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 for you 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 among the Executive Condominium and an individual can condominium may be the ownership constraint. Owners of the ECs require fulfil the equivalent of 5 years occupation period of time. This restriction is similar for the HDB ownership rules. Any EC owner can sell the unit only after 5 regarding occupancy. However, the market is limited in order to the Singapore Citizens along with the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it is free to be sold on the foreigners. The privatized status can be acquired after 10 many years.
Because the ECs were meant for your use of your local homebuyers who cannot afford the prices of a private property and Fourth Avenue Residences Bukit timah are also not legible to acquire new HDB flats, the restrictions were quite strict. If you are an investor, investing cash in an EC is not favorable. The Executive Condominiums are also priced about 25% when compared with the private condominiums on same area. In addition, it is under a 99 year leasehold. The ECs are not considered as a freehold property.
Benefits of EC buyers
The EC buyers might apply for the CPF Housing grants. The CPF Housing grant has many set of eligibility measures. To know if you are eligible, you can inquire for the Singapore presidency. The grant ranges from $10,000 to $30,000 but very much dependent within the evaluation of the household gross income.
The high return of investment one of several EC properties are definitely dependent on their location. The facilities you can purchase the ECs are closer to the involving amenities supplied by the condominiums located in the area. The Bishan Loft has been considered among the top performing ECs. Its proximity on the Bishan MRT station is very appealing towards working class. Besides, it lies close to the Bishan Junction 8 store and the MacRitchie Reservoir Park.
What get? EC or BTO?
The ECs are manufactured by private graphic designers. The potential buyer of ECs are individuals to afford greater BTO but cannot give the price of one’s private property. The BTOs are being sold to the subsidized price so there is no need to raise cash a great upfront payment. The budget and the restrictions belonging to the EC is highly recommended more with care.