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 are one good way to enjoy luxury living. Their expenditure is quite affordable to the mass market.
Market and selling restrictions
The main difference among the Executive Condominium and the private condominium may be the ownership limitation. Owners of the ECs in order to be fulfil incredibly 5 years occupation frame of time. This restriction is similar into the HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the sector is limited only to the Singapore Citizens and also the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it cost nothing to be sold to the foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for your use for the local homebuyers who cannot afford the prices of anyone property and are generally not legible to acquire new HDB flats, the restrictions were quite upmost. If you are an investor, investing your money in an EC is not favorable. The Executive Condominiums are also priced about 25% when compared with the private condominiums globe same subject. In addition, it is subject to a 99 year leasehold. The ECs are not considered being a freehold home or property.
Benefits of EC buyers
The EC buyers are allowed to apply for that CPF Housing grants. The CPF Housing grant has some set of eligibility considerations. To know if you are eligible, you can inquire for the Fourth Avenue Residences singapore government. 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 on the list of EC properties are definitely dependent in their location. The facilities on offer at the ECs are better the regarding amenities you can buy from the condominiums located near to the area. The Bishan Loft has been considered among the top performing ECs. Its proximity on the Bishan MRT station is very appealing into the working training session. Besides, it lies close to the Bishan Junction 8 shopping mall and the MacRitchie Reservoir Park.
What obtain? EC or BTO?
The ECs are created by private graphic designers. The potential buyer of ECs are individuals who’s going to afford on the BTO but cannot give the price on a private apartment. The BTOs are being sold for the subsidized price so there is no need to raise cash for an upfront payment amount. The budget and the restrictions belonging to the EC might be of interest more properly.