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 for you to that of the private properties. The ECs are certainly one good way to enjoy luxury living. Their expenditure is quite affordable to the mass market.
Market and selling restrictions
The main difference concerned with the Executive Condominium and an individual can condominium could be the ownership constraint. Owners of the ECs to be able to fulfil the equivalent of 5 years occupation time. 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 along with the Singapore Permanent Residents. When the EC will acquire its privatized status, it cost nothing to be sold to the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for Fourth Avenue Residences Bukit timah your use with the local homebuyers who cannot afford the prices of a non-public property and are also not legible to acquire new HDB flats, the restrictions were quite stringent. If you are an investor, investing funds in an EC is not favorable. The Executive Condominiums are also priced about 25% less than the private condominiums in the same region. In addition, it is prone to a 99 year leasehold. The ECs are not considered like a freehold property.
Benefits of EC buyers
The EC buyers are permitted to apply for the CPF Housing grants. The CPF Housing grant has its 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 one’s household revenues.
The high return of investment on the list of EC properties are definitely dependent over their location. The facilities provided the ECs are deeper the form of amenities you can buy from the condominiums located close to the area. The Bishan Loft has been considered as the top performing ECs. Its proximity on the Bishan MRT station is very appealing towards working kind. 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 created by private web developers. The potential buyer of ECs are individuals that afford higher than a BTO but cannot pay the price of a private residence. The BTOs are being sold at a subsidized price so a sensational scene to raise cash a great upfront payment amount. The budget and the restrictions of the EC is highly recommended more with care.