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 for you to that of the private properties. The ECs is one good way to enjoy luxury living. Their pricing is quite affordable to the mass market.
Market and selling restrictions
The main difference among the Executive Condominium and the individual condominium may be the ownership reduction. Owners of the ECs to be able to fulfil the equivalent of 5 years occupation occasion. This restriction is similar to the HDB ownership rules. Any EC owner can sell the unit only after 5 many years of occupancy. However, the publication rack limited only to the Singapore Citizens and the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it costs nothing to be sold into the foreigners. The privatized status can be acquired after 10 yrs.
Because the ECs were meant for the use for the local homebuyers who do not want the prices of a private property and are generally not legible to acquire new HDB flats, the restrictions were quite stringent. If you are an investor, investing cash in an EC is not favorable. The Executive Condominiums are also priced about 25% less than the private condominiums on the same area. In addition, it is under a 99 year leasehold. The ECs are not considered for a freehold property.
Benefits of EC buyers
The EC buyers can 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 presidency. The grant ranges from $10,000 to $30,000 but very much dependent within the evaluation of your household revenues.
The high return of investment one of several EC properties are definitely dependent on their location. The facilities on offer at the ECs are better the regarding amenities you can buy from the condominiums located near to the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity towards the Bishan MRT station is very appealing towards the 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 manufactured by private developers. The potential buyer of ECs are individuals who can afford more than a BTO but cannot afford the price for this private property. The BTOs are being sold to the subsidized price so there is no need to raise cash a good upfront paying. The budget and the restrictions belonging to the EC might be of interest more meticulously.