The Executive Condominiums in Singapore are also called EC. In the past years, these HDB flats and Fourth Avenue Residences Bukit timah 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 pricing is quite affordable to the mass market.
Market and selling restrictions
The main difference involving the Executive Condominium and the private condominium is the ownership limitation. Owners of the ECs require fulfil a minimum of 5 years occupation period of time. This restriction is similar to your 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. When the EC will acquire its privatized status, it is free to be sold towards foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for your use of the local homebuyers who cannot 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 funds in an EC is not favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums from the same subject. In addition, it is prone to a 99 year leasehold. The ECs are not considered as being a freehold site.
Benefits of EC buyers
The EC buyers might apply for your CPF Housing grants. The CPF Housing grant has some set of eligibility considerations. To know if you are eligible, you can inquire on the Singapore govt. The grant ranges from $10,000 to $30,000 but very much dependent around evaluation of your household revenues.
The high return of investment one of several EC properties are definitely dependent on their location. The facilities offered by the ECs are better the associated with amenities offered by the condominiums located close to the area. The Bishan Loft has been considered as the top performing ECs. Its proximity towards the Bishan MRT station rrs incredibly appealing towards 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 created by private developers. The potential buyer of ECs are individuals that afford higher than a BTO but cannot afford the price associated with private condominium. The BTOs are being sold near a subsidized price so there’s no requirement to raise cash a good upfront paying. The budget and the restrictions with the EC should be considered more properly.