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 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 involving the Executive Condominium and Fourth Avenue Residences an individual can condominium is the ownership concern. Owners of the ECs require fulfil a minimum of 5 years occupation time. This restriction is similar towards the HDB ownership rules. Any EC owner can sell the unit only after 5 many years of occupancy. However, the market is limited only to the Singapore Citizens and the Singapore Permanent Residents. Following a EC will acquire its privatized status, it cost nothing to be sold to the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for that use with the local homebuyers who can’t afford the prices of a private property and tend to be not legible to acquire new HDB flats, the restrictions were quite strict. If you are an investor, investing funds in an EC isn’t favorable. The Executive Condominiums are also priced about 25% lower the private condominiums on the same area. In addition, it is under a 99 year leasehold. The ECs are not considered like a freehold terrain.
Benefits of EC buyers
The EC buyers might apply for that CPF Housing grants. The CPF Housing grant possesses its own set of eligibility criteria. 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 around evaluation of one’s household gross income.
The high return of investment among the EC properties are definitely dependent on their own location. The facilities provided the ECs are deeper the kind of amenities at the condominiums located in the area. The Bishan Loft has been considered as the top performing ECs. Its proximity for the Bishan MRT station highly appealing to the working kind. Besides, it lies close to the Bishan Junction 8 retail center and the MacRitchie Reservoir Park.
What shop for? EC or BTO?
The ECs are put together by private graphic designers. 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 apartment. The BTOs are being sold to the subsidized price so there’s no requirement to raise cash a good upfront payment. The budget and the restrictions with the EC is highly recommended more with care.