The Executive Condominiums in Singapore are also called 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 in between Executive Condominium and in which you condominium will be the ownership reduction. Owners of the ECs to help fulfil the equivalent of 5 years occupation occasion. This restriction is similar into the HDB ownership rules. Any EC owner can sell the unit only after 5 regarding occupancy. However, the market is limited and the Singapore Citizens as well as the Singapore Permanent Residents. After the EC will acquire its privatized status, it cost nothing to be sold into the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for the use with the local homebuyers who cannot afford the prices of a person property and tend to be not legible to acquire new HDB flats, the restrictions were quite upmost. If you are an investor, investing cash in an EC is not favorable. The Executive Condominiums are also priced about 25% lower the private condominiums on same area. In addition, it is prone to a 99 year leasehold. The ECs are not considered like a freehold terrain.
Benefits of EC buyers
The EC buyers are allowed to apply for that CPF Housing grants. The CPF Housing grant very own set of eligibility values. To know if you are eligible, you can inquire towards Fourth Avenue Residences singapore presidency. The grant ranges from $10,000 to $30,000 but very much dependent around evaluation of one’s household revenues.
The high return of investment one of several EC properties are definitely dependent on his or her location. The facilities made available by the ECs are magnified the kind of amenities offered by the condominiums located close to the area. The Bishan Loft has been considered as the top performing ECs. Its proximity towards the Bishan MRT station is very appealing to the working training session. Besides, it lies close to the Bishan Junction 8 shopping mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are made by private developers. The potential buyer of ECs are individuals that afford higher than a BTO but cannot afford the price on a private property. The BTOs are being sold for the subsidized price so a sensational scene to raise cash a great upfront payment amount. The budget and the restrictions among the EC should be thought about more meticulously.