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 to be able to that of the private properties. The ECs are one good way to enjoy luxury living. Their pricing is quite affordable to the mass market.
Market and selling restrictions
The main difference concerned with the Executive Condominium and the individual condominium is the ownership limitation. Owners of the ECs have to fulfil incredibly 5 years occupation period. This restriction is similar for the HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the marketplace is limited and the Singapore Citizens and also the Singapore Permanent Residents. After the EC will acquire its privatized status, it is provided for free to be sold on the foreigners. The privatized status can be acquired after 10 some time.
Because the ECs were meant for your use with the local homebuyers who can’t afford the prices of a non-public property and are generally not legible to acquire new HDB flats, the restrictions were quite stringent. If you are an investor, investing funds in an EC is not favorable. The Executive Condominiums are also priced about 25% lower the private condominiums globe same area. In addition, Fourth Avenue Residences condo it is under a 99 year leasehold. The ECs are not considered as being a freehold yard.
Benefits of EC buyers
The EC buyers are allowed to apply for that CPF Housing grants. The CPF Housing grant has some set of eligibility criteria. To know if you are eligible, you can inquire on the Singapore govt. The grant ranges from $10,000 to $30,000 but very much dependent around evaluation of the household gross income.
The high return of investment on the list of EC properties are definitely dependent on their location. The facilities made available by the ECs are deeper the kind of amenities presented the condominiums located in the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity to your Bishan MRT station is very appealing towards working training session. 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 individuals afford greater BTO but cannot give the price associated with private residence. The BTOs are being sold near a subsidized price so you do not have to raise cash to upfront payment. The budget and the restrictions with the EC should be considered more completely.