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 similar 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 the non-public condominium could be the ownership constraint. Owners of the ECs to be able to fulfil a minimum of 5 years occupation time. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 regarding occupancy. However, the sector Fourth Avenue Residences condo is limited only to the Singapore Citizens along with the Singapore Permanent Residents. After the EC will acquire its privatized status, it is free to be sold into the foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for the use with the local homebuyers who cannot afford the prices of a person property and are also not legible to acquire new HDB flats, the restrictions were quite structured. If you are an investor, investing your money in an EC is not favorable. The Executive Condominiums are also priced about 25% less than the private condominiums on the same subject. In addition, it is governed by a 99 year leasehold. The ECs are not considered for a freehold yard.
Benefits of EC buyers
The EC buyers are allowed to apply for that CPF Housing grants. The CPF Housing grant has some set of eligibility criteria. To know if you are eligible, you can inquire towards Singapore powers that be. The grant ranges from $10,000 to $30,000 but very much dependent of the evaluation of the household revenues.
The high return of investment on the list of EC properties are definitely dependent on his or her location. The facilities on offer at the ECs are better the regarding amenities you can buy from the condominiums located towards the area. The Bishan Loft has been considered as the top performing ECs. Its proximity towards the Bishan MRT station rrs incredibly 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 BTO?
The ECs are manufactured by private graphic designers. The potential buyer of ECs are individuals individuals afford eco-friendly tea’s health benefits BTO but cannot give the price of a private apartment. The BTOs are being sold near a subsidized price so there’s no requirement to raise cash the upfront payment. The budget and the restrictions with the EC might be of interest more meticulously.