Singaporeans increasingly choose to buy Executive Condominiums. This hybrid housing development offers middle-class Singaporeans a luxurious lifestyle at an affordable price. Here, we explore Executive Condominiums’ features and the reasons why many buyers are choosing it as their preferred option. Visit Altura EC site plan before reading this.
A collaboration is required between government agencies and private developers to develop Executive Condominiums. Private developers are given land by the Government at subsidised rates. They then construct and sell these properties. The same standard and specification as private condominiums are met, yet the development costs less.
Affordable Executive Condominiums are a key benefit. Executive condominiums have a price that is typically 20-30% below comparable condos. Middle-class families can enjoy luxury living for an affordable price.
There are however certain restrictions that apply to the purchase and ownership of an Executive Condominium. For the first few years after purchase, typically around five, the unit may not be rented to or sold by non-Singaporean nationals or Permanent Residents. The first five years are reserved for Singaporeans. Permanent residents can buy the property after that.
Executive Condominiums have a similar range of features and amenities to private condominiums. Some of these facilities are swimming pools, gymnasiums, BBQ Pits, Function Rooms and Playgrounds. This luxurious lifestyle is available to residents without the cost of a private condominium.
Singapore has experienced an increasing number of executive condominium developments over the past few years. Piermont Grand Parc Canberra The Ola and other popular projects include. These developments, which are situated in strategic locations, provide access to many amenities including schools, malls and public transport.
Executive Condominiums also offer an excellent investment opportunity. They tend to increase in value with time and are therefore a great option for anyone looking to invest. The fact that they are a great option for Singaporeans seeking a stable investment has attracted many.
Leave a Reply