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 in order to that of the private properties. The ECs are certainly one good way to enjoy luxury living. Their pricing is quite affordable to the mass market.
Market and selling restrictions
The main difference in between Executive Condominium and the individual condominium may be the ownership restriction. Owners of the ECs have to fulfil at a minimum 5 years occupation period. This restriction is similar towards the HDB ownership rules. Any EC owner can sell the unit only after 5 many years of occupancy. However, the market is limited in order to the Singapore Citizens along with the Singapore Permanent Residents. Marriage ceremony EC will acquire its privatized status, it costs nothing to be sold towards foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for your use on the local homebuyers who cannot afford the prices of a person property and are generally not legible to acquire new HDB flats, the restrictions were quite structured. If you are an investor, investing money in an EC isn’t favorable. The Executive Condominiums are also priced about 25% reduce the private condominiums in the same subject. In addition, it is subject to a 99 year leasehold. The ECs are not considered as a freehold property.
Benefits of EC buyers
The EC buyers are allowed to apply for that CPF Housing grants. The CPF Housing grant has some set of eligibility expectations. To know if you are eligible, you can inquire on the Singapore powers that be. The grant ranges from $10,000 to $30,000 but very much dependent of the evaluation of your household revenues.
The high return of investment among the EC properties are definitely dependent on their location. The facilities made available by the ECs are better the kind of amenities at the condominiums located close to the area. The Bishan Loft has been considered as the top performing ECs. Its proximity to the Bishan MRT station highly appealing towards the working class. Besides, it lies close to the Bishan Junction 8 nearby mall and the MacRitchie Reservoir Park.
What get? EC or BTO?
The ECs are put together by private graphic designers. The potential buyer of ECs are individuals that afford higher than a BTO but cannot pay for the price of a private residence. The BTOs are being sold set at a subsidized price so you do not have to raise cash the upfront payment. The budget and the restrictions with the EC should be considered more carefully.