The Executive Condominiums in Singapore are also in order to 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 similar to that of the private properties. The ECs is one good way to enjoy luxury living. Their expense is quite affordable to the mass market.
Market and selling restrictions
The main difference involving the Executive Condominium and Fourth Avenue Residences in which you condominium may be the ownership restriction. Owners of the ECs in order to be fulfil the equivalent of 5 years occupation period. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the marketplace is limited only to the Singapore Citizens along with 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 yrs.
Because the ECs were meant for your use of your local homebuyers who cannot afford the prices of anyone property and are also not legible to acquire new HDB flats, the restrictions were quite strict. If you are an investor, investing money in an EC isn’t favorable. The Executive Condominiums are also priced about 25% less than the private condominiums on the same aspect. In addition, it is governed by a 99 year leasehold. The ECs are not considered as a freehold site.
Benefits of EC buyers
The EC buyers are permitted to apply for the CPF Housing grants. The CPF Housing grant has its own set of eligibility criteria. 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 gross income.
The high return of investment among the EC properties are definitely dependent on their own location. The facilities provided the ECs are much better the form of amenities you can buy from the condominiums located near the area. The Bishan Loft has been considered as the top performing ECs. Its proximity to your Bishan MRT station is very appealing towards the working kind. Besides, it lies close to the Bishan Junction 8 shopping mall and the MacRitchie Reservoir Park.
What get? EC or BTO?
The ECs are manufactured by private web developers. The potential buyer of ECs are individuals who’s going to afford on the BTO but cannot pay the price of one’s private apartment. The BTOs are being sold to the subsidized price so you do not have to raise cash a good upfront payments. The budget and the restrictions for this EC should be thought about more with care.