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 are certainly one good way to enjoy luxury living. Their pricing is quite affordable to the mass market.
Market and selling restrictions
The main difference in between Executive Condominium and an individual can condominium could be the ownership concern. Owners of the ECs in order to be fulfil at a minimum 5 years occupation period. This restriction is similar into the HDB ownership rules. Any EC owner can sell the unit only after 5 many years of occupancy. However, the publication rack limited and 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 many years.
Because the ECs were meant for the use of your local homebuyers who cannot afford the prices of a person property and they are not legible to acquire new HDB flats, Fourth Avenue Residences condo the restrictions were quite stringent. If you are an investor, investing money in an EC isn’t favorable. The Executive Condominiums are also priced about 25% reduce the private condominiums from the same zone. In addition, it is governed by a 99 year leasehold. The ECs are not considered like a freehold property.
Benefits of EC buyers
The EC buyers are allowed to apply for that CPF Housing grants. The CPF Housing grant has many set of eligibility expectations. To know if you are eligible, you can inquire to the Singapore presidency. The grant ranges from $10,000 to $30,000 but very much dependent around evaluation of your household revenues.
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 deeper the form of amenities supplied by the condominiums located towards the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity for the Bishan MRT station is specially appealing to the working type. Besides, it lies close to the Bishan Junction 8 store 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 who’s going to afford greater BTO but cannot pay the price for this private apartment. The BTOs are being sold for the subsidized price so you do not have to raise cash the upfront payments. The budget and the restrictions among the EC should be considered more with care.