The Executive Condominiums in Singapore are also called 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 certainly one good way to enjoy luxury living. Their prices are quite affordable to the mass market.
Market and selling restrictions
The main difference among the Executive Condominium and the non-public condominium may be the ownership restriction. Owners of the ECs require fulfil at a minimum 5 years occupation occasion. This restriction is similar into the HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the information mill limited in order to the Singapore Citizens as well as the Singapore Permanent Residents. Following a EC will acquire its privatized status, it is free to be sold into the foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for Fourth Avenue Residences Bukit timah your use on the local homebuyers who cannot afford the prices of a person property and are generally not legible to acquire new HDB flats, the restrictions were quite stringent. If you are an investor, investing cash in an EC is not favorable. The Executive Condominiums are also priced about 25% lower the private condominiums in the same zone. In addition, it is subject to a 99 year leasehold. The ECs are not considered being a freehold terrain.
Benefits of EC buyers
The EC buyers might 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 towards the Singapore powers that be. The grant ranges from $10,000 to $30,000 but very much dependent within the evaluation of one’s household gross income.
The high return of investment among the EC properties are definitely dependent in their location. The facilities provided the ECs are closer to the involving amenities at the condominiums located in the area. The Bishan Loft has been considered among the top performing ECs. Its proximity to your Bishan MRT station is specially appealing into the working training session. 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 created by private constructors. The potential buyer of ECs are individuals that afford on the BTO but cannot give the price for this private apartment. The BTOs are being sold for the subsidized price so you do not have to raise cash a good upfront charge. The budget and the restrictions for this EC might be of interest more meticulously.