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11-05-2016, 11:09 PM
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Super Member
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Join Date: Feb 2015
Posts: 623
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Singapore Executive Condominiums
Executive Condominium, or EC, is a type of housing in Singapore. You can see examples of EC by clicking on Sol Acres, which is located in Choa Chu Kang or, the Treasure Crest EC, which is located in District 19 Singapore. It started in year 1994, and it is a kind of private condominiums with facilities like security, amenities like swimming pools, clubhouses, playgrounds and others. These EC will also be built and will be launched and sold by private property developers, but at a lower price compared to the other private properties in the market as the land prices will be subsidized by the Singapore Government.
The household income to purchase an EC now must not exceed $14,000, which was raised from $12,000 in August 2015. Some ECs such as The Terrace EC do not require the purchasers to pay a resale levy.
A MOP period (minimum occupation period) of 5 years is one of the condition for purchasing an EC. During these 5 years, the owner is not allowed to sell or rent out their apartment. Foreigners can only purchase an EC when the development is 10 years old.
The Parc Life EC and the Visionaire EC have been launched recently. Both ECs are located in the northern part of Singapore. Another upcoming EC launch will be at District 25, named the NorthWave EC.
Other hot launches, you may wish to visit Singapore Property
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Sats
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