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 is one good way to enjoy luxury living. Their expenditure is quite affordable to the mass market.
Market and selling restrictions
The main difference among the Executive Condominium and the private condominium may be the ownership reduction. Owners of the ECs have to fulfil at a minimum 5 years occupation period. This restriction is similar towards the HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the market is limited in order to the Singapore Citizens and the Singapore Permanent Residents. After the EC will acquire its privatized status, it is free of charge to be sold on the foreigners. The privatized status can be acquired after 10 many years.
Because the ECs were meant for the use on the local homebuyers who do not want the prices of anyone property and are also not legible to acquire new HDB flats, the restrictions were quite severe. If you are an investor, investing cash in an EC isn’t favorable. The Executive Condominiums are also priced about 25% lower the private condominiums globe same aspect. In addition, it is susceptible to a 99 year leasehold. The ECs are not considered as a freehold yard.
Benefits of EC buyers
The EC buyers are permitted to apply for that CPF Housing grants. The CPF Housing grant has its own set of eligibility expectations. To know if you are eligible, you can inquire on the Fourth Avenue Residences singapore united states government. The grant ranges from $10,000 to $30,000 but very much dependent on the evaluation of your household gross income.
The high return of investment one of several EC properties are definitely dependent in their location. The facilities offered by the ECs are magnified the kind of amenities at the condominiums located near to the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity to your Bishan MRT station is very appealing towards the working type. Besides, it lies close to the Bishan Junction 8 store and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are designed by private constructors. The potential buyer of ECs are individuals individuals afford higher than a BTO but cannot pay the price of a private property. The BTOs are being sold to the subsidized price so a sensational scene to raise cash for an upfront payments. The budget and the restrictions among the EC should be thought about more properly.