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 comparable 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 involving the Executive Condominium and in which you condominium may be the ownership reduction. Owners of the ECs in order to be fulfil at a minimum 5 years occupation time. This restriction is similar into the HDB ownership rules. Any EC owner can sell the unit only after 5 numerous occupancy. However, the information mill limited only to the Singapore Citizens along with the Fourth Avenue Residences singapore Permanent Residents. Marriage ceremony EC will acquire its privatized status, it is free to be sold to the foreigners. The privatized status can be acquired after 10 many years.
Because the ECs were meant for that use for the local homebuyers who cannot afford the prices of a non-public property and they are not legible to acquire new HDB flats, the restrictions were quite stringent. If you are an investor, investing your money in an EC isn’t favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums in the same region. 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 your CPF Housing grants. The CPF Housing grant has some set of eligibility measures. To know if you are eligible, you can inquire on the Singapore presidency. The grant ranges from $10,000 to $30,000 but very much dependent on the evaluation of the household revenues.
The high return of investment on the list of EC properties are definitely dependent on his or her location. The facilities provided the ECs are deeper the kind of amenities presented the condominiums located near to the area. The Bishan Loft has been considered as the top performing ECs. Its proximity to the Bishan MRT station is specially appealing towards the working training session. Besides, it lies close to the Bishan Junction 8 retail center and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are put together by private constructors. The potential buyer of ECs are individuals who can afford greater BTO but cannot pay for the price for this private residence. The BTOs are being sold set at a subsidized price so a sensational scene to raise cash to upfront paying. The budget and the restrictions among the EC should be considered more properly.