Singapore may be small, but its real estate sector is growing. Especially when we talk about Executive Condominiums. People in Singapore are going crazy after buying execution condos, they are hot sellers among those who can’t afford expensive housing in Singapore. There is still confusion among that needs to be addressed when you are thinking about buying executive condominiums. Like eligibility criteria, down payment, location, grants and other home facilities. Let take a look at some of the interesting and wonderful facts about executive condominiums that help you buy your dream house.
1) Capital Gain: According to the industry veterans every year there is a hike in the executive condominium which makes the investor more attractive.If buyer sells out the condo in future, this will get double profit.
2) Strategic Location: ECs provides you dining pavilion, aqua gym, regular gym, Kids pool, a multipurpose court for players, kid’s playground etc.
3) Eligibility for the Executive Condo: Eligibility is very important. Your annual income must not be above $14000. He or she must be Singaporean Citizen. The minimum age to buy a condo is 21 year. For joints families, the age of owner must be at least 35 years. He or she did not own more than one HDB/DBSS or EC flat previously.
4) Low Downpayment: Assuming the banks are able to loan you up to 80% of the property value, you would need to have 5% cash for the down payment and the remaining down payment by cash or CPF.
5) Grants Available: To Buy Executive Condo, the developer is providing a grant of S$30,000 to each buyer.
6) Minimum Renovation Cost: No headache of renovation as the only low cost is required to paint and lighten your condominium. The cost is up to $5,000 only.
7) A Life of Exhilaration: Each EC will provide you a beautiful fully furnished master bedroom, master bathroom, kitchen, a dining room, luxurious living room etc.
8) Secure: ECs are secure for the families as they can lock their homes without any tension. A tight security is provided in each condominium.
9) Clubhouse: Clubhouses are provided in each condominium. Which attract the most of buyer. There is no need to go outsides for parties and all.
10) Secured Covered Vehicle Garage: Looking for a condominium safety of vehicle comes first in our mind…. EC provide you a full secure garage for your cars, scooter, bike etc.
Thinking of buying an EC or Executive Condominium but don’t know where to start? Visit RiverCove Residences, we will tell you all you need to know before buying.