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 for you to that of the private properties. The ECs is one good way to enjoy luxury living. Their prices are quite affordable to the mass market.
Market and selling restrictions
The main difference among the Executive Condominium and the individual condominium is the ownership constraint. Owners of the ECs require fulfil at a minimum 5 years occupation period of time. This restriction is similar into the HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the sector is limited only to the Singapore Citizens as well as the Singapore Permanent Residents. When the EC will acquire its privatized status, it cost nothing to be sold to the foreigners. The privatized status can be acquired after 10 some time.
Because the ECs were meant for the use with the local homebuyers who do not want the prices of a private property and tend to be not legible to acquire new HDB flats, the restrictions were quite strict. If you are an investor, investing cash in an EC is not favorable. The Executive Condominiums are also priced about 25% when compared with the private condominiums on the same subject. In addition, it is prone to a 99 year leasehold. The ECs are not considered being a freehold yard.
Benefits of EC buyers
The EC buyers can apply for that CPF Housing grants. The CPF Housing grant has its own set of eligibility measures. To know if you are eligible, you can inquire to the Singapore government. The grant ranges from $10,000 to $30,000 but very much dependent on the evaluation of one’s household gross income.
The high return of investment on the list of EC properties are definitely dependent over their location. The facilities offered by the ECs are deeper the associated with amenities offered by the condominiums located near the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity towards the Bishan MRT station rrs incredibly appealing to your working type. Besides, it lies close to the Bishan Junction 8 nearby mall and the MacRitchie Reservoir Park.
What get? EC or BTO?
The ECs are created by private constructors. The potential buyer of ECs are individuals who can afford higher than a BTO but cannot pay the price on a private condominium. The BTOs are being sold for Fourth Avenue Residences condo the subsidized price so there is no need to raise cash to upfront payments. The budget and the restrictions of the EC should be considered more completely.