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 for you 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 between the Executive Condominium and an individual can condominium is the ownership restriction. Owners of the ECs have to fulfil the equivalent of 5 years occupation period. This restriction is similar for the HDB ownership rules. Any EC owner can sell the unit only after 5 numerous occupancy. However, the publication rack limited only to the Singapore Citizens along with the Fourth Avenue Residences singapore Permanent Residents. Marriage ceremony EC will acquire its privatized status, it is free of charge to be sold on the foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for the use for the local homebuyers who do not want the prices of a personal property and are also not legible to acquire new HDB flats, the restrictions were quite stringent. If you are an investor, investing difficult earned money in an EC is not favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums on the same region. In addition, it is prone to a 99 year leasehold. The ECs are not considered as a freehold home or property.
Benefits of EC buyers
The EC buyers should apply for the CPF Housing grants. The CPF Housing grant has many set of eligibility values. To know if you are eligible, you can inquire on the Singapore govt. The grant ranges from $10,000 to $30,000 but very much dependent of the evaluation of one’s household revenues.
The high return of investment among the EC properties are definitely dependent on his or her location. The facilities provided the ECs are better the associated with amenities offered by the condominiums located near the area. The Bishan Loft has been considered among the top performing ECs. Its proximity on the Bishan MRT station rrs incredibly appealing to the working lecture. 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 developers. The potential buyer of ECs are individuals individuals afford eco-friendly tea’s health benefits BTO but cannot pay the price of one’s private house. The BTOs are being sold to the subsidized price so to be able to to raise cash to upfront payment amount. The budget and the restrictions belonging to the EC might be of interest more completely.