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 to be able 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 in between Executive Condominium and an individual can condominium will be the ownership limitation. Owners of the ECs to be able to fulfil at a minimum 5 years occupation period of time. This restriction is similar into the HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the publication rack limited only to the Singapore Citizens and the Singapore Permanent Residents. Following a EC will acquire its privatized status, it is provided for free to be sold for the foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for the use with the local homebuyers who can’t afford the prices of a person property and they are not legible to acquire new HDB flats, the restrictions were quite strict. If you are an investor, investing funds in an EC is not favorable. The Executive Condominiums are also priced about 25% lower the private condominiums in the same region. In addition, it is governed by a 99 year leasehold. The ECs are not considered as a freehold home or property.
Benefits of EC buyers
The EC buyers should apply for Fourth Avenue Residences the CPF Housing grants. The CPF Housing grant very own set of eligibility considerations. To know if you are eligible, you can inquire towards Singapore govt. The grant ranges from $10,000 to $30,000 but very much dependent within the evaluation of the household revenues.
The high return of investment among the EC properties are definitely dependent on their location. The facilities you can purchase the ECs are closer to the regarding amenities you can buy from the condominiums located towards the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity for the Bishan MRT station rrs incredibly appealing towards working lecture. Besides, it lies close to the Bishan Junction 8 nearby mall and the MacRitchie Reservoir Park.
What obtain? EC or BTO?
The ECs are put together by private graphic designers. The potential buyer of ECs are individuals to afford more than a BTO but cannot spend the money for price on a private property. The BTOs are being sold at a subsidized price so there is no need to raise cash the upfront charge. The budget and the restrictions for this EC should be considered more with care.