The amenities provided by the ECs are usually similar to that of their personal properties. The ECs are one good way to enjoy luxury living. Their rates are very affordable to the mass market. The principal difference between this executive condominium and the private condominium is the ownership limitation. Owners of the ECs must fulfil at least 5 years job period. This restriction is very similar to the HDB ownership rules. Following are the EC will get its privatized standing; it is free to be sold to the foreigners. The privatized status could be obtained after 10 years.
Since the ECs were intended for using the regional homebuyers who cannot afford the costs of a personal property and are likewise not legible to obtain new HDB flats, the constraints were quite strict. If you are an investor, investing your money in an EC is not favourable. The executive condominiums are priced about 25 percent less than the private condominiums in exactly the exact same area. Additionally, it’s subject to 99 year leasehold. The ECs aren’t regarded as a freehold property. The EC buyers are permitted to apply for the CPF Housing grants. The CPF Housing grant has its own set of eligibility standards. To know if you’re eligible, you can ask to the government. The grant ranges from $10,000 to $30,000 but very much determined by the evaluation of your household gross income.
The high return of investment one of the EC properties is definitely dependent on their place. The Uptown at Farrer provided by the ECs is closer to the sort of amenities provided by the condominiums located close to the region. The Bishan Loft was considered among the best performing ECs. Its proximity to the Bishan MRT station is extremely attractive to the working class. In any case, it lies near the Bishan Junction 8 shopping mall and the MacRitchie Reservoir Park. The ECs are designed by private developers. The prospective purchaser of ECs are people who can afford over a BTO but can’t afford the purchase price of a private condominium. The BTOs are being sold at a subsidized price so there’s absolutely not any need to raise money for an upfront payment. The budget and the constraints of the EC should be considered more closely.