The Executive Condominiums in Singapore are also in order to 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 is one good way to enjoy luxury living. Their costs are quite affordable to the mass market.
Market and selling restrictions
The main difference concerned with the Executive Condominium and the individual condominium will be the ownership constraint. Owners of the ECs have to fulfil incredibly 5 years occupation frame of time. This restriction is similar into the HDB ownership rules. Any EC owner can sell the unit only after 5 many years of occupancy. However, the information mill limited only to the Singapore Citizens as well as the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it costs nothing to be sold towards foreigners. The privatized status can be acquired after 10 years.
Because the ECs were meant for the use on the local homebuyers who can’t afford the prices of a private property and they are not legible to acquire new HDB flats, the restrictions were quite stringent. If you are an investor, investing money in an EC is not favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums in the same zone. In addition, it is susceptible to a 99 year leasehold. The ECs are not considered as a freehold terrain.
Benefits of EC buyers
The EC buyers can apply for that CPF Housing grants. The CPF Housing grant has many set of eligibility considerations. To know if you are eligible, you can inquire towards Singapore govt. The grant ranges from $10,000 to $30,000 but very much dependent on his or her evaluation of the household revenues.
The high return of investment on the list of EC properties are definitely dependent on their location. The facilities on offer at the ECs are better the kind of amenities supplied by the condominiums located close to the area. The Bishan Loft has been considered among the top performing ECs. Its proximity to the Bishan MRT station is specially appealing to the working type. Besides, it lies close to the Bishan Junction 8 nearby mall and the MacRitchie Reservoir Park.
What shop for? EC or BTO?
The ECs are put together by private graphic designers. The potential buyer of ECs are individuals who can afford higher than a BTO but cannot spend the money for price for Fourth Avenue Residences condo this private house. The BTOs are being sold near a subsidized price so a sensational scene to raise cash to upfront payment. The budget and the restrictions among the EC should be considered more carefully.