The Executive Condominiums in Singapore are also called EC. In the past years, these HDB flats and hybrid of private property have been becoming popular among the local real estate buyers. The amenities offered by the ECs are usually for you to that of the private properties. The ECs is one good way to enjoy luxury living. Their expenditure is quite affordable to the mass market.
Market and selling restrictions
The main difference among the Executive Condominium and in which you condominium is the ownership reduction. Owners of the ECs to help fulfil incredibly 5 years occupation frame of time. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 regarding occupancy. However, the information mill limited and the Singapore Citizens as well as the Singapore Permanent Residents. Following a EC will acquire its privatized status, it cost nothing to be sold on the foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for your use with the local homebuyers who can’t afford the prices of a person property and Fourth Avenue Residences condo tend to be not legible to acquire new HDB flats, the restrictions were quite severe. If you are an investor, investing money in an EC is not favorable. The Executive Condominiums are also priced about 25% when compared with the private condominiums on the same region. In addition, it is susceptible to a 99 year leasehold. The ECs are not considered as a freehold yard.
Benefits of EC buyers
The EC buyers are allowed to apply for the CPF Housing grants. The CPF Housing grant has many set of eligibility criteria. To know if you are eligible, you can inquire towards the Singapore govt. The grant ranges from $10,000 to $30,000 but very much dependent around evaluation of your household revenues.
The high return of investment one of several EC properties are definitely dependent on his or her location. The facilities offered by the ECs are better the form of amenities presented the condominiums located near the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity to the Bishan MRT station highly appealing towards working class. Besides, it lies close to the Bishan Junction 8 store and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are created by private developers. The potential buyer of ECs are individuals that afford eco-friendly tea’s health benefits BTO but cannot give the price on a private property. The BTOs are being sold set at a subsidized price so a sensational scene to raise cash for an upfront charge. The budget and the restrictions for this EC is highly recommended more carefully.