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 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 the non-public condominium could be the ownership reduction. Owners of the ECs to help fulfil at a minimum 5 years occupation period of time. This restriction is similar for the HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the information mill limited in order to the Singapore Citizens as well as the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it costs nothing to be sold into the foreigners. The privatized status can be acquired after 10 years.
Because the ECs were meant for the use on the local homebuyers who do not want the prices of a private property and are generally not legible to acquire new HDB flats, the restrictions were quite upmost. If you are an investor, investing difficult earned money in an EC is not favorable. The Executive Condominiums are also priced about 25% when compared with the private condominiums on same subject. In addition, it is susceptible to a 99 year leasehold. The ECs are not considered being a freehold terrain.
Benefits of EC buyers
The EC buyers are allowed to apply for the CPF Housing grants. The CPF Housing grant has its own set of eligibility values. To know if you are eligible, you can inquire for the Singapore govt. The grant ranges from $10,000 to $30,000 but very much dependent on his or her evaluation of your household gross income.
The high return of investment one of several EC properties are definitely dependent on his or Fourth Avenue Residences Bukit timah her location. The facilities on offer at the ECs are deeper the kind of amenities presented the condominiums located near to the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity towards the Bishan MRT station is specially appealing to the working lecture. Besides, it lies close to the Bishan Junction 8 store and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are created by private developers. The potential buyer of ECs are individuals who can afford greater BTO but cannot give the price associated with private property. The BTOs are being sold to the subsidized price so there’s no requirement to raise cash for an upfront payment. The budget and the restrictions for this EC should be thought about more properly.