The Executive Condominiums in Singapore are also called 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 comparable to that of the private properties. The ECs is one good way to enjoy luxury living. Their expenditure is quite affordable to the mass market.
Market and selling restrictions
The main difference between the Executive Condominium and the non-public condominium may be the ownership limitation. Owners of the ECs to be able to fulfil at a minimum 5 years occupation period. This restriction is similar to your HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the publication rack limited in order to the Singapore Citizens and the Singapore Permanent Residents. After the EC will acquire its privatized status, it is free of charge to be sold on the foreigners. The privatized status can be acquired after 10 some time.
Because the ECs were meant for your use of the local homebuyers who cannot afford the prices of anyone property and are also not legible to acquire new HDB flats, the restrictions were quite stringent. If you are an investor, investing difficult earned money in an EC is not favorable. The Executive Condominiums are also priced about 25% lower the private condominiums on the same zone. In addition, it is subject to a 99 year leasehold. The ECs are not considered for a freehold site.
Benefits of EC buyers
The EC buyers are allowed to apply for Fourth Avenue Residences that CPF Housing grants. The CPF Housing grant very own set of eligibility criteria. To know if you are eligible, you can inquire towards Singapore govt. The grant ranges from $10,000 to $30,000 but very much dependent around evaluation of one's household revenues.
The high return of investment on the list of EC properties are definitely dependent on his or her location. The facilities on offer at the ECs are much better the involving amenities you can buy from the condominiums located near the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity on the Bishan MRT station is very appealing to your working kind. Besides, it lies close to the Bishan Junction 8 shopping mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are designed by private web developers. The potential buyer of ECs are individuals who's going to afford on the BTO but cannot pay for the price of a private condominium. The BTOs are being sold at a subsidized price so a sensational scene to raise cash to upfront paying. The budget and the restrictions among the EC is highly recommended more completely.