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 comparable to that of the private properties. The ECs is one good way to enjoy luxury living. Their prices are quite affordable to the mass market.
Market and selling restrictions
The main difference in between Executive Condominium and an individual can condominium will be the ownership reduction. Owners of the ECs require fulfil incredibly 5 years occupation period. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 connected with occupancy. However, the market is limited in order to the Singapore Citizens and the Singapore Permanent Residents. Following a EC will acquire its privatized status, it is free of charge to be sold to the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for the use of your local homebuyers who do not want the prices of a personal property and they are not legible to acquire new HDB flats, the restrictions were quite strict. If you are an investor, investing cash in an EC isn’t favorable. The Executive Condominiums are also priced about 25% reduce the private condominiums in the same zone. In addition, it is prone to a 99 year leasehold. The ECs are not considered as being a freehold home or property.
Benefits of EC buyers
The EC buyers might apply for your CPF Housing grants. The CPF Housing grant has some set of eligibility criteria. To know if you are eligible, you can inquire on the Singapore powers that be. 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 among the EC properties are definitely dependent on his or her location. The facilities made available by the ECs are better the kind of amenities you can buy from the condominiums located near to the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity to your Bishan MRT station rrs incredibly appealing to the working training session. Besides, it lies close to the Bishan Junction 8 nearby mall and the MacRitchie Reservoir Park.
What to buy? EC or Fourth Avenue Residences BTO?
The ECs are manufactured by private constructors. The potential buyer of ECs are individuals who can afford on the BTO but cannot spend the money for price for this private condominium. The BTOs are being sold at a subsidized price so there is no need to raise cash for an upfront payment amount. The budget and the restrictions of the EC should be considered more carefully.