Hi, I'm currently looking to buy a home for me and my wife. I'm wondering whats the pros and cons of getting an EC vs a private condo? Also, is it a good time to buy or should i wait somemore. I'm primarily looking at Simei / Tampines / Pasir Ris area. My budget would be somewhere between 600-650k. I welcome all suggestions and ideas. Thank you
Posted by Spencer Ler on Sep 29, 2008 in Home Buying | 1291 Views
Latest Answers by Real Estate Professionals (3 Answers)
Answer Posted on Dec 27, 2008
Hi Jeff,
I have a rare FREEHOLD unit (Not 99yrs) in the east at Estella Garden @ Flora Road, about 10yrs, 1292 sqft (120sqm) @ only $690k yet negotiable. Owner migrating.
- beautifully renovated
- 3+1 rooms Resort style
- pool view
- Quiet surrounding
Call me @ 98168896 to discuss about your needs and viewing. Thks.
I have a rare FREEHOLD unit (Not 99yrs) in the east at Estella Garden @ Flora Road, about 10yrs, 1292 sqft (120sqm) @ only $690k yet negotiable. Owner migrating.
- beautifully renovated
- 3+1 rooms Resort style
- pool view
- Quiet surrounding
Call me @ 98168896 to discuss about your needs and viewing. Thks.
Answer Posted on Sep 30, 2008
Hi Spencer,
Like to share with you my opinion on Exec Condos. Exec Condos grow in appeal with age.
They are looking more appealing in terms of investment value. While ECs are generally 10 to 15 per cent cheaper than full provate counterparts, their value are expected to rise when they turn 10 years old. This is the point at which restrictions will be completely lifted, so they can be bought by anyone, including foreigners.
The rental yields are attractive too. The rents they fetch are comparable to those for private condos.
To purchase resale ECs in the East, you can have the following options:
1) Eastvale @ Pasir Ris Dr 3
2) Pinevale @ Tampinese St. 73
3) Simei Green @ Simei St 4
4) The Eden @ Tampines st 34.
Not a problem for you to get a 2-bedroom unit below $650k on above-mentioned ECs. However, to get a "good" 3-bedroom unit, you might need to strech slightly above $650k.
Alternative, you can consider to purchase 3-bedrooms ECs in the North which price varies between $535k to $610k.
Do contact me if you require further clarrification or you need my further service.
Regards
Terence
Hp 90256676
property.candh@yahoo.com.sg
Like to share with you my opinion on Exec Condos. Exec Condos grow in appeal with age.
They are looking more appealing in terms of investment value. While ECs are generally 10 to 15 per cent cheaper than full provate counterparts, their value are expected to rise when they turn 10 years old. This is the point at which restrictions will be completely lifted, so they can be bought by anyone, including foreigners.
The rental yields are attractive too. The rents they fetch are comparable to those for private condos.
To purchase resale ECs in the East, you can have the following options:
1) Eastvale @ Pasir Ris Dr 3
2) Pinevale @ Tampinese St. 73
3) Simei Green @ Simei St 4
4) The Eden @ Tampines st 34.
Not a problem for you to get a 2-bedroom unit below $650k on above-mentioned ECs. However, to get a "good" 3-bedroom unit, you might need to strech slightly above $650k.
Alternative, you can consider to purchase 3-bedrooms ECs in the North which price varies between $535k to $610k.
Do contact me if you require further clarrification or you need my further service.
Regards
Terence
Hp 90256676
property.candh@yahoo.com.sg
Answer Posted on Sep 29, 2008
Well, EC is s good as Private. Only issue is that there are stricter terms and conditions when comes to selling. You need to wait for at least 5 years before you can sell to foreigner, (kind of you need to follow to HDB rules and regulations) Unlike, Private, you can sell anytime, no string attached. Good time to buy or not, very much depend on your needs. I have got brandnew apartment at Telok Kurau area. TOP sometime Oct 2010. You can call me if you are interestd. Asking price range for 3rm of area 1001sqft is about $748/psf.My number 97964776 Margaret
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