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 are one good way to enjoy luxury living. Their expense is quite affordable to the mass market.
Market and selling restrictions
The main difference in between Executive Condominium and the non-public condominium will be the ownership restriction. Owners of the ECs in order to be fulfil a smaller amount 5 years occupation period of time. This restriction is similar for the HDB ownership rules. Any EC owner can sell the unit only after 5 connected with occupancy. However, the information mill limited in order to the Singapore Citizens as well as the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, Fourth Avenue Residences condo it is free to be sold into the foreigners. The privatized status can be acquired after 10 some time.
Because the ECs were meant for the use with 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 upmost. If you are an investor, investing cash in an EC isn't favorable. The Executive Condominiums are also priced about 25% reduce the private condominiums globe same zone. In addition, it is susceptible to a 99 year leasehold. The ECs are not considered like a freehold site.
Benefits of EC buyers
The EC buyers can apply for your CPF Housing grants. The CPF Housing grant very 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 around 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 offered by the ECs are better the form of amenities presented the condominiums located near the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity for the Bishan MRT station rrs incredibly appealing into the working training session. Besides, it lies close to the Bishan Junction 8 local mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are made by private developers. The potential buyer of ECs are individuals that afford greater BTO but cannot pay the price of one's private condominium. The BTOs are being sold set at a subsidized price so a sensational scene to raise cash the upfront payment. The budget and the restrictions with the EC might be of interest more with care.