Is EC better than HDB?

Is EC better than HDB?

These lands are also much cheaper which allows ECs to remain cheaper than private condos. Some reasons for choosing an EC over a HDB might be because you have already exceeded the income ceiling of HDB ($14,000 for HDB and $16,000 for EC), or you are looking for higher capital appreciation.

Is it better to buy HDB or condo?

Get More Space for Less Price HDBs offer more value for your money than condos. In terms of price per square foot, HDBs are a better deal. In addition, HDBs are a more affordable option than condos – you can upgrade the size of your home for less money.

What is the difference between condo and executive condo?

The biggest difference between a regular condo and an EC comes in the first 10 years. During this time, ECs count as HDB properties. They’re subjected to the Minimum Occupation Period (MOP) of five years. You can’t sell or rent out the whole EC unit during this time.

Are executive condos worth buying?

If you’re an HDB upgrader who wants to own a non-landed private property at a good price, buying an EC is the best option after it has become fully privatised. This is when prices have more or less stabilised.

Why do people buy EC?

EC will generally get a higher capital appreciation in future because they are sold like private properties although they are bought as subsidized units with grants. And a larger pool of potential buyers to tap on after the privatization of the EC. Executive Condo also can be rented out like any other private condo.

Can I rent out my executive condo?

Can you rent out your EC? You cannot rent out the EC during the minimum occupation period (MOP) of the first five years. You can, however, rent out rooms within the EC during this period.

Should I upgrade from HDB to condo?

Sell HDB flat first then Buy Condo If you’ve already paid off the loan on your HDB flat, it doesn’t matter whether you sell the HDB first or buy a condo first as you will be able to borrow the maximum possible @ 75% (provided your income supports it).

Is it worth it to buy an EC?

Can I own both HDB and EC?

You can purchase either and still keep your HDB. However if you choose to purchase a BRAND NEW EC, then NO, you will have to sell your HDB within 6 months of collection of your keys to your BRAND NEW EC.

Why is EC so expensive?

The EC market is currently driven by an appetite for cheaper, bigger homes by millennials and first-time buyers. REAL estate markets have been booming globally amid the macroeconomic headwinds and market uncertainties.

Is EC considered HDB?

An EC is considered HDB property for 10 years. As such, it is subject to the same restrictions like a minimum occupancy period of five years, and restrictions on who can buy it. From the 11th year onward, an EC is fully privatised.

Is it worth buying condo in Singapore?

Condominiums have a high chance of appreciating in value The local property market has been trending upwards for the past several decades, even showing resilience during the pandemic in the last two years. From 2010 to 2020, private property prices in Singapore rose by a whopping 53.6%.

Can I keep my HDB and buy EC?

Is resale EC worth buying?

Resale ECs are Already Built and Completed New launch condos take years to build, and you can’t inspect the place before paying. Resale ECs are better for those who need a new home quickly, and like to do a physical viewing before committing to the purchase. Keen to purchase an EC in 2021?

Should I sell my EC after 5 years?

Hi, You can sell off your EC after 5 years. But after selling, it does not make sense for you to buy a private condo and a HDB resale flat. If you buy a private condo and then a HDB resale flat, you are required to sell off this condo within 6 months after the completion of your HDB resale flat.

Is EC price negotiable?

There’s more room for negotiation the Resale EC Price compared to the New Launch EC Executive Condo. There’s more room for negotiation the Resale EC Price compared to the Private Condo. You can visit a Resale EC to see the actual condition of the property.