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 in order to that of the private properties. The ECs are certainly one good way to enjoy luxury living. Their expense is quite affordable to the mass market.
Market and selling restrictions
The main difference in between Executive Condominium and the private condominium could be the ownership restriction. Owners of the ECs in order to be fulfil at a minimum 5 years occupation time. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the information mill limited only to the Singapore Citizens and the Singapore Permanent Residents. When the EC will acquire its privatized status, it cost nothing to be sold towards foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for your use of your 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 funds in an EC is not favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums from the same subject. 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 are permitted to apply for your CPF Housing grants. The CPF Housing grant possesses its own set of eligibility measures. To know if you are eligible, you can inquire towards the Singapore powers that be. The grant ranges from $10,000 to $30,000 but very much dependent of the evaluation of your household revenues.
The high return of investment one of several EC properties are definitely dependent on their location. The facilities offered by the ECs are much better the kind of amenities presented the condominiums located towards the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity on the Bishan MRT station is very appealing towards working training session. Besides, it lies close to the Bishan Junction 8 store and the MacRitchie Reservoir Park.
What obtain? EC or Fourth Avenue Residences Bukit timah BTO?
The ECs are put together by private graphic designers. The potential buyer of ECs are individuals to afford more than a BTO but cannot afford the price of one’s private condominium. The BTOs are being sold for the subsidized price so to be able to to raise cash for an upfront payments. The budget and the restrictions for this EC is highly recommended more with care.