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 for you 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 among the Executive Condominium and Fourth Avenue Residences the non-public condominium may be the ownership limitation. Owners of the ECs to help fulfil at a minimum 5 years occupation period of time. This restriction is similar towards the HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the marketplace is limited and the Singapore Citizens along with the Singapore Permanent Residents. After the EC will acquire its privatized status, it is provided for free to be sold to the foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for your use for the local homebuyers who do not want the prices of anyone property and are generally not legible to acquire new HDB flats, the restrictions were quite severe. If you are an investor, investing difficult earned money in an EC is not favorable. The Executive Condominiums are also priced about 25% reduce the private condominiums globe same zone. In addition, it is subject to a 99 year leasehold. The ECs are not considered for a freehold yard.
Benefits of EC buyers
The EC buyers might apply for your CPF Housing grants. The CPF Housing grant has some set of eligibility measures. To know if you are eligible, you can inquire on the Singapore govt. The grant ranges from $10,000 to $30,000 but very much dependent of the evaluation of one’s household revenues.
The high return of investment one of several EC properties are definitely dependent in their location. The facilities offered by the ECs are much better the associated with amenities at the condominiums located towards the area. The Bishan Loft has been considered as the top performing ECs. Its proximity for the Bishan MRT station rrs incredibly appealing towards the working class. 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 manufactured by private developers. The potential buyer of ECs are individuals individuals afford higher than a BTO but cannot afford the price of one’s private house. The BTOs are being sold to the subsidized price so there’s no requirement to raise cash for an upfront payment amount. The budget and the restrictions belonging to the EC should be thought about more carefully.