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 to be able to that of the private properties. The ECs are one good way to enjoy luxury living. Their prices are quite affordable to the mass market.
Market and selling restrictions
The main difference involving the Executive Condominium and in which you condominium is the ownership reduction. Owners of the ECs in order to be fulfil incredibly 5 years occupation period. This restriction is similar towards the HDB ownership rules. Any EC owner can sell the unit only after 5 regarding occupancy. However, the publication rack limited in order to the Singapore Citizens and also the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it is free of charge to be sold to the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for the use of the local homebuyers who can’t afford the prices of anyone property and are generally 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% when compared with the private condominiums from the same zone. In addition, it is subject to a 99 year leasehold. The ECs are not considered like a freehold terrain.
Benefits of EC buyers
The EC buyers are permitted to apply for the CPF Housing grants. The CPF Housing grant possesses its own set of eligibility considerations. To know if you are eligible, you can inquire towards Singapore presidency. The grant ranges from $10,000 to $30,000 but very much dependent of the evaluation of the household revenues.
The high return of investment among the EC properties are definitely dependent over their location. The facilities made available by the ECs are better the involving amenities at the condominiums located close to the area. The Bishan Loft has been considered among the top performing ECs. Its proximity to your Bishan MRT station is specially appealing into the working lecture. Besides, it lies close to the Bishan Junction 8 shopping mall and the MacRitchie Reservoir Park.
What shop for? EC or BTO?
The ECs are made by private constructors. The potential buyer of ECs are individuals to afford more than a BTO but cannot afford the price of a private residence. The BTOs are being sold at a subsidized price so you do not have to raise cash a great upfront payments. The budget and the restrictions for Fourth Avenue Residences Bukit timah this EC is highly recommended more with care.