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 one good way to enjoy luxury living. Their expense is quite affordable to the mass market.
Market and selling restrictions
The main difference between the Executive Condominium and the individual condominium is the ownership limitation. Owners of the ECs in order to be fulfil at a minimum 5 years occupation period of time. This restriction is similar into the HDB ownership rules. Any EC owner can sell the unit only after 5 connected with occupancy. However, the marketplace is limited and the Singapore Citizens along with the Singapore Permanent Residents. Subsequent EC will acquire its privatized status, it is free of charge to be sold into the foreigners. The privatized status can be acquired after 10 some time.
Because the ECs were meant for that use of your local homebuyers who can’t afford the prices of a person property and are also not legible to acquire new HDB flats, the restrictions were quite structured. If you are an investor, investing your money in an EC isn’t favorable. The Executive Condominiums are also priced about 25% lower the private condominiums in the same subject. In addition, it is prone to 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 very own set of eligibility values. To know if you are eligible, you can inquire for the Singapore presidency. The grant ranges from $10,000 to $30,000 but very much dependent within the evaluation of one’s 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 magnified the regarding amenities supplied by the condominiums located towards the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity to your Bishan MRT station highly appealing towards the working lecture. Besides, it lies close to the Bishan Junction 8 shopping mall and the MacRitchie Reservoir Park.
What shop for? EC or BTO?
The ECs are designed by private constructors. The potential buyer of ECs are individuals to afford greater BTO but cannot spend the money for price for this private condominium. The BTOs are being sold at a subsidized price so a sensational scene to raise cash the upfront charge. The budget and the restrictions with the EC might be of interest more properly.