EXECUTIVE CONDOMINIUM (EC) were introduced in 1996 catering buyers who found private homes too expensive. While they were priced affordably compared to private condominium, the units came with limitations.
For instance, EC came with Minimum Occupation Period (MOP) of five years before they can be sold on the open market. Between the 6th & 10th year, only Singaporeans (SC) and Singapore Permanent Residents (SPR) can purchase them, while Foreigners can only do so after the 11th year. Findings show that EC is a practical alternative to private condominium. They also augur well for the EC market and buyers will feel even more confident that EC are reasonable investments to commit to. Upon after 5 years of MOP, prices of EC rose in tandem with private Condominium and even surpassed new EC.
🔴WHY DO EXECUTIVE CONDOMINIUM APPEAL TO BUYERS?
♦️A status of achievement
♦️Necessities within arms’ reach
♦️Greater upside for capital appreciation
♦️Luxurious amenities to enjoy within the development
♦️EC are cheaper than other Mass Market Condominium
♦️Foreigners are not allowed to buy EC directly from developers
♦️Income ceiling set at $14,000 and MSR of 30% set by the government. As such, EC developers are mindful of the affordability of the buyers who are eligible to purchase an EC.
🔷 UNSURE ABOUT YOUR ELIGIBILITY?
🔷 UNSURE ABOUT PAYMENT & HOUSING LOAN APPROVAL?
🔷UNSURE WHETHER YOU ARE GETTING THE RIGHT CHOICE?
💕💕💝 UPCOMING NEW EC LAUNCHING SOON 💕💕💝
🎯 Yio Chu Kang/Hougang, Chua Chu Kang & Sengkang 🎯
A FAMILY CHOICE EXECUTIVE CONDOMINIUM