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 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 certainly one good way to enjoy luxury living. Their prices are quite affordable to the mass market.

Market and selling restrictions

The main difference among the Executive Condominium and the individual condominium will be the ownership constraint. Owners of the ECs have to fulfil a minimum of 5 years occupation period of time. This restriction is similar for the HDB ownership rules. Any EC owner can sell the unit only after 5 many years of occupancy. However, the sector is limited and the Singapore Citizens as well as the Singapore Permanent Residents. After the EC will acquire its privatized status, it is free to be sold on the foreigners. The privatized status can be acquired after 10 years.

Because the ECs were meant for your use with 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, investing funds in an EC isn’t favorable. The Executive Condominiums are also priced about 25% reduce the private condominiums globe same subject. In addition, it is under a 99 year leasehold. The ECs are not considered being a freehold site.

Benefits of EC buyers

The EC buyers can apply for Fourth Avenue Residences Bukit timah your CPF Housing grants. The CPF Housing grant has many 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 one’s household gross income.

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 much better the form of amenities at the condominiums located near to the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity to your Bishan MRT station is very appealing towards the working class. Besides, it lies close to the Bishan Junction 8 retail center and the MacRitchie Reservoir Park.

What shop for? EC or BTO?

The ECs are made by private developers. The potential buyer of ECs are individuals that afford greater BTO but cannot give the price for this private property. 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 for this EC might be of interest more carefully.