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 for you 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 concerned with the Executive Condominium and an individual can condominium will be the ownership constraint. Owners of the ECs in order to be fulfil a minimum of 5 years occupation time. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the information mill limited and the Singapore Citizens along with the Singapore Permanent Residents. Following a EC will acquire its privatized status, it is provided for Fourth Avenue Residences Bukit timah free to be sold for the foreigners. The privatized status can be acquired after 10 some time.
Because the ECs were meant for that use of the local homebuyers who can’t afford the prices of a person property and tend to be not legible to acquire new HDB flats, the restrictions were quite structured. If you are an investor, investing cash in an EC is not favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums in the same area. In addition, it is governed by a 99 year leasehold. The ECs are not considered as a freehold home or property.
Benefits of EC buyers
The EC buyers should apply for the 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 presidency. 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 among the EC properties are definitely dependent on their own location. The facilities on offer at the ECs are deeper the regarding amenities offered by the condominiums located close to the area. The Bishan Loft has been considered among the top performing ECs. Its proximity for the Bishan MRT station can be quite appealing towards the working class. 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 put together by private web developers. The potential buyer of ECs are individuals who’s going to afford more than a BTO but cannot pay the price on a private condominium. The BTOs are being sold set at a subsidized price so there is no need to raise cash for an upfront payment amount. The budget and the restrictions for this EC should be thought about more with care.