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 is one good way to enjoy luxury living. Their expense is quite affordable to the mass market.
Market and selling restrictions
The main difference in between Executive Condominium and in which you condominium is the ownership limitation. Owners of the ECs to be able to fulfil a minimum of 5 years occupation occasion. This restriction is similar to your HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the market is limited only to the Singapore Citizens and the Singapore Permanent Residents. When the EC will acquire its privatized status, it is free to be sold towards 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 non-public property and are generally not legible to acquire new HDB flats, the restrictions were quite strict. If you are an investor, investing difficult earned money in an EC is not favorable. The Executive Condominiums are also priced about 25% when compared with the private condominiums on the same region. In addition, it is governed by a 99 year leasehold. The ECs are not considered being a freehold terrain.
Benefits of EC buyers
The EC buyers should apply for that CPF Housing grants. The CPF Housing grant very own set of eligibility considerations. To know if you are eligible, you can inquire towards the Singapore government. The grant ranges from $10,000 to $30,000 but very much dependent of the evaluation of your household gross income.
The high return of investment one of several EC properties are definitely dependent over their location. The facilities offered by the ECs are deeper the associated with amenities at the condominiums located in the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity for the Bishan MRT station rrs incredibly appealing towards working lecture. Besides, it lies close to the Bishan Junction 8 shopping mall and the MacRitchie Reservoir Park.
What to buy? EC or Fourth Avenue Residences Bukit timah BTO?
The ECs are made by private developers. The potential buyer of ECs are individuals to afford eco-friendly tea’s health benefits BTO but cannot pay for the price of a private property. The BTOs are being sold for the 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 carefully.