How much does an executive condo cost in Singapore?

How much does it cost to buy an executive condo in Singapore?

Depending on the floor area, a typical 3-bedder EC can cost from $800,000+ to $1.2 million. For example, for a recent EC launch–Parc Central Residences at Tampines Avenue 10—the 3-bedroom units are priced at around $956,000 to $1,069,000.

How much do you need to buy executive condo?

This means you need to fork out at least 25% in downpayment from your own pocket. Out of this, 5% must be paid in cash, while the remaining 20% can be a combination of CPF and cash. So, if you’re buying an EC for $1 million, for example, you must fork out $50,000 in cash.

Is executive condominium worth buying?

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.

ЭТО ИНТЕРЕСНО:  How can I shop from USA to Malaysia?

How much is new EC in Singapore?

List of All Executive Condominiums (ECs) in Singapore (Completed)

EC name Price Price (psf)
Rivercove $900,000 to $1,330,000 $844 to $1,236
Hundred Palms Residences NA NA
iNz Residence $1,100,000 to $1,768,000 $1,033 to $1,111
Northwave $720,000 to $1,100,000 $957 to $1,051

Is it worth buying EC in Singapore?

ECs can be a better investment choice compared to private condominiums, as they are usually sold for around the same price as private apartments in the resale market even though EC is purchase with grants (subsidized housing). EC is treated as HDB property for 10 years.

Can I own both HDB and EC?

You can own a HDB and still buy an EC or HDB as long as you dispose of the it within 6 months of possession of the new unit though.

What is an executive condo in Singapore?

Executive Condominiums, or ECs for short, are a public-private property hybrid designed for sandwich class Singaporeans who earn too much to BTO yet too little to afford non-landed private properties.

Can Singapore PR Buy executive condominium?

Aside from new BTO flats, single PRs are also not eligible to buy new executive condominiums (ECs). However, like BTO flats, you can buy a new EC if you’re buying with a Singaporean spouse.

Can I buy a resale EC if I own a HDB?

If you already own an existing HDB flat, you cannot buy a new EC and keep that HDB as ECs are under HDB rules. The only option is to sell your existing flat six months before receiving the keys to the EC if you really want the more premium residence.

ЭТО ИНТЕРЕСНО:  Does Singapore have a subway system?

Why is EC so expensive?

Well, it’s all about the increasing land prices. … So increased competition = higher land price, which then leads to lower profit margins and hence higher EC prices.

What is the income ceiling for executive condo?

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.

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 the difference between EC and condo?

The biggest difference between a regular condo and an EC comes in the first 11 years. During this time, ECs count as HDB properties – they are subject to the Minimum Occupancy Period (MOP) of five years. You can’t sell or rent out your EC during this time. … If you purchase an EC, it’s a bit cheaper than a regular condo.

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.

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.

ЭТО ИНТЕРЕСНО:  Best answer: Can you sleep at Manila airport?