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 to be able to that of the private properties. The ECs is one good way to enjoy luxury living. Their pricing is quite affordable to the mass market.
Market and selling restrictions
The main difference concerned with the Executive Condominium and an individual can condominium may be the ownership limitation. Owners of the ECs require fulfil the equivalent of 5 years occupation period of time. This restriction is similar for the HDB ownership rules. Any EC owner can sell the unit only after 5 numerous occupancy. However, the market is limited in order to the Singapore Citizens along with the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, Fourth Avenue Residences condo it costs nothing to be sold towards foreigners. The privatized status can be acquired after 10 some time.
Because the ECs were meant for that use of the local homebuyers who do not want the prices of a private property and are generally not legible to acquire new HDB flats, the restrictions were quite severe. If you are an investor, investing your money in an EC is not favorable. The Executive Condominiums are also priced about 25% reduce the private condominiums in the same subject. In addition, it is susceptible to a 99 year leasehold. The ECs are not considered being a freehold terrain.
Benefits of EC buyers
The EC buyers might apply for that CPF Housing grants. The CPF Housing grant very own 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 within the evaluation of your household revenues.
The high return of investment on the list of EC properties are definitely dependent on their location. The facilities provided the ECs are deeper the involving amenities presented the condominiums located near to the area. The Bishan Loft has been considered as the top performing ECs. Its proximity towards the Bishan MRT station is specially appealing towards the working class. Besides, it lies close to the Bishan Junction 8 nearby mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are made by private developers. The potential buyer of ECs are individuals to afford eco-friendly tea’s health benefits BTO but cannot pay for the price of one’s private apartment. The BTOs are being sold for the subsidized price so you do not have to raise cash a good upfront payment amount. The budget and the restrictions for this EC might be of interest more properly.