Before buying an Executive Condominium (EC), you need to find out what you can expect. This type of condo is a good choice for those who are on a budget, but there are some strings attached. To make sure you’re getting the best deal possible, consider reading this article.
ECs are a hybrid between private and public housing
Executive condominiums (ECs) are a type of property that is a hybrid between private and public housing in the country. They are initially considered public housing, but transition to private property after a certain number of years. Typically, an EC has a 99-year lease. ECs were first introduced by the government in 1999, replacing HDB flats. They offer the same facilities and amenities as private condos.
Most ECs have 99-year leaseholds, which means that prices are more affordable for end-consumers. Additionally, the Singapore government subsidizes the land price, allowing end-consumers to …