1992 was the year of dream for the Singaporean youth who were finding it impossible to get a decent flat to stay in. and, hence the Executive condominium which are abbreviated as EC were launched. Presently, most of the professionals eye to get the flat or unit in the EC. So that they can have permanent option for a decent and peaceful stay. To stay in EC one has to fulfill certain conditions like age, they should be citizen or they should have earlier owed the HDB in Singapore.
What are Executive condominiums?
When the prices of the private property were suddenly raised the Singapore government came up with the concept of EC. Though, public housing in Singapore is not the indication of lower standard still the class of people and especially the young professional who can afford the houses with bit higher prices than HDB for them the
Structuring of Executive Condominiums:
Executive condominiums in Singapore are widely found and in fact they are in every part of Singapore. Coming to area specific punggol EC’s are known for their vibrant infrastructure. The EC’s includes three bedrooms with separate living room and kitchen. The Terrace Punggol EC are made on the higher standards with lower prices.
What about facilities and services?
The concept of executive condominiums though is by the public housing based but the developers are private entities and hence one can always look upon with the good facilities. From basic to a bit of luxury and a nice location to stay , you will be given all furnished facilities for easy survival and unlike HBD’s , you can easily make sale of EC , but it should be after the 5 years and after the EC is 10 year old you can sale out to foreigner also.