«

»

Oct 15

The Outlook For Executive Condominiums In Singapore

The Executive Condominiums in Singapore are also known as 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 similar to that of the private properties. The ECs are one good way to enjoy luxury living. Their expense is quite affordable to the mass market.

Market and selling restrictions

The main difference concerned with the Executive Condominium and an individual can condominium could be the ownership limitation. Owners of the ECs require fulfil incredibly 5 years occupation time. This restriction is similar towards the HDB ownership rules. Any EC owner can sell the unit only after 5 numerous occupancy. However, the market is limited in order to the Singapore Citizens and the Singapore Permanent Residents. When the EC will acquire its privatized status, it is free of charge to be sold towards foreigners. The privatized status can be acquired after 10 months.

Because the ECs were meant for that use with the local homebuyers who do not want the prices of a private property and are also not legible to acquire new HDB flats, the restrictions were quite stringent. If you are an investor, investing difficult earned money in an EC isn’t favorable. The Executive Condominiums are also priced about 25% when compared with the private condominiums in the same zone. In addition, it is subject to a 99 year leasehold. The ECs are not considered for a freehold home or property.

Benefits of EC buyers

The EC buyers can apply for that CPF Housing grants. The CPF Housing grant has some set of eligibility criteria. To know if you are eligible, you can inquire to the Singapore govt. The grant ranges from $10,000 to $30,000 but very much dependent on his or her evaluation of one’s household gross income.

The high return of investment on the list of EC properties are definitely dependent in their location. The facilities made available by the ECs are closer to the regarding amenities supplied by the condominiums located close to the area. The Bishan Loft has been considered among the top performing ECs. Its proximity on the Bishan MRT station highly appealing into the working type. Besides, it lies close to the Bishan Junction 8 local mall and the MacRitchie Reservoir Park.

What get? EC or BTO?

The ECs are manufactured by private developers. The potential buyer of ECs are individuals who’s going to afford eco-friendly tea’s health benefits BTO but cannot afford the price on a private apartment. The BTOs are being sold to the subsidized price so there is no need to raise cash to upfront charge. The budget and the restrictions with the EC might be of interest more with care.