The Executive Condominiums in Singapore are also called EC. In the past years, Fourth Avenue Residences condo 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 expense is quite affordable to the mass market.
Market and selling restrictions
The main difference in between Executive Condominium and the private condominium may be the ownership reduction. Owners of the ECs to be able to fulfil at a minimum 5 years occupation occasion. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 regarding occupancy. However, the marketplace is limited in order to the Singapore Citizens and also the Singapore Permanent Residents. When the 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 your use of your local homebuyers who can’t afford the prices of a person property and they are not legible to acquire new HDB flats, the restrictions were quite strict. If you are an investor, investing money in an EC is not favorable. The Executive Condominiums are also priced about 25% reduce the private condominiums on the same area. In addition, it is governed by a 99 year leasehold. The ECs are not considered for a freehold home or property.
Benefits of EC buyers
The EC buyers should apply for that CPF Housing grants. The CPF Housing grant possesses its own set of eligibility criteria. To know if you are eligible, you can inquire towards Singapore presidency. The grant ranges from $10,000 to $30,000 but very much dependent within the evaluation of your household gross income.
The high return of investment among the EC properties are definitely dependent on his or her location. The facilities offered by the ECs are better the kind of amenities at 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 rrs incredibly appealing to the working kind. Besides, it lies close to the Bishan Junction 8 store and the MacRitchie Reservoir Park.
What shop for? 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 pay the price for this private residence. The BTOs are being sold to the subsidized price so to be able to to raise cash the upfront payment amount. The budget and the restrictions for this EC should be thought about more properly.