Executive Condominium Singapore

Executive Condominium Singapore

Executive Houses: What Are the Troubles in Purchasing one?

Executive Condominiums (ECs) are a class of housing created the Government throughout 1994 to meet the sociable aspirations associated with Singaporeans to live in exclusive homes. ECs appear equip with many of the services of their personal counterparts * from swimming pools to guards - but you are relatively cheaper.

So when private housing price ranges dropped significantly in the 1st half of your 2000s, the Government quit churning ECs out there.

Only in the fourth fraction of The year of 2010 were these people built again.

Just what will be the attractions along with sembawang ec drawbacks of buying a great EC?


Commonly regarded as the hybrid form of housing since it is bound simply by certain possession rules regulating HDB flats rolling around in its first Decade. But on the other side of the coin, buyers acquiring ECs from the developer, similar to the purchase of HDB flats, qualify for a kind of CPF housing offer. Visit HDB, "CPF Homes Grant to see relatives EC", for the details of the give quantum that's based on home income and also citizenship status.

In contrast to their HDB cousins, however, ECs can't be financed which has a HDB loan. This means that a percentage (5% of the price) of the down-payment must be financed in cash. But as ECs from programmers are usually priced at 20-30% below non-public condominiums, it is then easier pertaining to buyers in order to save for it.


All ECs are stored on 99-year lease, different type of from non-public condominiums that can come in rent ranging from 99-year for you to freehold.

And only Singapore citizens are eligible to buy brand-new ECs.

Similar to HDB flats, ECs have a Minimal Occupation Amount of 5 years, when there is being no selling of the house, simply no subletting of the total house, and no purchase of an exclusive house.

As soon as the 5-year period features lapsed, a remaining rule dictates that ECs could only be marketed to Singapore residents and Permanent Residents.

ECs who have crossed the actual 10-year mark are generally elevated for you to full-fledged private homes status and can then become sold in order to foreigners. These types of ECs show a reduced price differential along with private housing (Square Foot Investigation, "Executive Condominium").

Therefore, after factoring within the CPF housing scholarships and relatively cheap tag, the capital gains to make from ECs might be substantial if you possibly could hold on beyond the 10-year period.

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