First of all, u will need to know that Executive condo was built for the lower class face difficulty in purchasing a private condo as well. The executive condo was introduced in 1996 and is the type of apartments, which are unique in Singapore. EC’s were introduced to cater for the growing number of people mainly for young professionals. Some Singaporeans can’t really afford a private condo because of low income or weren’t able to stretch to a private property. For them, an Executive condominium is a good option. After 5 years of purchasing you can sale your executive condo.
Resale EC in Singapore
We have two ways to sale our Executive condo – EC already obtained the key, and minimum occupation period of 5 years up one temporary occupation permit has already been met.
From 6th to 10th year, the Executive condo can be sold on the open market to Singapore permanent residence.
From 11th year onwards, EC can also be sold to foreigners and corporate bodies.
Property is a long-term investment. Inland scare Singapore, the value should appreciate if your time horizon is at least a decade from now. The potential for EC even is higher due to the initial investment outlay differences from a private condo.
If buying an EC unit is within your financial means, I’m suggesting you go ahead and book a unit if it that meet your needs. Then while you stay in your dream home, you can enjoy on its capital appreciation potential to the future whether or not if you wish to upgrade or cash out in the long term.
Over 65 Executive condos have been introduced. Of these, 25 apartments have already completed their 5 years minimum occupation period and are available for resale in the market. We analyzed their launch prices and subsequent resale prices, 5 and 10 years after their respective completion.
The Rivercove executive condo is the best option for investment.