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 to be able 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 in between Executive Condominium and the private condominium could be the ownership concern. Owners of the ECs to help fulfil at a minimum 5 years occupation time. This restriction is similar for the HDB ownership rules. Any EC owner can sell the unit only after 5 regarding occupancy. However, the information mill limited in order to the Singapore Citizens and also the Singapore Permanent Residents. Marriage ceremony EC will acquire its privatized status, it cost nothing to be sold towards foreigners. The privatized status can be acquired after 10 some time.
Because the ECs were meant for that use on the local homebuyers who cannot afford the prices of a private property and they are not legible to acquire new HDB flats, the restrictions were quite stringent. If you are an investor, investing cash in an EC is not favorable. The Executive Condominiums are also priced about 25% lower the private condominiums on the same area. In addition, it is governed by a 99 year leasehold. The ECs are not considered as a freehold home or property.
Benefits of EC buyers
The EC buyers can apply for your CPF Housing grants. The CPF Housing grant has its own set of eligibility measures. To know if you are eligible, you can inquire for the Singapore powers that be. The grant ranges from $10,000 to $30,000 but very much dependent on the evaluation of the household gross income.
The high return of investment one of several EC properties are definitely dependent on their own location. The facilities on offer at the ECs are better the associated with amenities at the condominiums located towards the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity to your Bishan MRT station highly appealing towards the working class. Besides, it lies close to the Bishan Junction 8 shopping mall and the MacRitchie Reservoir Park.
What to buy? EC or Fourth Avenue Residences BTO?
The ECs are designed by private constructors. The potential buyer of ECs are individuals individuals afford eco-friendly tea’s health benefits BTO but cannot afford the price of one’s private house. The BTOs are being sold for the subsidized price so there’s no requirement to raise cash a great upfront charge. The budget and the restrictions for this EC is highly recommended more carefully.