The Executive Condominiums in Singapore are also since EC. In the past years, these HDB flats and Fourth Avenue Residences condo hybrid of private property have been becoming popular among the local real estate buyers. The amenities offered by the ECs are usually in order to that of the private properties. The ECs are one good way to enjoy luxury living. Their costs are 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 have to fulfil at a minimum 5 years occupation period. This restriction is similar for the 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 the Singapore Permanent Residents. When the EC will acquire its privatized status, it cost nothing to be sold into the foreigners. The privatized status can be acquired after 10 some time.
Because the ECs were meant for your use on the local homebuyers who cannot afford the prices of anyone property and they are not legible to acquire new HDB flats, the restrictions were quite strict. If you are an investor, investing difficult earned money in an EC isn’t favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums in the same region. In addition, it is under a 99 year leasehold. The ECs are not considered like a freehold site.
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 criteria. To know if you are eligible, you can inquire on the Singapore presidency. 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 one of several EC properties are definitely dependent on his or her location. The facilities offered by the ECs are closer to the regarding amenities presented the condominiums located towards the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity to your 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 get? EC or BTO?
The ECs are designed by private web developers. The potential buyer of ECs are individuals to afford higher than a BTO but cannot give the price of a private residence. The BTOs are being sold to the subsidized price so there is no need to raise cash the upfront charge. The budget and the restrictions with the EC might be of interest more properly.