The Executive Condominiums in Singapore are also in order to 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 are certainly one good way to enjoy luxury living. Their pricing is quite affordable to the mass market.
Market and selling restrictions
The main difference among the Executive Condominium and the individual condominium is the ownership limitation. Owners of the ECs in order to be fulfil the equivalent of 5 years occupation frame of time. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 connected with occupancy. However, the marketplace is limited only to the Singapore Citizens and Fourth Avenue Residences condo also the Singapore Permanent Residents. Marriage ceremony EC will acquire its privatized status, it is free of charge to be sold to the foreigners. The privatized status can be acquired after 10 years.
Because the ECs were meant for that use for the local homebuyers who can’t afford the prices of anyone property and they are not legible to acquire new HDB flats, the restrictions were quite structured. If you are an investor, investing funds in an EC is not favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums on same subject. In addition, it is subject to a 99 year leasehold. The ECs are not considered as being a freehold home or property.
Benefits of EC buyers
The EC buyers might apply for the CPF Housing grants. The CPF Housing grant has some set of eligibility measures. To know if you are eligible, you can inquire towards the Singapore government. The grant ranges from $10,000 to $30,000 but very much dependent around evaluation of the household revenues.
The high return of investment on the list of EC properties are definitely dependent in their location. The facilities on offer at the ECs are better the form of amenities at the condominiums located near to the area. The Bishan Loft has been considered among the top performing ECs. Its proximity on the Bishan MRT station is very appealing to your working training session. Besides, it lies close to the Bishan Junction 8 retail center and the MacRitchie Reservoir Park.
What get? EC or BTO?
The ECs are created by private developers. The potential buyer of ECs are individuals that afford higher than a BTO but cannot pay the price of one’s private apartment. The BTOs are being sold set at a subsidized price so there is no need to raise cash to upfront payments. The budget and the restrictions of the EC should be considered more carefully.