The Executive Condominiums in Singapore are also known as EC. In the past years, these HDB flats and Fourth Avenue Residences condo 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 costs are quite affordable to the mass market.
Market and selling restrictions
The main difference among the Executive Condominium and an individual can condominium will be the ownership constraint. Owners of the ECs in order to be fulfil the equivalent of 5 years occupation time. 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 information mill limited only to the Singapore Citizens and also the Singapore Permanent Residents. After the EC will acquire its privatized status, it costs nothing to be sold towards foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for the use on the local homebuyers who do not want the prices of anyone property and are also not legible to acquire new HDB flats, the restrictions were quite stringent. 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 on same region. In addition, it is governed by a 99 year leasehold. The ECs are not considered for a freehold property.
Benefits of EC buyers
The EC buyers can apply for your CPF Housing grants. The CPF Housing grant has some set of eligibility measures. To know if you are eligible, you can inquire on the Singapore united states government. 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 one of several EC properties are definitely dependent on his or her location. The facilities made available by the ECs are closer to the involving amenities you can buy from the condominiums located near to the area. The Bishan Loft has been considered among the top performing ECs. Its proximity to your Bishan MRT station is very appealing into the working type. Besides, it lies close to the Bishan Junction 8 store and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are manufactured by private developers. The potential buyer of ECs are individuals individuals afford greater BTO but cannot pay for the price associated with private house. The BTOs are being sold to the subsidized price so a sensational scene to raise cash to upfront payment amount. The budget and the restrictions with the EC should be thought about more meticulously.