The Executive Condominiums in Fourth Avenue Residences singapore are also since 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 comparable 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 among the Executive Condominium and in which you condominium could be the ownership limitation. Owners of the ECs in order to be fulfil incredibly 5 years occupation time. This restriction is similar for the HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the information mill limited and the Singapore Citizens and the Singapore Permanent Residents. When the EC will acquire its privatized status, it cost nothing to be sold towards foreigners. The privatized status can be acquired after 10 some time.
Because the ECs were meant for the use for the local homebuyers who can’t afford the prices of a non-public property and tend to be not legible to acquire new HDB flats, the restrictions were quite stringent. If you are an investor, investing money in an EC is not favorable. The Executive Condominiums are also priced about 25% lower the private condominiums from the same region. In addition, it is subject to a 99 year leasehold. The ECs are not considered being a freehold property.
Benefits of EC buyers
The EC buyers are permitted to apply for the CPF Housing grants. The CPF Housing grant has some set of eligibility values. To know if you are eligible, you can inquire on the Singapore govt. 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 on the list of EC properties are definitely dependent over their location. The facilities offered by the ECs are deeper the kind of amenities supplied by the condominiums located in the area. The Bishan Loft has been considered as the top performing ECs. Its proximity to the Bishan MRT station highly appealing towards working kind. Besides, it lies close to the Bishan Junction 8 local mall and the MacRitchie Reservoir Park.
What shop for? EC or BTO?
The ECs are made by private graphic designers. The potential buyer of ECs are individuals who’s going to afford more than a BTO but cannot spend the money for price for this private condominium. The BTOs are being sold set at a subsidized price so there’s no requirement to raise cash for an upfront paying. The budget and the restrictions of the EC is highly recommended more completely.