The Executive Condominiums in Singapore are also since 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 is one good way to enjoy luxury living. Their prices are quite affordable to the mass market.
Market and selling restrictions
The main difference in between Executive Condominium and the private condominium will be the ownership limitation. Owners of the ECs to be able to fulfil at a minimum 5 years occupation occasion. This restriction is similar for the HDB ownership rules. Any EC owner can sell the unit only after 5 regarding occupancy. However, the publication rack limited in order to the Fourth Avenue Residences singapore Citizens as well as the Singapore Permanent Residents. After the EC will acquire its privatized status, it costs nothing to be sold for the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for that use with the local homebuyers who cannot afford the prices of a private property and are also not legible to acquire new HDB flats, the restrictions were quite severe. If you are an investor, investing money in an EC is not favorable. The Executive Condominiums are also priced about 25% lower the private condominiums in the same region. In addition, it is susceptible to a 99 year leasehold. The ECs are not considered for a freehold site.
Benefits of EC buyers
The EC buyers should apply for the CPF Housing grants. The CPF Housing grant has some set of eligibility values. To know if you are eligible, you can inquire towards Singapore govt. 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 among the EC properties are definitely dependent over their location. The facilities you can purchase the ECs are deeper the associated with amenities you can buy from 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 highly appealing to your working type. Besides, it lies close to the Bishan Junction 8 local mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are put together by private graphic designers. The potential buyer of ECs are individuals individuals afford more than a BTO but cannot pay the price of a private property. The BTOs are being sold to the subsidized price so a sensational scene to raise cash for an upfront charge. The budget and the restrictions among the EC is highly recommended more properly.