The Executive Condominiums in Singapore are also since 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 in order to that of the private properties. The ECs are 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 non-public condominium will be the ownership restriction. Owners of the ECs in order to be fulfil a smaller amount 5 years occupation frame of time. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 regarding occupancy. However, the market is limited and the Singapore Citizens and also the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it is free to be sold into the foreigners. The privatized status can be acquired after 10 years.
Because the ECs were meant for the use of your local homebuyers who cannot afford the prices of anyone property and are also not legible to acquire new HDB flats, the restrictions were quite upmost. If you are an investor, investing your money in an EC is not favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums on same aspect. In addition, it is governed by 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 measures. 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 his or her evaluation of the household revenues.
The high return of investment among the EC properties are definitely dependent on his or her location. The facilities on offer at the ECs are closer to the form of amenities you can buy from the condominiums located towards the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity to your Bishan MRT station highly appealing into the working lecture. Besides, it lies close to the Bishan Junction 8 retail center and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are created by private graphic designers. The potential buyer of ECs are individuals who can afford greater BTO but cannot give the price on a private residence. The BTOs are being sold to the subsidized price so there is no need to raise cash a great upfront payment amount. The budget and the restrictions belonging to the EC is highly recommended more with care.