The Executive Condominiums in Singapore are also known 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 for you to that of the private properties. The ECs are one good way to enjoy luxury living. Their expenditure is quite affordable to the mass market.
Market and selling restrictions
The main difference among the Executive Condominium and Fourth Avenue Residences Bukit timah an individual can condominium may be the ownership concern. Owners of the ECs to help fulfil the equivalent of 5 years occupation period. This restriction is similar into the HDB ownership rules. Any EC owner can sell the unit only after 5 connected with occupancy. However, the market is limited in order to the Singapore Citizens along with 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 some time.
Because the ECs were meant for your use of the local homebuyers who can’t afford the prices of a non-public property and 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 isn’t favorable. The Executive Condominiums are also priced about 25% lower the private condominiums on the same zone. In addition, it is governed by a 99 year leasehold. The ECs are not considered as being a freehold home or property.
Benefits of EC buyers
The EC buyers are permitted to apply for your CPF Housing grants. The CPF Housing grant has its own set of eligibility expectations. To know if you are eligible, you can inquire for the Singapore government. 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 one of several EC properties are definitely dependent on their own location. The facilities made available by the ECs are magnified the regarding amenities presented the condominiums located close to the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity on the Bishan MRT station highly appealing to the working type. Besides, it lies close to the Bishan Junction 8 local mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are created by private developers. The potential buyer of ECs are individuals who can afford eco-friendly tea’s health benefits BTO but cannot pay the price on a private apartment. The BTOs are being sold to the subsidized price so there’s no requirement to raise cash a good upfront payment. The budget and the restrictions among the EC is highly recommended more properly.