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 for you 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 concerned with the Executive Condominium and the private condominium may be the ownership reduction. Owners of the ECs to help fulfil incredibly 5 years occupation period. This restriction is similar to your HDB ownership rules. Any EC owner can sell the unit only after 5 numerous occupancy. However, the information mill limited only to the Singapore Citizens and also the Singapore Permanent Residents. Following a EC will acquire its privatized status, it is free of charge to be sold for the foreigners. The privatized status can be acquired after 10 yrs.

Because the ECs were meant for the use of the local homebuyers who cannot afford the prices of anyone property and are generally not legible to acquire new HDB flats, the restrictions were quite strict. If you are an investor, Fourth Avenue Residences investing your money in an EC is not favorable. The Executive Condominiums are also priced about 25% reduce the private condominiums globe same region. In addition, it is susceptible to a 99 year leasehold. The ECs are not considered as being a freehold yard.

Benefits of EC buyers

The EC buyers are permitted to apply for the CPF Housing grants. The CPF Housing grant has its own set of eligibility values. To know if you are eligible, you can inquire on the Singapore powers that be. The grant ranges from $10,000 to $30,000 but very much dependent on the evaluation of one’s household revenues.

The high return of investment one of several EC properties are definitely dependent on his or her location. The facilities offered by the ECs are closer to the kind of amenities offered by the condominiums located near to the area. The Bishan Loft has been considered among the top performing ECs. Its proximity to your Bishan MRT station rrs incredibly appealing towards working training session. 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 created by private developers. The potential buyer of ECs are individuals who can afford on the BTO but cannot give the price associated with private property. The BTOs are being sold to the subsidized price so to be able to to raise cash the upfront payments. The budget and the restrictions of the EC should be considered more meticulously.