The Executive Condominiums in Singapore are also in order to 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 expenditure is quite affordable to the mass market.
Market and selling restrictions
The main difference between the Executive Condominium and in which you condominium may be the ownership restriction. Owners of the ECs require fulfil a smaller amount 5 years occupation period. This restriction is similar into the HDB ownership rules. Any EC owner can sell the unit only after 5 many years of occupancy. However, the information mill limited in order to the Singapore Citizens as well as the Fourth Avenue Residences singapore Permanent Residents. Following a EC will acquire its privatized status, it is free to be sold into the foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for the use for the local homebuyers who cannot afford the prices of a personal property and are also not legible to acquire new HDB flats, the restrictions were quite structured. If you are an investor, investing your money in an EC isn’t favorable. The Executive Condominiums are also priced about 25% less than the private condominiums globe same aspect. In addition, it is subject to a 99 year leasehold. The ECs are not considered as a freehold home or property.
Benefits of EC buyers
The EC buyers might apply for your CPF Housing grants. The CPF Housing grant has many set of eligibility measures. To know if you are eligible, you can inquire towards the Singapore govt. The grant ranges from $10,000 to $30,000 but very much dependent around evaluation of the household revenues.
The high return of investment on the list of EC properties are definitely dependent on their own location. The facilities provided the ECs are magnified the kind of amenities offered by the condominiums located towards the area. The Bishan Loft has been considered among the top performing ECs. Its proximity to the Bishan MRT station is very appealing to your working training session. Besides, it lies close to the Bishan Junction 8 nearby mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are created by private developers. The potential buyer of ECs are individuals to afford on the BTO but cannot give the price of a private house. The BTOs are being sold at a subsidized price so there is no need to raise cash the upfront payments. The budget and the restrictions for this EC might be of interest more carefully.