The Executive Condominiums in Singapore are also called 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 in order to that of the private properties. The ECs are certainly one good way to enjoy luxury living. Their expense is quite affordable to the mass market.
Market and selling restrictions
The main difference concerned with the Executive Condominium and Fourth Avenue Residences Bukit timah an individual can condominium will be the ownership concern. Owners of the ECs to help fulfil a smaller amount 5 years occupation period of time. This restriction is similar to your HDB ownership rules. Any EC owner can sell the unit only after 5 regarding occupancy. However, the sector is limited only to the Singapore Citizens as well as the Singapore Permanent Residents. Marriage ceremony EC will acquire its privatized status, it costs nothing to be sold on the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for your use with 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 upmost. If you are an investor, investing cash in an EC is not favorable. The Executive Condominiums are also priced about 25% reduce the private condominiums from the same subject. In addition, it is prone to a 99 year leasehold. The ECs are not considered being a freehold property.
Benefits of EC buyers
The EC buyers are allowed to apply for your CPF Housing grants. The CPF Housing grant has its own set of eligibility measures. 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 one’s household revenues.
The high return of investment one of several EC properties are definitely dependent over their location. The facilities provided the ECs are closer to the kind of amenities presented the condominiums located near the area. The Bishan Loft has been considered among the top performing ECs. Its proximity for the Bishan MRT station is specially appealing towards the working type. Besides, it lies close to the Bishan Junction 8 store and the MacRitchie Reservoir Park.
What get? EC or BTO?
The ECs are created by private web developers. The potential buyer of ECs are individuals that afford higher than a BTO but cannot spend the money for price associated with private house. The BTOs are being sold to the subsidized price so to be able to to raise cash to upfront paying. The budget and the restrictions for this EC should be considered more carefully.