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 in order to that of the private properties. The ECs are certainly one good way to enjoy luxury living. Their expense is quite affordable to the mass market.
Market and selling restrictions
The main difference involving the Executive Condominium and in which you condominium will be the ownership concern. Owners of the ECs have to fulfil incredibly 5 years occupation period. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 regarding occupancy. However, the publication rack limited only to the Singapore Citizens and also the Singapore Permanent Residents. Following a 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 of the local homebuyers who cannot afford the prices of a non-public property and tend to be not legible to acquire new HDB flats, the restrictions were quite upmost. If you are an investor, investing your money in an EC isn’t favorable. The Executive Condominiums are also priced about 25% when compared with the private condominiums on same aspect. In addition, Fourth Avenue Residences Bukit timah it is subject to a 99 year leasehold. The ECs are not considered being a freehold property.
Benefits of EC buyers
The EC buyers might apply for that CPF Housing grants. The CPF Housing grant has many set of eligibility expectations. To know if you are eligible, you can inquire on the Singapore powers that be. The grant ranges from $10,000 to $30,000 but very much dependent within the evaluation of your household revenues.
The high return of investment on the list of EC properties are definitely dependent on his or her location. The facilities made available by the ECs are magnified the involving amenities supplied by the condominiums located in the area. The Bishan Loft has been considered among the top performing ECs. Its proximity to your Bishan MRT station is very appealing to the working type. 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 eco-friendly tea’s health benefits BTO but cannot afford the price on a private condominium. The BTOs are being sold set at a subsidized price so there is no need to raise cash to upfront charge. The budget and the restrictions belonging to the EC is highly recommended more carefully.