For first time home buyers, it’s very difficult task to decide that where to buy property, but when you are a citizen of Singapore you have various option to consider. One such option is purchasing an executive condominium. This blog provides you with all the information regarding eligibility criteria for purchasing an executive condominium in Singapore. For first time home buyers, it’s very difficult task to decide that where to buy property, but when you are a citizen of Singapore you have various option to consider. One such option is purchasing an executive condominium. This blog provides you with all the information regarding eligibility criteria for purchasing an executive condominium in Singapore.
The popularity of executive Condominiums is increasing rapidly day by day. They have become popular among sandwich class citizen. One such executive condominium project is Rivercove Residences recently launched by Hoi Hup and Sunway Developments. Let’s explore more.
1. Basic Requirement
The total household monthly income should not more than $16,000. Some of the required HBD eligibility schemes are given below:
- Public Scheme
- Fiancé/Fiancée Scheme
- Orphans Scheme
- Joint Singles Scheme
The couples who are going to buy Executive Condominium must have one person’s permanent residence proof. The home buyer age must be 24 or above at the time for applying to the executive condominium.The one main applicant and 2 or 3 co-applicant can apply for EC.The person who buys a house in EC can’t resell their house before 5years.
2. Special Offers are Given By Executive Condominium
- Lesser down payment
- Affordable prices for every individual
- Executive condominium provides EMI at very low-interest rates
- Providing many benefits for home loan and person can easily apply for the house loan and can get easily buy their house.
3. Facilities Provided
- The infrastructures are well furnished and can have a moderate kitchen.
- There is a big swimming pool.
- In Executive Condominium, there are many parks, different parks for children’s to play.
- There is a big Conference hall.
- There are many different food points also.
- Executive Condominium provides Grocery stores and different shopping complexes.
- They also provide Gold’s gym for ladies and gents.
- They have a basement, ground floor parking’s to park the vehicles.
- They have different parking for two wheelers and four wheelers.
- They provide security guards and can easily go outside without any fear our houses are secure.
4. Resale Executive Condominium
The person can resale their house after the completion of 5yrs and when the 6th year starts then only they can sell their house. If a person gets the house on loan then the person must have to clear the loan and can fulfill their conditions only then the person resold can his or her house. The person who resale their house can get any profits. It is also beneficial for the person who buys the house as day by day Executive Condominium houses sales are increasing rapidly.
Rivercove Residences have been designed bearing in mind each and every need of a modern family. It comes with a concierge service, which upgrades it to a premium property instantly.