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 to be able to that of the private properties. The ECs are certainly one good way to enjoy luxury living. Their prices are quite affordable to the mass market.
Market and selling restrictions
The main difference between the Executive Condominium and in which you condominium may be the ownership reduction. Owners of the ECs require fulfil a minimum of 5 years occupation period of time. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 numerous occupancy. However, the marketplace is limited in order to the Singapore Citizens as well as the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it cost nothing to be sold on the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for that use of the 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 structured. 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 on the same zone. In addition, it is subject to a 99 year leasehold. The ECs are not considered for a freehold site.
Benefits of EC buyers
The EC buyers should apply for Fourth Avenue Residences condo your CPF Housing grants. The CPF Housing grant has some set of eligibility measures. To know if you are eligible, you can inquire to the Singapore powers that be. 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 over their location. The facilities provided the ECs are closer to the associated with amenities offered by the condominiums located towards the area. The Bishan Loft has been considered as the top performing ECs. Its proximity for the Bishan MRT station highly appealing to the working training session. Besides, it lies close to the Bishan Junction 8 shopping mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are designed by private web developers. The potential buyer of ECs are individuals that afford on the BTO but cannot give the price for this private house. The BTOs are being sold near a subsidized price so to be able to to raise cash a good upfront payment amount. The budget and the restrictions of the EC might be of interest more completely.