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 are one good way to enjoy luxury living. Their prices are quite affordable to the mass market.
Market and selling restrictions
The main difference between the Executive Condominium and the private condominium may be the ownership limitation. Owners of the ECs in order to be 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 years of occupancy. However, the sector is limited only to the Singapore Citizens along with the Singapore Permanent Residents. Marriage ceremony EC will acquire its privatized status, it is free of charge to be sold for the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for your use of your local homebuyers who cannot afford the prices of a personal property and Fourth Avenue Residences condo tend to be not legible to acquire new HDB flats, the restrictions were quite upmost. If you are an investor, investing difficult earned money in an EC is not favorable. The Executive Condominiums are also priced about 25% when compared with the private condominiums on the same region. In addition, it is under a 99 year leasehold. The ECs are not considered as a freehold yard.
Benefits of EC buyers
The EC buyers should apply for your CPF Housing grants. The CPF Housing grant has its own set of eligibility criteria. To know if you are eligible, you can inquire towards the Singapore govt. The grant ranges from $10,000 to $30,000 but very much dependent on the evaluation of the household gross income.
The high return of investment among the EC properties are definitely dependent in their location. The facilities on offer at the ECs are magnified the kind of amenities supplied by the condominiums located near the area. The Bishan Loft has been considered as the top performing ECs. Its proximity towards the Bishan MRT station is specially appealing into the working type. Besides, it lies close to the Bishan Junction 8 retail center and the MacRitchie Reservoir Park.
What get? EC or BTO?
The ECs are made by private constructors. The potential buyer of ECs are individuals who can afford eco-friendly tea's health benefits BTO but cannot spend the money for price on a private apartment. The BTOs are being sold set at a subsidized price so you do not have to raise cash a great upfront payment. The budget and the restrictions of the EC is highly recommended more carefully.