Is it worth to buy executive condo?
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.
Why should I buy an EC?
Condo living at affordable pricing
Taking a longer-term view, some buyers may feel that purchasing an EC gives them a greater peace of mind because they have the opportunity to put the development up for en bloc sale or apply to top up the 99-year lease, when they need to address the issue of lease decay in the future.
Can I keep my HDB and buy EC?
You can purchase either and still keep your HDB. However if you choose to purchase a BRAND NEW EC, then NO, you will have to sell your HDB within 6 months of collection of your keys to your BRAND NEW EC.
Is EC still a good buy?
ECs are still good value buys and a good option for the sandwich class and HDB upgraders. … And EC still provides an affordable option for HDB upgraders who want a higher standard of lifestyle. As EC is for own occupation, achieving a good resale capital appreciation after privatization is good for investment.
Can a single buy EC?
Unfortunately, a single citizen can’t buy a new EC unit alone. However, he or she can opt to purchase a resale EC or even a private condo if it’s within the budget. … As a single, you may purchase a resale EC or private condo.
How much does a 3 bedroom EC cost?
And a 3-Bedroom Premium (1,001 – 1,098 SQFT) Executive Condo in the same estate, The Criterion EC, is selling between $740,800 and $836,000. By comparison, the price of an Executive Condo is easily 2 to 3 times that of a BTO.
Is EC considered HDB?
An EC is considered HDB property for 10 years. As such, it is subject to the same restrictions like a minimum occupancy period of five years, and restrictions on who can buy it. From the 11th year onward, an EC is fully privatised.
How much is the downpayment for resale EC?
For the Resale EC purchase, the 25% downpayment, the minimum cash outlay is 5%. The remaining 20% can be paid by cash or from EC buyers’ CPF Ordinary Account (OA).
How much is an EC?
Additional Costs: Beyond the purchase price, you need to pay legal fees of about $2,000 and valuation fees of about $200 for a new EC. There is also the Buyer Stamp Duty, which is 3% of the purchase price or 4% if purchase price is above $1 million.
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.
Can I buy EC before mop?
Can You Apply for BTO or EC Before MOP? No, you cannot. Even though it may take another few years for the BTO/EC to be built, you can only begin applying after the 5-year MOP.