The Executive Condominiums in Singapore are also since 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 expense is quite affordable to the mass market.
Market and selling restrictions
The main difference in between Executive Condominium and in which you condominium will be the ownership restriction. Owners of the ECs require fulfil at a minimum 5 years occupation period. This restriction is similar to your HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the information mill limited in order to the Singapore Citizens and also the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it is provided for free to be sold on the foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for the use of your 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 structured. If you are an investor, investing money in an EC is not favorable. The Executive Condominiums are also priced about 25% lower the private condominiums on the same subject. In addition, Fourth Avenue Residences Bukit timah it is prone to a 99 year leasehold. The ECs are not considered as a freehold home or property.
Benefits of EC buyers
The EC buyers are allowed to apply for your CPF Housing grants. The CPF Housing grant very own set of eligibility expectations. To know if you are eligible, you can inquire to the Singapore powers that be. The grant ranges from $10,000 to $30,000 but very much dependent within the evaluation of the household revenues.
The high return of investment one of several EC properties are definitely dependent on their location. The facilities made available by the ECs are much better the involving amenities offered by the condominiums located near to the area. The Bishan Loft has been considered among the top performing ECs. Its proximity on the Bishan MRT station is very appealing to the working training session. Besides, it lies close to the Bishan Junction 8 nearby mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are designed by private web developers. The potential buyer of ECs are individuals who can afford greater BTO but cannot give the price associated with private house. The BTOs are being sold at a subsidized price so there is no need to raise cash a great upfront payment amount. The budget and the restrictions for this EC should be thought about more completely.