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 comparable to that of the private properties. The ECs is one good way to enjoy luxury living. Their prices are quite affordable to the mass market.
Market and selling restrictions
The main difference involving the Executive Condominium and the private condominium will be the ownership reduction. Owners of the ECs have to fulfil a smaller amount 5 years occupation period of time. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 numerous occupancy. However, the publication rack limited only to the Singapore Citizens and also the Singapore Permanent Residents. Marriage ceremony EC will acquire its privatized status, it is free to be sold to the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for your use for the local homebuyers who do not want the prices of a personal property and tend to be 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% less than the private condominiums in the same area. In addition, it is prone to a 99 year leasehold. The ECs are not considered as being a freehold yard.
Benefits of EC buyers
The EC buyers are permitted to apply for the CPF Housing grants. The CPF Housing grant has many set of eligibility measures. To know if you are eligible, you can inquire towards Singapore government. The grant ranges from $10,000 to $30,000 but very much dependent on his or her evaluation of one’s household revenues.
The high return of investment among the EC properties are definitely dependent in their location. The facilities provided the ECs are magnified the form of amenities presented the condominiums located in the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity on the Bishan MRT station is specially appealing to your working lecture. Besides, it lies close to the Bishan Junction 8 retail center and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are made by private web developers. The potential buyer of ECs are individuals that afford higher than a BTO but cannot afford the price of a private residence. The BTOs are being sold for the subsidized price so to be able to to raise cash for Fourth Avenue Residences an upfront paying. The budget and the restrictions for this EC should be thought about more with care.