The Executive Condominiums in Singapore are also since 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 in order to that of the private properties. The ECs are certainly one good way to enjoy luxury living. Their pricing is quite affordable to the mass market.
Market and selling restrictions
The main difference involving the Executive Condominium and the individual condominium could be the ownership concern. Owners of the ECs to help fulfil a minimum of 5 years occupation time. This restriction is similar to your HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the publication rack limited and the Singapore Citizens along with the Singapore Permanent Residents. Marriage ceremony EC will acquire its privatized status, it costs nothing to be sold to the foreigners. The privatized status can be acquired after 10 some time.
Because the ECs were meant for that use of your local homebuyers who can’t afford the prices of a private property and they are not legible to acquire new HDB flats, the restrictions were quite upmost. If you are an investor, investing cash in an EC is not favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums globe same zone. In addition, it is prone to a 99 year leasehold. The ECs are not considered like a freehold terrain.
Benefits of EC buyers
The EC buyers are allowed to apply for your CPF Housing grants. The CPF Housing grant has some set of eligibility criteria. To know if you are eligible, you can inquire towards Singapore government. The grant ranges from $10,000 to $30,000 but very much dependent on the evaluation of one’s household revenues.
The high return of investment one of several EC properties are definitely dependent on his or her location. The facilities on offer at the ECs are better the kind of amenities at the condominiums located close to the area. The Bishan Loft has been considered as the top performing ECs. Its proximity for the Bishan MRT station is very appealing to your working class. Besides, it lies close to the Bishan Junction 8 retail center and the MacRitchie Reservoir Park.
What to buy? EC or Fourth Avenue Residences condo BTO?
The ECs are manufactured by private developers. The potential buyer of ECs are individuals that afford on the BTO but cannot afford the price for this private property. The BTOs are being sold set at a subsidized price so you do not have to raise cash a good upfront charge. The budget and the restrictions for this EC should be thought about more carefully.