The Executive Condominiums in Singapore are also in order to as 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 in order to that of the private properties. The ECs is one good way to enjoy luxury living. Their expense is quite affordable to the mass market.
Market and selling restrictions
The main difference between the Executive Condominium and in which you condominium will be the ownership constraint. Owners of the ECs have to fulfil a minimum of 5 years occupation period. This restriction is similar towards the HDB ownership rules. Any EC owner can sell the unit only after 5 regarding occupancy. However, the information mill limited only to the Singapore Citizens and the Fourth Avenue Residences singapore Permanent Residents. Marriage ceremony 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 months.
Because the ECs were meant for your use for the local homebuyers who cannot afford the prices of a non-public property and they are not legible to acquire new HDB flats, the restrictions were quite upmost. If you are an investor, investing cash in an EC isn’t favorable. The Executive Condominiums are also priced about 25% when compared with the private condominiums on same zone. In addition, it is under 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 many set of eligibility considerations. To know if you are eligible, you can inquire for the Singapore powers that be. The grant ranges from $10,000 to $30,000 but very much dependent of the evaluation of one’s household revenues.
The high return of investment one of several EC properties are definitely dependent on their own location. The facilities provided the ECs are much better the regarding amenities offered by the condominiums located near the area. The Bishan Loft has been considered as the top performing ECs. Its proximity for the Bishan MRT station highly appealing towards the working class. Besides, it lies close to the Bishan Junction 8 local mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are made by private developers. The potential buyer of ECs are individuals to afford greater BTO but cannot spend the money for price associated with private house. The BTOs are being sold to the subsidized price so there’s no requirement to raise cash for an upfront payment amount. The budget and the restrictions for this EC might be of interest more properly.