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 expenditure is quite affordable to the mass market.
Market and selling restrictions
The main difference concerned with the Executive Condominium and the individual condominium will be the ownership reduction. Owners of the ECs to be able to fulfil at a minimum 5 years occupation period. This restriction is similar to your HDB ownership rules. Any EC owner can sell the unit only after 5 numerous occupancy. However, the publication rack limited and the Singapore Citizens as well as the Singapore Permanent Residents. Marriage ceremony EC will acquire its privatized status, Fourth Avenue Residences condo it costs nothing to be sold on the foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for that use with the local homebuyers who cannot afford the prices of a non-public property and are also 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 in the same region. In addition, it is subject to a 99 year leasehold. The ECs are not considered as a freehold property.
Benefits of EC buyers
The EC buyers might apply for the CPF Housing grants. The CPF Housing grant has many set of eligibility considerations. 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 gross income.
The high return of investment among the EC properties are definitely dependent on their own location. The facilities you can purchase the ECs are deeper the involving amenities supplied by the condominiums located close to the area. The Bishan Loft has been considered among the top performing ECs. Its proximity for the Bishan MRT station is specially 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 BTO?
The ECs are put together by private graphic designers. The potential buyer of ECs are individuals who’s going to afford greater BTO but cannot afford the price on a private house. The BTOs are being sold near a subsidized price so there’s no requirement to raise cash for an upfront paying. The budget and the restrictions with the EC should be thought about more completely.