Would You Still Pay More For A Private Condo, If The EC Next Door Looked The Same?

Get The Property Insights Serious Buyers Read First: Join 50,000+ readers who rely on our weekly breakdowns of Singapore’s property market.

A seasoned content strategist with over 17 years in the real estate and financial journalism sectors, Ryan has built a reputation for transforming complex industry jargon into accessible knowledge. With a track record of writing and editing for leading financial platforms and publications, Ryan's expertise has been recognised across various media outlets. His role as a former content editor for 99.co and a co-host for CNA 938's Open House programme underscores his commitment to providing valuable insights into the property market.
“Which crazy person will buy this condo, the EC next door is $X psf cheaper.”
That’s the kind of offhand remark that sends prospective buyers spiralling into existential dread; and I’ve heard it more times than I care to admit. And I get it, because of the direction ECs have been going in.
Yes, there are differences – ECs are subsidised, there’s a five-year MOP for the first batch of buyers, and so on; but still, the optics are brutal. ECs today have much better finishing and detail than their counterparts from 20+ years ago. Same stylish facades, same landscaping, and facilities that can match their private counterparts. In blind guessing games, where I’ve asked people to guess whether it’s an EC or fully private from the photos, most of them struggle to tell.
When you throw in the lower price point, there’s a natural fear of how future buyers will react. It’s not just theoretical:
In Punggol, Prive – a resale EC – is now averaging around $1,455 psf, while nearby private condo River Isles is at about $1,444 psf. In fact, a 1,087 sq. ft. unit at Prive was recently sold for $1.72 million, beating out a larger 1,173 sq. ft. unit at River Isles that sold for $1.7 million. And it’s not a one-off.
Over at Flo Residence, another private condo in the area, average prices are $1,356 psf. But that’s now below two other ECs in the same neighbourhood: The Terrace at $1,409 psf, and Twin Waterfalls at a whopping $1,489 psf.
Naturally, this raises questions. What happens when a fully private condo is right next to an EC with similar design, similar offerings, but a much lower price? What does that do to buyer perception, or future resale value?
One effect is that private condos neighbouring ECs may, at a casual glance, seem to be underperformers. This is because the nearby EC, which started off at lower prices, will tend to see much higher appreciation. If buyers aren’t careful or savvy enough to draw the distinction, the private condo can come off looking much worse – especially if the buyer does a simplified comparison (e.g., comparing everything within a few kilometres, when there are multiple ECs nearby)
One instinctive response is: developers need to differentiate more. But the reality is, given current land prices and squeezed margins, that may not be sustainable. There’s only so much a developer can do before the costs outweigh the returns.
The huge profits EC owners have been seeing could also trigger some changes ahead.
First, we might see increasingly stronger competition for EC land parcels. Because ECs are frankly an easy sell, developers may start bidding more aggressively for these sites, driving up launch prices. If land costs rise, the price gap between ECs and private condos could naturally close over time.
More from Stacked
ABSD remission in Singapore – Everything you need to know
Once the latest cooling measures was announced, there was a mad last minute scramble as thousands of prospective homebuyers rushed…
Second, we could see policy changes to cool the upside. This can sometimes happen purely for optics; just as some people decry the “lottery effect” of getting a good BTO flat, the same ire may be directed toward ECs in time. When that happens, we may perhaps see tweaks like extending the EC MOP period to 10 years. This would delay the point at which ECs can be resold to the open market, possibly moderating demand.
In the meantime, though, private condos still need to lean into areas where ECs can’t compete as easily:
- Layouts that feel genuinely custom-designed (e.g. dumbbell layouts, enclosable kitchens, large balconies with actual usability)
- Design identity that feels cohesive and bespoke—not just another “50-metre lap pool and aqua gym” copy-paste
- Higher construction standards like proper soundproofing, engineered wood flooring, or real marble
And so forth. This might help to mitigate the sense of cold feet, as buyers stare down the price gap next door and wonder: what if I’m on the wrong side of this comparison chart, five years from now?
This will be an ongoing challenge for private developers going forward: justifying their prices versus subsidised counterparts, which are coming ever closer in terms of quality.
Meanwhile, in other property news this week:
- Prepare yourself for the July 2025 BTO launch, with this handy guide reviewing the various projects.
- New HDB policies are improving the ballot chances of singles and second-timers alike; here’s what you need to know.
- Canberra Crescent Residences has launched; but is it worth its price tag given the less-mature neighbourhood? Here’s the answer.
- Join our Stacked Pro readers as we analyse the pricing of Promenade Peak and how it compares to nearby properties.
Weekly Sales Roundup (14 July – 20 July)
Top 5 Most Expensive New Sales (By Project)
PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
UPPERHOUSE AT ORCHARD BOULEVARD | $7,657,000 | 2056 | $3,724 | 99 years |
MEYER BLUE | $6,106,000 | 1905 | $3,205 | FH |
THE ROBERTSON OPUS | $5,390,000 | 1539 | $3,502 | 999 years |
WATTEN HOUSE | $5,063,000 | 1539 | $3,289 | FH |
ONE MARINA GARDENS | $5,000,000 | 1647 | $3,036 | 99 yrs (2023) |
Top 5 Cheapest New Sales (By Project)
PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
HILL HOUSE | $1,298,000 | 431 | $3,015 | 999 yrs |
THE ROBERTSON OPUS | $1,369,000 | 431 | $3,180 | 999 yrs |
ELTA | $1,378,000 | 506 | $2,724 | 99 yrs (2024) |
UPPERHOUSE AT ORCHARD BOULEVARD | $1,395,000 | 474 | $2,945 | 99 yrs |
GRAND DUNMAN | $1,412,000 | 549 | $2,572 | 99 yrs (2022) |
Top 5 Most Expensive Resale
PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
SHAMROCK PARK | $13,102,820 | 3157 | $4,150 | FH |
3 ORCHARD BY-THE-PARK | $11,106,900 | 2583 | $4,299 | FH |
WATTEN ESTATE | $7,800,000 | 3302 | $2,362 | FH |
CHUAN GARDEN | $6,400,000 | 4878 | $1,312 | FH |
THE SOVEREIGN | $6,150,000 | 2637 | $2,332 | FH |
Top 5 Cheapest Resale
PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
SEASTRAND | $700,000 | 581 | $1,204 | 99 yrs (2011) |
HARBOUR SUITES | $700,000 | 420 | $1,667 | FH |
RIVERFRONT RESIDENCES | $765,000 | 463 | $1,653 | 99 yrs (2018) |
SELETAR PARK RESIDENCE | $785,000 | 592 | $1,326 | 99 yrs (2011) |
OKIO | $810,000 | 431 | $1,881 | FH |
Top 5 Biggest Winners
PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | RETURNS | HOLDING PERIOD |
THE SOVEREIGN | $1,845,900 | 2637 | $700 | $4,304,100 | 20 Years |
MOUNT FABER LODGE | $1,100,000 | 2454 | $448 | $2,906,888 | 27 Years |
WATTEN HILL | $2,200,000 | 2669 | $824 | $2,800,000 | 15 Years |
THE ESTA | $885,000 | 1313 | $674 | $2,302,800 | 19 Years |
HAIG COURT | $881,000 | 1442 | $611 | $2,119,000 | 20 Years |
Top 5 Biggest Losers
PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | RETURNS | HOLDING PERIOD |
HELIOS RESIDENCES | $4,026,090 | 1281 | $3,143 | -$796,090 | 18 Years |
MARINA BAY SUITES | $3,573,000 | 1572 | $2,274 | -$523,000 | 15 Years |
MARINA BAY SUITES | $4,351,000 | 2056 | $2,116 | -$501,000 | 15 Years |
PATERSON SUITES | $6,094,500 | 2196 | $2,775 | -$394,500 | 12 Years |
ECHELON | $1,037,000 | 452 | $2,294 | -$119,000 | 12 Years |
Transaction Breakdown

