The Executive Condominiums in Singapore are also in order to 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 similar to that of the private properties. The ECs is one good way to enjoy luxury living. Their prices are quite affordable to the mass market.
Market and selling restrictions
The main difference involving the Executive Condominium and the private condominium will be the ownership restriction. Owners of the ECs have to fulfil a minimum of 5 years occupation frame of time. This restriction is similar for the HDB ownership rules. Any EC owner can sell the unit only after 5 regarding occupancy. However, the sector is limited only to the Singapore Citizens and the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it is free to be sold for the foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for that use of the local homebuyers who can’t afford the prices of a private property and are also not legible to acquire new HDB flats, Fourth Avenue Residences condo the restrictions were quite structured. If you are an investor, investing your money in an EC isn’t favorable. The Executive Condominiums are also priced about 25% when compared with the private condominiums globe same area. In addition, it is subject to a 99 year leasehold. The ECs are not considered as being a freehold property.
Benefits of EC buyers
The EC buyers are allowed to apply for your CPF Housing grants. The CPF Housing grant has many set of eligibility considerations. To know if you are eligible, you can inquire for the Singapore powers that be. The grant ranges from $10,000 to $30,000 but very much dependent around evaluation of the household gross income.
The high return of investment among the EC properties are definitely dependent in their location. The facilities on offer at the ECs are deeper the involving amenities at the condominiums located close to the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity towards the Bishan MRT station is very appealing into the working lecture. Besides, it lies close to the Bishan Junction 8 store and the MacRitchie Reservoir Park.
What get? EC or BTO?
The ECs are made by private web developers. The potential buyer of ECs are individuals who’s going to afford more than a BTO but cannot afford the price associated with private apartment. The BTOs are being sold for the subsidized price so you do not have to raise cash for an upfront payment. The budget and the restrictions among the EC should be considered more properly.