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 to be able to that of the private properties. The ECs are certainly one good way to enjoy luxury living. Their prices are quite affordable to the mass market.
Market and selling restrictions
The main difference between the Executive Condominium and the individual condominium could be the ownership restriction. Owners of the ECs to be able to fulfil a smaller amount 5 years occupation period of time. 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 marketplace is limited and the Singapore Citizens and also the Singapore Permanent Residents. Marriage ceremony EC will acquire its privatized status, it is provided for free to be sold to the foreigners. The privatized status can be acquired after 10 yrs.
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, Fourth Avenue Residences Bukit timah the restrictions were quite severe. If you are an investor, investing difficult earned money in an EC is not favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums on same aspect. In addition, it is under a 99 year leasehold. The ECs are not considered being a freehold property.
Benefits of EC buyers
The EC buyers can apply for the CPF Housing grants. The CPF Housing grant has many 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 on the evaluation of the household gross income.
The high return of investment among the EC properties are definitely dependent on their own location. The facilities offered by the ECs are deeper the regarding amenities you can buy from the condominiums located near the area. The Bishan Loft has been considered as the top performing ECs. Its proximity on the Bishan MRT station can be quite appealing towards working lecture. Besides, it lies close to the Bishan Junction 8 store and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are manufactured by private developers. The potential buyer of ECs are individuals that afford more than a BTO but cannot pay the price on a private condominium. The BTOs are being sold to the subsidized price so you do not have to raise cash the upfront paying. The budget and the restrictions of the EC might be of interest more with care.