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 to be able to that of the private properties. The ECs are one good way to enjoy luxury living. Their costs are quite affordable to the mass market.
Market and selling restrictions
The main difference involving the Executive Condominium and the private condominium is the ownership constraint. Owners of the ECs have to fulfil a minimum of 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 publication rack limited and the Singapore Citizens and the Singapore Permanent Residents. Following a EC will acquire its privatized status, it is provided for Fourth Avenue Residences free to be sold into the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for your use of the local homebuyers who cannot afford the prices of a personal property and they are not legible to acquire new HDB flats, the restrictions were quite severe. If you are an investor, investing your money in an EC is not favorable. The Executive Condominiums are also priced about 25% reduce the private condominiums in the same zone. In addition, it is under a 99 year leasehold. The ECs are not considered for a freehold yard.
Benefits of EC buyers
The EC buyers might apply for your CPF Housing grants. The CPF Housing grant has some set of eligibility expectations. To know if you are eligible, you can inquire on the Singapore presidency. The grant ranges from $10,000 to $30,000 but very much dependent on the evaluation of one’s household gross income.
The high return of investment among the EC properties are definitely dependent on his or her location. The facilities on offer at the ECs are deeper the involving amenities supplied by the condominiums located near the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity for the Bishan MRT station rrs incredibly appealing to your working type. Besides, it lies close to the Bishan Junction 8 shopping mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are manufactured by private graphic designers. The potential buyer of ECs are individuals who’s going to afford higher than a BTO but cannot afford the price associated with private house. The BTOs are being sold for the subsidized price so a sensational scene to raise cash a great upfront paying. The budget and the restrictions with the EC should be considered more carefully.