ECs offer many advantages, from lower upfront costs and access to quality facilities, to appreciating in value over time and becoming an excellent investment opportunity.
However, to qualify for an EC, certain criteria must be fulfilled, including being a Singapore citizen as well as fulfilling income and property ownership requirements.
Location
Singapore’s most luxurious condominiums can be found in Marina Bay area of Singapore, providing views of its stunning waterfront and breathtaking skyline. This area has become a magnet for visitors during Formula 1 Singapore Grand Prix events when hotels become full to capacity with guests hoping to catch all of the action right from their rooms.
Marina Bay is at the core of Singapore’s evolving cityscape and a bustling business district and civic space for all to enjoy. Home to iconic Raffles Place and within close walking distance from Marina Bay Financial Centre, dining options abound here from gourmet fine dining to al fresco casual eateries to pop-up restaurants – you won’t be short of options when visiting Marina Bay! As its star attraction it offers everything from gourmet dining experiences to al fresco casual eateries as well as pop-up restaurants.
Space
Marina Bay is one of Singapore’s most scenic and vibrant districts, home to both financial institutions like the Stock Exchange as well as numerous government buildings and offering entertainment, shopping and dining establishments. Marina Bay has become an iconic symbol of Singapore, with everything from entertainment and shopping venues to 24-hour city centres within reach. From its humble origins as a land reclamation project to today’s bustling 24-hour city hub is testament to meticulous planning and implementation efforts.
Marina Bay is home to high-flying executives, successful businessmen, as well as up-and-coming young professionals from around the globe. Marina Bay condominiums are known for being stylish yet tall; boasting stunning skyline views for all residents while boasting vibrant nightlife scene featuring A-list nightclubs.
Amenities
Parkroyal Collection Marina Bay offers homebuyers looking for an unparalleled location and stunning views an ideal solution. Situated within MBFC (Marina Bay Financial Centre), this tower features residences ranging from 1-to-4 bedroom residences as well as luxurious penthouses.
Location in Singapore’s CBD cannot be beat: with unobstructed views over city skylines and bayfront areas including Marina Bay Sands. Furthermore, this property boasts an impressive array of amenities and services such as its massive sky-lit atrium as well as sun deck and pool areas that overlook MBS views.
Postal services can be found nearby at Mailbox @ Marina Bay Link Mall, while banking and monetary transactions can be completed at DBS – MBFC Branch. Parkway Shenton Medical Clinic and Oasis Market can both provide healthcare, while Oasis Market supermarket can be reached on foot.
Maintenance
An executive condominium managed efficiently features robust financial practices that ensure its upkeep is budgeted for, which in turn increases property values and appreciation.
ECs (Electronically Coded Condos) provide a convenient middle ground between HDB flats and private condos. Often sought by Singaporeans whose income surpasses that of an HDB flat yet they cannot afford private condos, these hybrid units may provide the ideal home.
At first, ECs are classified as HDB properties and thus must adhere to rules like the Minimum Occupancy Period and selling restrictions pertaining to foreigners. From their eleventh year onwards however, they become fully privatised and can be sold to a wider range of buyers including foreigners; making ECs more comparable with regular private condos in terms of price appreciation.
Restrictions
Are you searching for an apartment that provides all the luxury amenities without paying high private property prices? An executive condominium (EC) may be just what you’re after. These developments from private developers offer similar facilities at more reasonable costs.
ECs are available to Singaporeans who meet certain eligibility requirements, including income ceilings and CPF housing grants. They’re an attractive choice for downgraders from private condos who wish to bypass the 15-month wait period required for purchasing a resale HDB flat.
Experienced buyer’s agents can provide valuable guidance when assessing pricing, paperwork, and fees associated with buying property. Their fees typically range between 1%-1.2%.