Sales volumes of an Executive condominium in Singapore have surged in recent months. Buy why? What is the Executive condominium that Singaporeans are diving into buying? Or we can say why Singaporeans love buying Executive Condominium. Sales volumes of an Executive condominium in Singapore have surged in recent months. Buy why? What is the Executive condominium that Singaporeans are diving into buying? Or we can say why Singaporeans love buying the Executive Condominium.In this article, we will take a look at this some important facts around Singapore real estate market and about an Executive condo, which people are investing in a huge.
Why Executive condominium?
For many Singaporeans, Executive Condominiums (ECs) offer the best of both worlds: a living space similar to that of a private condominium, complete with lifestyle amenities like swimming pools and gymnasiums, as well as access to some of the subsidies offered by the government. This has become an ideal choice for the “sandwich classes in Singapore because buying ECs are cheaper than private condominiums.
Who can buy Executive Condominium in Singapore
One should be at least 21 years old or at least 35 years old if applying under the joint singles scheme. All singles must be Singapore citizens if applying under the joint singles scheme. You must be Singaporean or at least 1 other applicant must be a Singapore citizen or Singapore permanent resident. In order to qualify for an EC, household income limit should not exceed $14000. The income limit was raised from $12000 in August 2015.
There are four types of Scheme
- Public Scheme
- Fiancé Scheme
- Orphans Scheme
- Joint singles Scheme
One can easily buy EC if you do not own other property is it locally or overseas, and have not disposed of any within the last 30 months.
You have not bought a new HDB/ DBSS flat or EC, or received a CPF Housing Grant before; or, have only bought 1 of these properties/ received 1 CPF Housing Grant thus far.
Looking to buy an EC property in Singapore?
Rivercove residences EC by Hoi Hup & Sunway Developments is perfect for those Singaporeans who looking to buy EC property. It is a magnificent executive condominium, located along Anchorvale Lane Singapore, District 19. Rivercove Residences will be the next hot executive condo that will be sought after by property buyer who likes to purchase EC in SengKang.