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 in order to that of the private properties. The ECs is one good way to enjoy luxury living. Their expenditure is quite affordable to the mass market.
Market and selling restrictions
The main difference in between Executive Condominium and the non-public condominium will be the ownership reduction. Owners of the ECs in order to be fulfil at a minimum 5 years occupation period. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the market is limited only to the Singapore Citizens along with the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it is free of charge to be sold on the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for that use with the local homebuyers who cannot afford the prices of a personal property and are also not legible to acquire new HDB flats, the restrictions were quite stringent. If you are an investor, investing money in an EC is not favorable. The Executive Condominiums are also priced about 25% when compared with the private condominiums on the same aspect. In addition, it is under a 99 year leasehold. The ECs are not considered for a freehold property.
Benefits of EC buyers
The EC buyers might apply for that CPF Housing grants. The CPF Housing grant has many set of eligibility expectations. To know if you are eligible, you can inquire towards Singapore united states government. The grant ranges from $10,000 to $30,000 but very much dependent of the evaluation of your household gross income.
The high return of investment one of several EC properties are definitely dependent in their location. The facilities offered by the ECs are much better the associated with amenities you can buy from the condominiums located in the area. The Bishan Loft has been considered among the top performing ECs. Its proximity for Fourth Avenue Residences condo the Bishan MRT station is specially appealing to your working kind. Besides, it lies close to the Bishan Junction 8 shopping mall and the MacRitchie Reservoir Park.
What get? EC or BTO?
The ECs are manufactured by private developers. The potential buyer of ECs are individuals who can afford greater BTO but cannot afford the price for this private apartment. The BTOs are being sold at a subsidized price so to be able to to raise cash a great upfront payment. The budget and the restrictions belonging to the EC is highly recommended more completely.