The Executive Condominiums in Fourth Avenue Residences 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 similar to that of the private properties. The ECs is one good way to enjoy luxury living. Their costs are quite affordable to the mass market.
Market and selling restrictions
The main difference concerned with the Executive Condominium and the private condominium could be the ownership restriction. Owners of the ECs to help fulfil the equivalent of 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 market is limited only to the Singapore Citizens and also the Singapore Permanent Residents. After the EC will acquire its privatized status, it costs nothing to be sold for the foreigners. The privatized status can be acquired after 10 many years.
Because the ECs were meant for the use on the local homebuyers who can’t afford the prices of a non-public property and they are not legible to acquire new HDB flats, the restrictions were quite stringent. If you are an investor, investing difficult earned money in an EC is not favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums from the same subject. In addition, it is governed by a 99 year leasehold. The ECs are not considered being a freehold home or property.
Benefits of EC buyers
The EC buyers can apply for that CPF Housing grants. The CPF Housing grant very own set of eligibility criteria. To know if you are eligible, you can inquire to 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 on the list of EC properties are definitely dependent over their location. The facilities provided the ECs are better the regarding amenities supplied by the condominiums located near the area. The Bishan Loft has been considered among the top performing ECs. Its proximity towards the Bishan MRT station is very appealing to the working class. Besides, it lies close to the Bishan Junction 8 store and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are put together by private constructors. The potential buyer of ECs are individuals that afford more than a BTO but cannot pay the price of a private condominium. The BTOs are being sold at a subsidized price so there is no need to raise cash for an upfront paying. The budget and the restrictions belonging to the EC should be considered more meticulously.