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 one good way to enjoy luxury living. Their prices are quite affordable to the mass market.
Market and selling restrictions
The main difference concerned with the Executive Condominium and the non-public condominium is the ownership limitation. Owners of the ECs to be able to fulfil a smaller amount 5 years occupation time. This restriction is similar towards the HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the market is limited and the Singapore Citizens along with 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 years.
Because the ECs were meant for your use on the local homebuyers who do not want the prices of a private property and Fourth Avenue Residences condo are generally not legible to acquire new HDB flats, the restrictions were quite severe. If you are an investor, investing funds in an EC is not favorable. The Executive Condominiums are also priced about 25% when compared with the private condominiums on the same subject. In addition, it is governed by a 99 year leasehold. The ECs are not considered like a freehold property.
Benefits of EC buyers
The EC buyers can 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 towards the Singapore presidency. The grant ranges from $10,000 to $30,000 but very much dependent of the evaluation of one’s household gross income.
The high return of investment among the EC properties are definitely dependent in their location. The facilities made available by the ECs are magnified the regarding amenities at the condominiums located near the area. The Bishan Loft has been considered as the top performing ECs. Its proximity to your Bishan MRT station rrs incredibly appealing to the working class. Besides, it lies close to the Bishan Junction 8 store and the MacRitchie Reservoir Park.
What shop for? EC or BTO?
The ECs are manufactured by private developers. The potential buyer of ECs are individuals who can afford on the BTO but cannot give the price for this private apartment. The BTOs are being sold to the subsidized price so there’s no requirement to raise cash a good upfront payment amount. The budget and the restrictions of the EC might be of interest more carefully.