小间的，住不爽啊，除非是纯投资，这种情况就还是得住hdb，出租condo，condo的出租又不会太划算，不知现在租金能不能cover月供呢想提高居住环境住公寓
cash够收入高肯定直接买大间的condo了
cash不够就卖hdb买ec

cash不够勒紧裤腰带买condo 估计多半也是买小间的，住不爽啊，除非是纯投资，这种情况就还是得住hdb，出租condo，condo的出租又不会太划算，不知现在租金能不能cover月供呢

一米阳光 10年前

#58

差不多其实简单一点算，同等的ec比公寓便宜可能300K。买公寓相对于买ec来说，算投资30万，组屋出租一年算2万， 15年收租30万。所以15年breakeven。 15年以后ec也早就私有化了，差别就在于你的第一个选项会多一套组屋，可以再收个20-30年的租金。而且，通常ec就算私有化感觉比同等的condo卖价还是要便宜一些。

当然，如果有其他更好的投资渠道，高过组屋的租金回报，就不用keep 组屋了吧。其实简单一点算，同等的ec比公寓便宜可能300K。买公寓相对于买ec来说，算投资30万，组屋出租一年算2万， 15年收租30万。所以15年breakeven。 15年以后ec也早就私有化了，差别就在于你的第一个选项会多一套组屋，可以再收个20-30年的租金。而且，通常ec就算私有化感觉比同等的condo卖价还是要便宜一些。

当然，如果有其他更好的投资渠道，高过组屋的租金回报，就不用keep 组屋了吧。

DengWei 10年前

#59

可以参考周围现有公寓的价格和供应量

jiatong32 10年前

#60

您的情况大概只能选第二种第一种：HDB贷款未还完，公寓不能贷80%，只能贷50%，如果现金先去还HDB，现金就不够公寓首付了吧，但是只要解决了首付，还贷就不需要现金2000了，租屋租金2000，CPF可以也用来还公寓月供。第一种：HDB贷款未还完，公寓不能贷80%，只能贷50%，如果现金先去还HDB，现金就不够公寓首付了吧，但是只要解决了首付，还贷就不需要现金2000了，租屋租金2000，CPF可以也用来还公寓月供。

jiatong32 10年前

#61

谁敢说EC五年后一定能赚15-20%啊盛纲榜鹅EC一大堆，谁敢保证五年后卖出一定能赚那么多？供应太大了，我觉得居住功能居大，增值功能很难说，要看地点和时期吧。。盛纲榜鹅EC一大堆，谁敢保证五年后卖出一定能赚那么多？供应太大了，我觉得居住功能居大，增值功能很难说，要看地点和时期吧。。

柴火妞 10年前

#62

周围有很多组屋但EC就这一个这会负面影响EX的价格吗这会负面影响EX的价格吗

vickychen 10年前

#63

如果楼主家是双公民目前住的HDB是拿HDB贷款，并且家庭月收入低于$12000的话，
1. 把HDB转给夫妻中收入低的那位 W，W申请HDB贷款，一个人供HDB。收入高的那位 H 之前供房子的CPF会回到他的CPF ordinary account，他从屋主变成essential occupier.
2. H 可以单独买一套公寓，CPF OA全部都能动用，因为公寓是他第一套房，贷款最多可以到80%，要看年龄和薪水能不能拿到这么多贷款.
2.1 如果买二手公寓，那么你们可以住公寓，出租组屋，或者住组屋，出租公寓，看个人喜好和经济压力.
2.2 如果买新公寓，付完20%首付还有印花税3%-$5400，剩下的是按工程进度 progressive payment，一百万的公寓一开始可能才几百块，然后一千多，两千多，到三千多。等新公寓建好，可以自住，可以出租，可以等到你们买公寓exercise OTP起满四年卖掉。
其实好好plan一下，楼主可以找个最适合自己家庭的买房方案。目前住的HDB是拿HDB贷款，并且家庭月收入低于$12000的话，
1. 把HDB转给夫妻中收入低的那位 W，W申请HDB贷款，一个人供HDB。收入高的那位 H 之前供房子的CPF会回到他的CPF ordinary account，他从屋主变成essential occupier.
2. H 可以单独买一套公寓，CPF OA全部都能动用，因为公寓是他第一套房，贷款最多可以到80%，要看年龄和薪水能不能拿到这么多贷款.
2.1 如果买二手公寓，那么你们可以住公寓，出租组屋，或者住组屋，出租公寓，看个人喜好和经济压力.
2.2 如果买新公寓，付完20%首付还有印花税3%-$5400，剩下的是按工程进度 progressive payment，一百万的公寓一开始可能才几百块，然后一千多，两千多，到三千多。等新公寓建好，可以自住，可以出租，可以等到你们买公寓exercise OTP起满四年卖掉。
其实好好plan一下，楼主可以找个最适合自己家庭的买房方案。

x4 10年前

#64

新加坡的组屋收租金实在是太划算了。
个人感觉租金肯定会掉。。实在是太划算了。
个人感觉租金肯定会掉。。

jiatong32 10年前

#65

恭喜入手那么精美的旗舰组屋！太会投资了！太会投资了！

yayayayayaya 10年前

#66

你忘了最重要的人一条如果选择1影响了生活质量，要节衣缩食，还是算了。如果选择1影响了生活质量，要节衣缩食，还是算了。

x4 10年前

#67

其实都是炒作出来的那边HDB的实际价值也就60万比较合理。
反正也做好心理准备了。
那边HDB的实际价值也就60万比较合理。
反正也做好心理准备了。

逃课专家 10年前

#68

当然选第一种只要还留在新加坡，有什么asset能比得上HDB? 一开始工作就能买的起自己的安乐窝，财富积累起来了可以出租，退休了政府重建一套新的给你养老。高回报，抗通胀，零风险。只要还留在新加坡，有什么asset能比得上HDB? 一开始工作就能买的起自己的安乐窝，财富积累起来了可以出租，退休了政府重建一套新的给你养老。高回报，抗通胀，零风险。

