The Executive Condominiums in Singapore are also called 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 for you to that of the private properties. The ECs are certainly one good way to enjoy luxury living. Their pricing is quite affordable to the mass market.
Market and selling restrictions
The main difference between the Executive Condominium and the individual condominium may be the ownership concern. Owners of the ECs to be able to fulfil the equivalent of 5 years occupation period. This restriction is similar towards the HDB ownership rules. Any EC owner can sell the unit only after 5 many years of occupancy. However, the information mill limited in order to the Singapore Citizens and also the Fourth Avenue Residences singapore Permanent Residents. When the EC will acquire its privatized status, it cost nothing to be sold on the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for the use of the local homebuyers who can’t afford the prices of a personal property and are generally not legible to acquire new HDB flats, the restrictions were quite structured. If you are an investor, investing money in an EC is not favorable. The Executive Condominiums are also priced about 25% less than the private condominiums from the same aspect. In addition, it is prone to a 99 year leasehold. The ECs are not considered as a freehold site.
Benefits of EC buyers
The EC buyers should apply for your CPF Housing grants. The CPF Housing grant very own set of eligibility values. To know if you are eligible, you can inquire for the Singapore united states government. 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 their own location. The facilities you can purchase the ECs are closer to the regarding amenities presented the condominiums located near the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity to your Bishan MRT station is very appealing to the working type. Besides, it lies close to the Bishan Junction 8 local mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are designed by private developers. The potential buyer of ECs are individuals to afford greater BTO but cannot afford the price of one’s private condominium. The BTOs are being sold for the subsidized price so you do not have to raise cash the upfront payment. The budget and the restrictions with the EC should be considered more meticulously.