The Executive Condominiums in Singapore are also known as 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 certainly one good way to enjoy luxury living. Their expense is quite affordable to the mass market.
Market and selling restrictions
The main difference among the Executive Condominium and the individual condominium could be the ownership limitation. 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 marketplace is limited in order to the Singapore Citizens as well as the Singapore Permanent Residents. Marriage ceremony EC will acquire its privatized status, it costs nothing to be sold into the foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for Fourth Avenue Residences condo the use of your local homebuyers who can’t afford the prices of a personal property and are generally not legible to acquire new HDB flats, the restrictions were quite strict. If you are an investor, investing cash in an EC is not favorable. The Executive Condominiums are also priced about 25% reduce the private condominiums on the same aspect. In addition, it is prone to a 99 year leasehold. The ECs are not considered as a freehold site.
Benefits of EC buyers
The EC buyers are allowed to apply for the CPF Housing grants. The CPF Housing grant has its own set of eligibility considerations. To know if you are eligible, you can inquire for the Singapore government. The grant ranges from $10,000 to $30,000 but very much dependent of the evaluation of the household revenues.
The high return of investment among the EC properties are definitely dependent on their location. The facilities on offer at the ECs are much better the form of amenities you can buy from the condominiums located towards the area. The Bishan Loft has been considered as the top performing ECs. Its proximity on the Bishan MRT station rrs incredibly appealing to your working class. Besides, it lies close to the Bishan Junction 8 nearby mall and the MacRitchie Reservoir Park.
What get? EC or BTO?
The ECs are created by private developers. The potential buyer of ECs are individuals who’s going to afford greater BTO but cannot give the price of a private residence. The BTOs are being sold set at a subsidized price so a sensational scene to raise cash for an upfront payment amount. The budget and the restrictions for this EC might be of interest more completely.