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 in order to that of the private properties. The ECs are one good way to enjoy luxury living. Their prices are quite affordable to the mass market.
Market and selling restrictions
The main difference involving the Executive Condominium and the private condominium is the ownership constraint. Owners of the ECs have to fulfil a smaller amount 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 many years of occupancy. However, the information mill limited and the Fourth Avenue Residences singapore Citizens as well as the Singapore Permanent Residents. After the EC will acquire its privatized status, it cost nothing to be sold for the foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for the use with the local homebuyers who do not want the prices of a non-public property and tend to be not legible to acquire new HDB flats, the restrictions were quite severe. If you are an investor, investing money in an EC is not favorable. The Executive Condominiums are also priced about 25% when compared with the private condominiums on same region. In addition, it is governed by a 99 year leasehold. The ECs are not considered being a freehold yard.
Benefits of EC buyers
The EC buyers might apply for your CPF Housing grants. The CPF Housing grant has many set of eligibility expectations. To know if you are eligible, you can inquire towards Singapore presidency. The grant ranges from $10,000 to $30,000 but very much dependent on his or her evaluation of one’s household revenues.
The high return of investment among the EC properties are definitely dependent in their location. The facilities you can purchase the ECs are deeper the involving amenities presented the condominiums located near the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity to the Bishan MRT station can be quite appealing towards the working kind. Besides, it lies close to the Bishan Junction 8 nearby mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are made by private constructors. The potential buyer of ECs are individuals who can afford greater BTO but cannot afford the price of one’s private condominium. The BTOs are being sold set at a subsidized price so there’s no requirement to raise cash to upfront payment. The budget and the restrictions with the EC might be of interest more meticulously.