The Executive Condominiums in Singapore are also in order to 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 between the Executive Condominium and the individual condominium will be the ownership concern. Owners of the ECs have to fulfil a minimum of 5 years occupation time. This restriction is similar towards the HDB ownership rules. Any EC owner can sell the unit only after 5 connected with occupancy. However, the market is limited only to the Singapore Citizens as well as the Singapore Permanent Residents. Marriage ceremony EC will acquire its privatized status, it is provided for free to be sold into the foreigners. The privatized status can be acquired after 10 some time.
Because the ECs were meant for your use with the local homebuyers who cannot 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 difficult earned money in an EC is not favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums from the same subject. In addition, it is under a 99 year leasehold. The ECs are not considered being a freehold yard.
Benefits of EC buyers
The EC buyers are allowed to apply for that CPF Housing grants. The CPF Housing grant very own set of eligibility measures. To know if you are eligible, you can inquire for the Fourth Avenue Residences singapore powers that be. The grant ranges from $10,000 to $30,000 but very much dependent on the evaluation of your household revenues.
The high return of investment on the list of EC properties are definitely dependent over their location. The facilities provided the ECs are closer to the involving amenities supplied by the condominiums located near the area. The Bishan Loft has been considered as the top performing ECs. Its proximity towards the Bishan MRT station highly appealing to the working kind. Besides, it lies close to the Bishan Junction 8 store and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are put together by private developers. The potential buyer of ECs are individuals who can afford on the BTO but cannot give the price on a private property. The BTOs are being sold at a subsidized price so there is no need to raise cash a good upfront payments. The budget and the restrictions with the EC might be of interest more with care.