The Executive Condominiums in Singapore are also in order to 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 similar 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 concerned with the Executive Condominium and the non-public condominium is the ownership reduction. Owners of the ECs to help fulfil a minimum of 5 years occupation period. This restriction is similar into the HDB ownership rules. Any EC owner can sell the unit only after 5 regarding occupancy. However, the information mill limited only to the Singapore Citizens and the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it is provided for free to be sold to the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for that use of your local homebuyers who can’t afford the prices of a private property and tend to be not legible to acquire new HDB flats, the restrictions were quite stringent. If you are an investor, investing difficult earned money in an EC isn’t favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums globe same zone. In addition, it is governed by a 99 year leasehold. The ECs are not considered for a freehold terrain.
Benefits of EC buyers
The EC buyers can apply for that CPF Housing grants. The CPF Housing grant has some set of eligibility expectations. To know if you are eligible, you can inquire on the Singapore powers that be. The grant ranges from $10,000 to $30,000 but very much dependent on his or her evaluation of your household gross income.
The high return of investment among the EC properties are definitely dependent on their location. The facilities on offer at the ECs are magnified the involving amenities at the condominiums located in the area. The Bishan Loft has been considered among the top performing ECs. Its proximity to your Bishan MRT station rrs incredibly appealing towards working type. 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 designed by private graphic designers. The potential buyer of ECs are individuals who can afford on the BTO but cannot afford the price for Fourth Avenue Residences Bukit timah this private apartment. The BTOs are being sold at a subsidized price so a sensational scene to raise cash the upfront payment. The budget and the restrictions belonging to the EC should be considered more carefully.