A hybrid between public and private housing called ECs are becoming immensely popular in Singapore. ECs was introduced to young graduates and professionals of Singaporeans in 1997, who find too difficult to buy private property.
ECs is built and designed by private developers Similar to private condominiums and come with condo facilities such as swimming pools and BBQ pits. Instead of buying a private condo and renting out it seems an inferior investment to buying an executive condo and leaving it empty for the first 5 years.
Property consultancy firm Orange Tee’s study proves that EC would prove to be a better investment in the long term. The reason why ECs demand is so high is the significant price gap between this housing form and suburban private condos. Along with a lower purchase price, there are so many similar characteristics between ECs and private condos. EC enjoys a higher margin of safety and a bigger potential for capital appreciation.
With strata title similar to private ECs. ECS allows buyers to own common property like a car and other recreation facilities such as swimming pool, clubhouse, tennis court, gym room, etc.
Owners are able to maintain and manage the estate independently according to their requirements and interests as a Management Corporation is formed by the owners.
The Executive Condominium (EC) market looks set to stir when new EC projects are launched. Rivercove Residences EC is a brand new EC in Anchorvale neighborhood of Sengkang, Singapore with the fully loaded facility. It’s a well-planned Condo built by Hoi Hop developers who are famous for building g high-quality properties. There is an abundance of spaces and variety of the art lifestyle facilities to suit residents of all ages living a life playfully fun.