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 for you 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 Fourth Avenue Residences condo selling restrictions
The main difference involving the Executive Condominium and in which you condominium could be the ownership constraint. Owners of the ECs in order to be fulfil a smaller amount 5 years occupation period of time. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 numerous occupancy. However, the market is limited only to the Singapore Citizens as well as the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it costs nothing to be sold for the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for the use of the local homebuyers who can’t afford the prices of a private property and are also not legible to acquire new HDB flats, the restrictions were quite structured. If you are an investor, investing your money in an EC is not favorable. The Executive Condominiums are also priced about 25% less than the private condominiums globe same subject. In addition, it is susceptible to a 99 year leasehold. The ECs are not considered as a freehold site.
Benefits of EC buyers
The EC buyers are allowed to apply for the CPF Housing grants. The CPF Housing grant has many set of eligibility expectations. To know if you are eligible, you can inquire to 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 over their location. The facilities you can purchase the ECs are deeper the kind of amenities offered by the condominiums located towards the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity for the Bishan MRT station highly appealing towards the working lecture. Besides, it lies close to the Bishan Junction 8 local 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 to afford on the BTO but cannot spend the money for price of one’s private condominium. The BTOs are being sold to the subsidized price so there is no need to raise cash for an upfront payments. The budget and the restrictions of the EC might be of interest more meticulously.