The Executive Condominiums in Singapore are also since 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 to be able to that of the private properties. The ECs are one good way to enjoy luxury living. Their expense is quite affordable to the mass market.
Market and selling restrictions
The main difference in between Executive Condominium and an individual can condominium may be the ownership constraint. Owners of the ECs require 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 years of occupancy. However, the sector is limited only to the Singapore Citizens and the Fourth Avenue Residences singapore Permanent Residents. Marriage ceremony 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 the use for the local homebuyers who do not want the prices of a person property and are also not legible to acquire new HDB flats, the restrictions were quite stringent. If you are an investor, investing your money in an EC is not favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums globe same zone. In addition, it is susceptible to a 99 year leasehold. The ECs are not considered like a freehold property.
Benefits of EC buyers
The EC buyers are allowed to apply for the CPF Housing grants. The CPF Housing grant has its own set of eligibility expectations. To know if you are eligible, you can inquire to the Singapore powers that be. The grant ranges from $10,000 to $30,000 but very much dependent within 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 made available by the ECs are better the involving amenities supplied by the condominiums located in the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity towards the Bishan MRT station is very appealing towards 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 manufactured by private developers. The potential buyer of ECs are individuals who’s going to afford greater BTO but cannot spend the money for price of one’s private apartment. The BTOs are being sold for the subsidized price so you do not have to raise cash a good upfront payment amount. The budget and the restrictions of the EC might be of interest more with care.