The Executive Condominiums in Fourth Avenue Residences 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 similar to that of the private properties. The ECs are certainly one good way to enjoy luxury living. Their costs are quite affordable to the mass market.
Market and selling restrictions
The main difference involving the Executive Condominium and the private condominium is the ownership limitation. Owners of the ECs require fulfil at a minimum 5 years occupation time. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 connected with occupancy. However, the sector is limited only to the Singapore Citizens as well as 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 years.
Because the ECs were meant for your use for the local homebuyers who can’t afford the prices of a non-public property and are generally not legible to acquire new HDB flats, the restrictions were quite strict. If you are an investor, investing money in an EC is not favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums globe same subject. In addition, it is governed by a 99 year leasehold. The ECs are not considered like a freehold home or property.
Benefits of EC buyers
The EC buyers can apply for that CPF Housing grants. The CPF Housing grant has its own set of eligibility values. To know if you are eligible, you can inquire for the Singapore government. The grant ranges from $10,000 to $30,000 but very much dependent of the evaluation of one’s household revenues.
The high return of investment one of several EC properties are definitely dependent on their own location. The facilities you can purchase the ECs are magnified the form of amenities at the condominiums located in the area. The Bishan Loft has been considered as the top performing ECs. Its proximity to your Bishan MRT station rrs incredibly appealing towards the working class. Besides, it lies close to the Bishan Junction 8 retail center and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are designed by private constructors. The potential buyer of ECs are individuals to afford more than a BTO but cannot pay the price of one’s private apartment. The BTOs are being sold set at a subsidized price so you do not have to raise cash to upfront charge. The budget and the restrictions of the EC should be thought about more carefully.