Hi, I am Chay Yu Fay – the Chayrealtor. I am a Property Professional.
I am marketing many New Projects for Private Condominium and Executive Condominium which are marketed by ERA Realty Network Pte Ltd. Unlike other websites which do not publish the agent information, I have an open policy and do not market projects that are not marketed by my agency. Call Chayrealtor at [telnumberlink] 9338 1648 [/telnumberlink] or go to Chayrealtor Website .
The Executive Condominium Housing Scheme (ECHS) is the Government’s housing scheme to cater to the aspirations of Singaporeans to live in private properties.
Executive Condominiums (ECs) are developed and sold by private developers. They are comparable in design and facilities to private condominiums but are sold at more competitive prices.
Similar to private condominiums, ECs are sold with strata titles. This allows buyers to collectively own common property like car parks and recreational facilities. When a management corporation is formed by them, it will manage and maintain the estate in a manner that best meets the flat owners’ interests and requirements.
ECs are different from private condominiums in that only applicants who meet the basic eligibility conditions are entitled to buy an EC unit. Buyers are required to maintain their eligibility and physically occupy the EC unit for the first 5 years. After 5 5 years, you can sell the unit as a private condominium but only to Singaporean. You can only sell to foreigners only after 10 years. For most of the EC launched so far, buyers, who sold their EC after the MOP period had made money. This makes it very profitable and smart to buy a EC.
Purchases are subjected to MSR and TDSR. ADSB does not apply because purchasers must not own private properties and/or have to sell their HDB 6 months after TOP of the EC.
These are private development by Developers for the public for their own housing and investment needs. Purchases are subjected to ABSD and TDSR for their loan.