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 are one good way to enjoy luxury living. Their expense is quite affordable to the mass market.
Market and selling restrictions
The main difference among the Executive Condominium and an individual can condominium will be the ownership reduction. Owners of the ECs in order to be fulfil the equivalent of 5 years occupation time. This restriction is similar towards the HDB ownership rules. Any EC owner can sell the unit only after 5 connected with occupancy. However, the information mill limited only to the Singapore Citizens and the Singapore Permanent Residents. Following a EC will acquire its privatized status, it cost nothing to be sold towards foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for that use with the local homebuyers who do not want the prices of a private property and are also 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% less than the private condominiums on same subject. In addition, it is susceptible to a 99 year leasehold. The ECs are not considered as a freehold property.
Benefits of EC buyers
The EC buyers might apply for the CPF Housing grants. The CPF Housing grant has many set of eligibility criteria. 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 the evaluation of your household revenues.
The high return of investment one of several EC properties are definitely dependent on their location. The facilities on offer at the ECs are much better the involving amenities you can buy from the condominiums located close to the area. The Bishan Loft has been considered as the top performing ECs. Its proximity on the Bishan MRT station can be quite appealing towards the working kind. Besides, it lies close to the Bishan Junction 8 local mall and Fourth Avenue Residences condo the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are made by private graphic designers. The potential buyer of ECs are individuals who can afford greater BTO but cannot pay for the price on a private house. The BTOs are being sold set at a subsidized price so you do not have to raise cash to upfront payment. The budget and the restrictions belonging to the EC is highly recommended more completely.