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 pricing is quite affordable to the mass market.
Market and selling restrictions
The main difference concerned with the Executive Condominium and an individual can condominium is the ownership concern. Owners of the ECs require fulfil the equivalent of 5 years occupation frame of time. This restriction is similar to your HDB ownership rules. Any EC owner can sell the unit only after 5 years of occupancy. However, the market is limited and the Singapore Citizens and the Singapore Permanent Residents. When the EC will acquire its privatized status, it cost nothing to be sold to the foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for that use of the local homebuyers who can’t afford the prices of a personal property and are generally not legible to acquire new HDB flats, the restrictions were quite strict. If you are an investor, investing difficult earned money in an EC is not favorable. The Executive Condominiums are also priced about 25% when compared with the private condominiums on the same subject. In addition, it is subject to a 99 year leasehold. The ECs are not considered for a freehold terrain.
Benefits of EC buyers
The EC buyers should apply for the CPF Housing grants. The CPF Housing grant has many set of eligibility considerations. To know if you are eligible, you can inquire towards Singapore govt. The grant ranges from $10,000 to $30,000 but very much dependent within the evaluation of one’s household revenues.
The high return of investment one of several EC properties are definitely dependent on their location. The facilities provided the ECs are better the kind of amenities offered by the condominiums located in the area. The Bishan Loft has been considered as among the top performing ECs. Its proximity to your Bishan MRT station is specially appealing towards the working lecture. Besides, it lies close to the Bishan Junction 8 store and the MacRitchie Reservoir Park.
What get? EC or BTO?
The ECs are manufactured by private constructors. The potential buyer of ECs are individuals who can afford higher than a BTO but cannot spend the money for price for this private condominium. The BTOs are being sold to the subsidized price so to be able to to raise cash for an upfront payments. The budget and the restrictions belonging to the EC is highly recommended more completely.