Executive Condominiums: What Do Singles Need to Know?
Discover essential information regarding Executive Condominiums for singles, including rules, benefits, and key factors for smart investing.
Category Executive Condo
An Executive Condominium (EC) in Singapore is a type of housing option that is subsidized by the government and targeted towards the “sandwiched class” of Singaporeans who are not eligible for public housing but cannot afford private property. ECs offer similar facilities and amenities as private condos but are more affordable due to the government subsidy. ECs also come with eligibility conditions that must be met, such as income ceilings and ownership restrictions. After a certain period of time (usually 5 years), the EC can be sold to Singaporeans or Permanent Residents (PRs) at a market rate, and after 10 years, it can be sold to foreigners.
Eligibility to Buy Condo in Singapore: Requirements and Guidelines
In Singapore, buying a condo is a dream for many people. However, before making a purchase, it is important to understand the eligibility criteria. The eligibility criteria for buying a condo in Singapore are set by the government and vary…