The Executive Condominiums in Singapore are also known 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 to be able to that of the private properties. The ECs are certainly one good way to enjoy luxury living. Their pricing is quite affordable to the mass market.
Market and selling restrictions
The main difference in between Executive Condominium and the private condominium could be the ownership limitation. Owners of the ECs require fulfil the equivalent of 5 years occupation time. This restriction is similar towards the HDB ownership rules. Any EC owner can sell the unit only after 5 regarding occupancy. However, the sector is limited in order to the Singapore Citizens as well as the Singapore Permanent Residents. When the EC will acquire its privatized status, it is provided for free to be sold towards foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for your use on the local homebuyers who cannot afford the prices of a private 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 isn’t favorable. The Executive Condominiums are also priced about 25% lower the private condominiums in the same zone. In addition, it is under a 99 year leasehold. The ECs are not considered being a freehold site.
Benefits of EC buyers
The EC buyers might apply for that CPF Housing grants. The CPF Housing grant has some set of eligibility values. To know if you are eligible, Fourth Avenue Residences condo you can inquire on the Singapore government. The grant ranges from $10,000 to $30,000 but very much dependent around evaluation of the household gross income.
The high return of investment one of several EC properties are definitely dependent on their own location. The facilities offered by the ECs are better the involving amenities at the condominiums located towards the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity to your Bishan MRT station can be quite appealing towards the working kind. Besides, it lies close to the Bishan Junction 8 shopping mall and the MacRitchie Reservoir Park.
What get? EC or BTO?
The ECs are created by private graphic designers. The potential buyer of ECs are individuals who can afford more than a BTO but cannot afford the price of a private residence. The BTOs are being sold to the subsidized price so you do not have to raise cash for an upfront paying. The budget and the restrictions belonging to the EC should be thought about more properly.