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 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 private condominium may be the ownership constraint. Owners of the ECs have to fulfil incredibly 5 years occupation time. This restriction is similar into the HDB ownership rules. Any EC owner can sell the unit only after 5 connected with occupancy. However, the publication rack limited only to the Fourth Avenue Residences singapore Citizens and also the Singapore Permanent Residents. Marriage ceremony EC will acquire its privatized status, it is free to be sold for the foreigners. The privatized status can be acquired after 10 many years.
Because the ECs were meant for the use with the local homebuyers who can’t afford the prices of a non-public property and they are not legible to acquire new HDB flats, the restrictions were quite structured. If you are an investor, investing cash in an EC isn’t favorable. The Executive Condominiums are also priced about 25% less than the private condominiums in the same aspect. In addition, it is susceptible to a 99 year leasehold. The ECs are not considered for a freehold property.
Benefits of EC buyers
The EC buyers are permitted to apply for your CPF Housing grants. The CPF Housing grant has its own set of eligibility criteria. To know if you are eligible, you can inquire for the Singapore presidency. The grant ranges from $10,000 to $30,000 but very much dependent of the evaluation of your household revenues.
The high return of investment one of several EC properties are definitely dependent on their own location. The facilities made available by the ECs are better the associated with amenities at the condominiums located towards the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity on the Bishan MRT station rrs incredibly appealing towards working lecture. Besides, it lies close to the Bishan Junction 8 local mall and the MacRitchie Reservoir Park.
What get? EC or BTO?
The ECs are manufactured by private developers. The potential buyer of ECs are individuals that afford higher than a BTO but cannot afford the price for this private condominium. The BTOs are being sold at a subsidized price so a sensational scene to raise cash the upfront payment. The budget and the restrictions of the EC might be of interest more with care.