The Executive Condominiums in Fourth Avenue Residences singapore are also called 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 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 an individual can condominium could be the ownership concern. Owners of the ECs to be able to fulfil incredibly 5 years occupation occasion. This restriction is similar into the HDB ownership rules. Any EC owner can sell the unit only after 5 connected with occupancy. However, the information mill limited only to the Singapore Citizens as well as the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it is free of charge to be sold for the 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 anyone property and they are not legible to acquire new HDB flats, the restrictions were quite severe. If you are an investor, investing your money in an EC is not favorable. The Executive Condominiums are also priced about 25% lower the private condominiums in the same area. In addition, it is governed by a 99 year leasehold. The ECs are not considered as being a freehold yard.
Benefits of EC buyers
The EC buyers are permitted to apply for that CPF Housing grants. The CPF Housing grant has many set of eligibility expectations. To know if you are eligible, you can inquire to the Singapore government. The grant ranges from $10,000 to $30,000 but very much dependent around evaluation of the household gross income.
The high return of investment one of several EC properties are definitely dependent on their location. The facilities you can purchase the ECs are much better the regarding amenities presented the condominiums located near the area. The Bishan Loft has been considered among the top performing ECs. Its proximity to the Bishan MRT station is very appealing into the working lecture. Besides, it lies close to the Bishan Junction 8 nearby mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are manufactured by private constructors. The potential buyer of ECs are individuals who’s going to afford greater BTO but cannot spend the money for price associated with private condominium. The BTOs are being sold for the subsidized price so there is no need to raise cash to upfront payment amount. The budget and the restrictions belonging to the EC should be considered more completely.