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Does executive condo have security?
Structurally and facility-wise, an EC and private condo are basically the same, as they both offer similar facilities such as round-the-clock security, swimming pools, tennis courts, landscaped areas, gyms, clubhouse and others.
Are executive condos worth it?
Executive Condominiums are still the best value buys The reason is simple: they’re a chance to buy private property, while still getting government subsidies. Also, ECs often feature the same range of a facilities offered by private condominiums, but at a fraction of the cost.
Is EC still worth buying?
There are definitely advantages of upgrading to an EC over a private property: Lower entry price. You don’t have to pay Additional Buyer Stamp Duty(ABSD) even if you stay in your HDB flat till your EC apartment obtain Temporary Occupation Period (TOP)
How much do you have to put down on an executive condo?
You only need to pay 20\% downpayment (5\% option fee + 15\% sale and purchase agreement). The remaining 80\% can be paid once the project receives its TOP. The caveat to this is that you need to pay more for the EC.
What is the income ceiling for executive condo?
$16,000
The income ceiling for buying executive condominiums (ECs) from HDB is $16,000, slightly higher than the $14,000 income ceiling for HDB BTO flats. Singles are not allowed to buy ECs on their own.
Which EC is the best?
If you want to save a huge amount of money without sacrificing quality of living, check out these Top 5 EC Worth Buying in 2021.
- Yishun Ave 9 EC.
- Provence Residence EC.
- Parc Canberra EC.
- Parc Central EC.
- Parc Greenwich EC.
Is executive condo considered private property?
Important Note: While Executive Condominiums (EC) are treated as public housing, after the 10th year, they’re considered private properties.
What is included in executive condo?
Executive Condos Are Cheaper Than Private Condos ECs also come with fully equipped kitchens and bathrooms, as well as finishings that are comparable to private condos. On top of that, you can also take advantage of the CPF Housing Grants mentioned earlier, which are handy to help offset the cost.
How much do you need to buy an EC?
How Much Should You Earn to Buy EC? The household income ceiling is $16,000, but if you have no other liabilities, it’s possible to comfortably afford an EC with less.
Can I take HDB loan after selling EC?
Yes you can purchase resale HDB immediately after selling private condo.
What is the difference between EC and condominiums in Singapore?
They’re up to 35\% cheaper than “real” condominiums, but are usually at the more “ulu” parts of Singapore, which can be hard if you don’t own a car. ECs are made for the “sandwich class”, with an income ceiling of $16,000.
What is Executive Executive Condominium (EC)?
Executive Condominium (EC) is one of the most popular types of property in the Singapore market. Introduced in 1997, the EC features developments that are built by the private developer, along with full suite condo facilities (pools, clubhouses, BBQ pits, etc.)
What are the pros and cons of buying a condo?
Many condo communities offer residents amenities that are out of reach for the average homeowner. These amenities can also make it much easier to get to know your neighbors. If you live alone or love to socialize, this can be a great perk. 4. Affordability Condominiums are often priced lower than single-family homes.
When can I Sell my condo EC?
Only after 10-years does the EC become free of such restrictions, and homeowners are free to sell their EC to anyone. For private condominiums, there are no restrictions from day one. Read Also: Bought Your Dream Condominium?