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 one good way to enjoy luxury living. Their expenditure is quite affordable to the mass market.
Market and selling restrictions
The main difference among the Executive Condominium and the private condominium is the ownership limitation. Owners of the ECs require fulfil a minimum of 5 years occupation period of time. This restriction is similar to your HDB ownership rules. Any EC owner can sell the unit only after 5 many years of occupancy. However, the marketplace is limited and the Singapore Citizens and Fourth Avenue Residences also the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it is free to be sold towards foreigners. The privatized status can be acquired after 10 years.
Because the ECs were meant for that use on the local homebuyers who cannot afford 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 difficult earned money in an EC is not favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums globe same aspect. In addition, it is under a 99 year leasehold. The ECs are not considered being a freehold yard.
Benefits of EC buyers
The EC buyers should apply for the CPF Housing grants. The CPF Housing grant has many 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 around evaluation of the household revenues.
The high return of investment among the EC properties are definitely dependent over their location. The facilities offered by the ECs are magnified the regarding amenities you can buy from the condominiums located in the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity to the Bishan MRT station highly appealing into the working kind. Besides, it lies close to the Bishan Junction 8 retail center and the MacRitchie Reservoir Park.
What shop for? EC or BTO?
The ECs are designed by private constructors. The potential buyer of ECs are individuals that afford eco-friendly tea’s health benefits BTO but cannot pay the price of a private residence. The BTOs are being sold set at a subsidized price so a sensational scene to raise cash for an upfront payments. The budget and the restrictions with the EC should be thought about more meticulously.