The Executive Condominiums in 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 purchasers. The conveniences provided by the high park condo are usually comparable to that of the private properties. The ECs is one right way to enjoy luxury living. Their prices are quite reasonably priced to the mass market.
Grocery store and trading restrictions
The primary conflict between the Executive Condominium and the high park residence is the ownership restriction. Proprietors of the ECs have to meet a minimum of 5 years occupation period. Any owner of Executive Condominium can trade the unit only after 5 years of tenancy. Nevertheless, the marketplace is limited simply to the Singapore Citizens and the Singapore Permanent Residents. After the EC will acquire its privatized status, it is free to be sold to the foreigners. Privatized status can be taken over 10 years. The ECs was meant for the purpose of the local homebuyers who cannot give the costs of a private property and are also not legible to acquire new HDB flats, the limitations were quite enough. If you are a depositor, investing your money in an EC is not favourable. In summation, it is subject to a 99 year leasehold. The ECs are not considered as a freehold property.
Benefits of EC buyers
The EC buyers are permitted to apply for the CPF Housing grants. The CPF Housing grant has its own band of eligibility standards. To know if you are eligible, you can investigate online about the high park condo. The high return on investment among the EC properties is definitely hooked on their position. The facilities provided by the ECs are closer to the kind of amenities offered by the condominiums located near the expanse. The Bishan Loft has been regarded as one of the top performing ECs. The proximity to the Bishan MRT station is really appealing to the working class.s. Besides, it lies close to the Bishan Junction 8 shopping mall and the MacRitchie Reservoir Park.