The Executive Condominiums in Singapore are also called EC. In the past years, Fourth Avenue Residences Bukit timah 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 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 will be the ownership concern. Owners of the ECs to be able to fulfil a minimum of 5 years occupation period. This restriction is similar into the HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the market is limited and the Singapore Citizens along with the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it is provided for free to be sold for the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for that use for the local homebuyers who do not want the prices of a non-public property and tend to be not legible to acquire new HDB flats, the restrictions were quite severe. If you are an investor, investing difficult earned money in an EC is not favorable. The Executive Condominiums are also priced about 25% reduce the private condominiums globe same subject. In addition, it is susceptible to a 99 year leasehold. The ECs are not considered being a freehold terrain.
Benefits of EC buyers
The EC buyers can 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 towards the Singapore powers that be. The grant ranges from $10,000 to $30,000 but very much dependent on the evaluation of the household gross income.
The high return of investment one of several EC properties are definitely dependent on their own location. The facilities on offer at the ECs are better the regarding amenities offered by the condominiums located near the area. The Bishan Loft has been considered as the top performing ECs. Its proximity towards the Bishan MRT station can be quite appealing towards the working lecture. Besides, it lies close to the Bishan Junction 8 nearby mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are manufactured by private developers. The potential buyer of ECs are individuals who can afford higher than a BTO but cannot pay for the price on a private apartment. The BTOs are being sold for the subsidized price so to be able to to raise cash a good upfront payments. The budget and the restrictions among the EC is highly recommended more carefully.