Follow us on Stacked for in-depth reviews of new and resale properties alike.
Ryan J
A seasoned content strategist with over 17 years in the real estate and financial journalism sectors, Ryan has built a reputation for transforming complex industry jargon into accessible knowledge. With a track record of writing and editing for leading financial platforms and publications, Ryan's expertise has been recognised across various media outlets. His role as a former content editor for 99.co and a co-host for CNA 938's Open House programme underscores his commitment to providing valuable insights into the property market.Read next from Singapore Property News

Singapore Property News Record $1.27M Sale Makes This 30-Year-Old HDB The Town’s Priciest Yet

Singapore Property News The World’s Real Estate Is Now Worth US$393 Trillion In 2025. Here’s Where Singapore Fits In

Singapore Property News Why Old ECs Now Make More Sense Than Million-Dollar Flats

Singapore Property News The Harsh Math Of HDB Ownership After SERS
Latest Posts

New Launch Condo Analysis Skye At Holland Pricing Review: How It Compares To Nearby Resale And New Launches

On The Market Three Rare Bungalows With Unique Design Hit The Market For $13.98m – Each With Over 9,300 Sq Ft Of Space

Editor's Pick Why I Sold My 40-Year-Old Jurong Flat For A Newer Bukit Panjang One: A Buyer’s Case Study

Editor's Pick 5 Ways To Get A Better Price For Your Property When The Market Is Changing

Pro Are Older One- and Two-Bedders in District 10 Holding Up Against the New Launches? We Break It Down

Property Market Commentary Are Singapore’s Oldest HDB Flats Finally Losing Value? A 2025 Price Update

Property Trends The Room That Changed the Most in Singapore Homes: What Happened to Our Kitchens?

Editor's Pick We Toured A Unique Landed Street Where No One Has Sold a Property for 14 Years

Editor's Pick Skye At Holland Condo Review: Attractive Entry Price To Holland Village From $2,598 PSF

On The Market A Rare 1930s Art Deco Home In Alexandra With 33,000 Sq Ft of Land Is Up For Rent

On The Market The Cheapest 4-Room HDB Flats Still Available Right Now – From $410,000

Pro Old vs New Family-Sized Condos in District 9: A Data-Driven Analysis of Value in 2025

Property Market Commentary 5 Ways Singapore’s Condo Layouts Have Changed Over The Years (And What We No Longer Value)

Editor's Pick Why These “Ulu” Estates May Be The Next Property Investment Hotspots In Singapore (By 2035)

On The Market 5 Biggest Condos In Singapore You Can Buy Right Now For Less Than $1.8M

Your 1st on the list of Top 5 most expensive resale this week is a FH landed property in Namly while the rest are non-landed. Can’t really compare.