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 is one good way to enjoy luxury living. Their pricing is quite affordable to the mass market.
Market and selling restrictions
The main difference in between Executive Condominium and an individual can condominium is the ownership reduction. Owners of the ECs in order to be fulfil a smaller amount 5 years occupation period of 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 Singapore Permanent Residents. When the EC will acquire its privatized status, it is provided for free to be sold into the foreigners. The privatized status can be acquired after 10 years.
Because the ECs were meant for that use on the local homebuyers who cannot afford the prices of a private property and Fourth Avenue Residences are also not legible to acquire new HDB flats, the restrictions were quite severe. 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 globe same area. In addition, it is prone to a 99 year leasehold. The ECs are not considered for a freehold terrain.
Benefits of EC buyers
The EC buyers should apply for your CPF Housing grants. The CPF Housing grant has many 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 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 offered by the ECs are much better the kind of amenities offered by the condominiums located towards the area. The Bishan Loft has been considered among the top performing ECs. Its proximity towards the Bishan MRT station can be quite appealing into the working type. Besides, it lies close to the Bishan Junction 8 retail center and the MacRitchie Reservoir Park.
What obtain? EC or BTO?
The ECs are made by private graphic designers. The potential buyer of ECs are individuals that afford eco-friendly tea’s health benefits BTO but cannot give the price associated with private apartment. The BTOs are being sold for the subsidized price so you do not have to raise cash a good upfront payment. The budget and the restrictions for this EC is highly recommended more carefully.