The Executive Condominiums in Singapore are also known as 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 comparable 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 concerned with the Executive Condominium and the private condominium may be the ownership limitation. Owners of the ECs to be able to fulfil a smaller amount 5 years occupation time. This restriction is similar towards the HDB ownership rules. Any EC owner can sell the unit only after 5 numerous occupancy. However, the marketplace is limited and the Singapore Citizens and the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it cost nothing to be sold for the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for your use on the local homebuyers who cannot afford the prices of a personal property and tend to be not legible to acquire new HDB flats, the restrictions were quite severe. If you are an investor, investing your money in an EC isn’t favorable. The Executive Condominiums are also priced about 25% reduce the private condominiums in the same area. In addition, it is prone to a 99 year leasehold. The ECs are not considered for a freehold yard.
Benefits of EC buyers
The EC buyers should apply for that CPF Housing grants. The CPF Housing grant has many set of eligibility measures. To know if you are eligible, Fourth Avenue Residences condo you can inquire for the Singapore presidency. The grant ranges from $10,000 to $30,000 but very much dependent around evaluation of one’s household gross income.
The high return of investment on the list of EC properties are definitely dependent on their location. The facilities you can purchase the ECs are better the form of amenities supplied by the condominiums located close to the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity towards the Bishan MRT station highly appealing to your working lecture. Besides, it lies close to the Bishan Junction 8 local mall and the MacRitchie Reservoir Park.
What get? EC or BTO?
The ECs are created by private graphic designers. The potential buyer of ECs are individuals individuals afford eco-friendly tea’s health benefits BTO but cannot spend the money for price of a private property. The BTOs are being sold at a subsidized price so a sensational scene to raise cash the upfront paying. The budget and the restrictions among the EC should be considered more carefully.