西芹妈楼主 10年前

#69

问组屋贷款没完，公寓能不是只能贷50%?组屋贷款没完，公寓能不是只能贷50%?

liyin 10年前

#70

怎么没人说先上EC后上Condo?我觉得比EC怎么没人说先上EC后上Condo?我觉得比EC怎么没人说先上EC后上Condo?我觉得比EC

一米阳光 10年前

#71

如果需要节衣缩食的话，不是现在就是退休以后节衣缩食。组屋出租的收入在一个人退休以后会是一个稳定并与通胀挂钩的收入。就是退休以后节衣缩食。组屋出租的收入在一个人退休以后会是一个稳定并与通胀挂钩的收入。

一米阳光 10年前

#72

那就是有钱人了35岁倾家荡产买了ec，再要存condo的几十万首付，基本也到45了，到时候改考虑退休金的问题了，应该不会把钱套进一个需要好多年才能回本的condo去。

有钱人除外哈。35岁倾家荡产买了ec，再要存condo的几十万首付，基本也到45了，到时候改考虑退休金的问题了，应该不会把钱套进一个需要好多年才能回本的condo去。

有钱人除外哈。

西芹妈楼主 10年前

#73

同组屋做owner transfer 后，一方所还过的全部款都要回他的CPF?那另一方需要马上补回？还是可以去申请hdb的贷款？那之前所还过的利息怎么算？组屋做owner transfer 后，一方所还过的全部款都要回他的CPF?那另一方需要马上补回？还是可以去申请hdb的贷款？那之前所还过的利息怎么算？

五月天 10年前

#74

把hdb转给公民是不是需要组屋贷款全部还清阿我怎么记得全部还清才能transfer ownership阿。

如果这样，就需要很多现金，只能走第二条了。我怎么记得全部还清才能transfer ownership阿。

如果这样，就需要很多现金，只能走第二条了。

yaxin 10年前

#75

不是有钱人，只是工薪阶层，没有父母支持，我想还是会选择第二种。大家都想保留组屋，住公寓收房租。可是第一种实际是不成立的，因为要凑够首付还有再赞3年钱，那时38岁了，hdb还没还完，就算换完了按1万左右的家庭收入也贷不到900k（应该能贷600k+）。想买公寓又有组屋，再勒紧裤腰带赞几年钱吧。第二种可以马上买EC，提高生活品质。过几年之后，有了一定积蓄可以慢慢做点理财，我想每年5%的回报应该蛮稳定的吧（请理财专家分析）。关键是经济上比较自由，因为钱没有绑在房子上，不用担心房子租不出去，没有大笔的贷款要还，不担心银行加息，实际的收益也少不了多少。总体来说比较安稳。只是工薪阶层，没有父母支持，我想还是会选择第二种。大家都想保留组屋，住公寓收房租。可是第一种实际是不成立的，因为要凑够首付还有再赞3年钱，那时38岁了，hdb还没还完，就算换完了按1万左右的家庭收入也贷不到900k（应该能贷600k+）。想买公寓又有组屋，再勒紧裤腰带赞几年钱吧。第二种可以马上买EC，提高生活品质。过几年之后，有了一定积蓄可以慢慢做点理财，我想每年5%的回报应该蛮稳定的吧（请理财专家分析）。关键是经济上比较自由，因为钱没有绑在房子上，不用担心房子租不出去，没有大笔的贷款要还，不担心银行加息，实际的收益也少不了多少。总体来说比较安稳。

五月天 10年前

#76

关键第一种cash会多很多最起码要再存5年钱，
那5年后ec绑定期也不会太久了，
完全可以这5年内存点钱再投资个小公寓了。组屋还是受政府限制太多最起码要再存5年钱，
那5年后ec绑定期也不会太久了，
完全可以这5年内存点钱再投资个小公寓了。组屋还是受政府限制太多

vickychen 10年前

#77

HDB ownship transfer（适用于夫妻）其中一方所还的贷款的CPF部分退回CPF（只是CPF部分，不包括现金）.
假如说退回后，整间屋子的贷款还剩40万，那另一方只要能向HDB贷款40万，就不用补现金. 如果另一方只能贷款比如说36万，那就补现金4万。并不是说，一方抽出CPF多少，另一方就要补多少现金。其中一方所还的贷款的CPF部分退回CPF（只是CPF部分，不包括现金）.
假如说退回后，整间屋子的贷款还剩40万，那另一方只要能向HDB贷款40万，就不用补现金. 如果另一方只能贷款比如说36万，那就补现金4万。并不是说，一方抽出CPF多少，另一方就要补多少现金。

Matchaaa 10年前

#78

申请EC是不是申请成功之后就要交23%的首付呀贷款可以defer到拿锁匙的时候？贷款可以defer到拿锁匙的时候？

西芹妈楼主 10年前

#79

9 周好像是先还5% 现金，剩的首付9周后还好像是先还5% 现金，剩的首付9周后还

西芹妈楼主 10年前

#80

己经买了你是已经买了brownstone了才问？你是已经买了brownstone了才问？

EC转手能起多少？

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