Which EC is a good buy?
Top 5 Best Executive Condos (ECs) Worth Buying in 2021
- Yishun Ave 9 EC. From the Singapore-listed property developer Sing Holdings Limited, this EC in in Yishun Ave 9 offers an unblocked view of the water and the nature park.
- Provence Residence EC.
- Parc Canberra EC.
- Parc Central EC.
- Parc Greenwich EC.
When did the brownstone EC top?
Inspired By The Rustic Charm of New York Brownstone Houses In The Contemporary Context. The Brownstone EC is a 99-years leasehold Executive Condo with expected date of TOP on 28 Jan 2019. It is developed by renowned developer City Developments Limited (CDL). The land size is around 307,447 sqft.
Is resale EC worth buying?
If you factor in the additional five years of rental income, a resale EC can generate a much higher return on investment, compared to buying a new one. The ability to re-sell at anytime is also an advantage; but remember that selling within the first three years will incur the Sellers Stamp Duty (SSD).
What is mop EC?
Every Executive Condominium (EC) owner knows that the Minimum Occupancy Period (MOP) matters. The MOP restricts sales and rental activities. Within the 5-year MOP, EC owners are not allowed to rent out their entire property, though renting out rooms are permissible.
Why is EC so expensive?
So increased competition = higher land price, which then leads to lower profit margins and hence higher EC prices.
Can you make money from EC?
Regarding the first case, if you’ve bought the EC with the intention of upgrading to, for example, a condo or a larger HDB flat in a prime location, we’d highly recommend you to sell your EC after 10 years, as that’s when you’ll get the highest profit margin in hard cash as compared to other years.
Where are brownstones in NYC?
Brownstones are also scattered throughout Manhattan from the Lower East Side to Washington Heights, with notable concentrations in the Upper West Side, Upper East Side, Harlem and East Harlem. In Queens and The Bronx, the historic districts of Long Island City and Mott Haven also host many brownstones.
How much should I earn to afford EC?
between $14,000 and $16,000 per month
Considering the income ceiling of regular HDB flats and ECs, the target market for ECs are households who earn between $14,000 and $16,000 per month.
Is EC considered private property after 5 years?
Yes, EC is considered private property upon meeting 5 yrs minimum occupancy period. It is allowed to sell to SC & SPR, no other restriction as those in HDB, such as need to form family nucleus or age limit, of course still has to be at legit age of 21 yrs old.
How do you check EC MOP?
You will need to meet the Minimum Occupation Period (MOP) of 5 years before you can sell your EC. The MOP is calculated from the Temporary Occupation Permit (TOP) date for your EC. To find out if you have met the MOP, you may wish to check the TOP date for your EC or contact HDB.
Can I sell my EC before MOP?
You will have to write in directly to HDB to request for approval to sell your EC unit on the open market before meeting the 5-year MOP period. The approval will be given on a case-to-case basis, depending on the reasons of disposal.
Is EC cheaper than condo?
Price of an an EC unit could be up to 25% – 30% lower than that of a private condominium. After taking into account the housing grants available, it makes sense for first timers to go for an EC before making their way to private housing. Costs aside, it’s tough to choose between a private condo or an EC.
How much money does EC make?
EC profit margin higher than mass-market condos Quantum-wise, the average profit of $388,047 was comparable to private mass-market homes which averaged $372,201. However, because EC purchase price was discounted, the profit margin for ECs averaged 65% compared to 46% witnessed for private mass-market homes.
Should I sell my EC after 5 years?
Hi, You can sell off your EC after 5 years. But after selling, it does not make sense for you to buy a private condo and a HDB resale flat. If you buy a private condo and then a HDB resale flat, you are required to sell off this condo within 6 months after the completion of your HDB resale flat.
Does EC lose money?
If you are thinking of liquidating your existing private property and settle down in a place for retirement – a resale EC apartment is something you can consider. You are not going to lose much money there but you are unlikely to earn much profit from it either.
Can I buy a HDB If I own an EC?
Yes, you will be able to purchase a HDB resale flat once you fulfill the MOP for your EC. However, do take note that you will be required to sell off your EC latest 6 months upon the purchase of your HDB flat.
How much loan can I get from bank for EC?
For Executive Condominium, the banks are able to loan you up to 75% of the property value, you would need to have 5% cash for the booking fee, the remaining 20%, buyer stamp duty and legal fee by cash or CPF.
What happen to EC after 10 years?
An EC after 10 years is still classified as Executive Condominium. Just that the restrictions are lifted and it can be transacted like a normal condominium.
https://www.youtube.com/watch?v=0hfrjBJ7GWw