Asked by Mr. Azad Akbar Mohammed Moosa
Can a PR buy an EC thay is 15yrs old and rent it out.
378 views
5 Answers
Good Morning Mr Azad Akbar,
Thank you for your query!
Please find my response to both your posted questions -
1) An EC privatises after 10 years; i.e.; it attains the status of a private condominium, hence, after 15 years, you will be deemed to have purchased a private condominium. Thus, there are NO restrictions, and you will be able to rent it out anytime.
2) As for costs to redo the house and renovation, perhaps I can could pass you the contacts of my network of trusted contractors who could assist you on the quotations.
Please contact me at 96659925 so that I can understand your requirements and finances in order to construct a financial plan and timeline to shortlist properties you could consider ; both in the own stay and investment perspective. It's about picking the right yield project , which potential turnover. Furthermore, I would love to share more on the transaction caveats of similar sized units in the market at different districts for comparison purposes, chart out a sales report for you as well as go over the financial calculations / legal +admin matter overview. Please take note that the purchase does not make you liable for any fees, and you will be represented by a specialist at no costs.
Visit my website for my recent accolades, awards and testimonials@ www.kumarrai.com.
D Kumar
+65 96659926
ERA Associate Division Director
#1 team of ERA in Singapore, Asia Pacific International for 2014/5/6/7
ERA Q1 Top Achievers (Top1%)
ERA Top Achievers 2013-2017
ERA Multi-Million Dollar Club Award
2014-2017 ERA Asia-Pacific Business Conference Elite Award
P Group
Overall Top 100 achievers 2014-2017 Read More
Thank you for your query!
Please find my response to both your posted questions -
1) An EC privatises after 10 years; i.e.; it attains the status of a private condominium, hence, after 15 years, you will be deemed to have purchased a private condominium. Thus, there are NO restrictions, and you will be able to rent it out anytime.
2) As for costs to redo the house and renovation, perhaps I can could pass you the contacts of my network of trusted contractors who could assist you on the quotations.
Please contact me at 96659925 so that I can understand your requirements and finances in order to construct a financial plan and timeline to shortlist properties you could consider ; both in the own stay and investment perspective. It's about picking the right yield project , which potential turnover. Furthermore, I would love to share more on the transaction caveats of similar sized units in the market at different districts for comparison purposes, chart out a sales report for you as well as go over the financial calculations / legal +admin matter overview. Please take note that the purchase does not make you liable for any fees, and you will be represented by a specialist at no costs.
Visit my website for my recent accolades, awards and testimonials@ www.kumarrai.com.
D Kumar
+65 96659926
ERA Associate Division Director
#1 team of ERA in Singapore, Asia Pacific International for 2014/5/6/7
ERA Q1 Top Achievers (Top1%)
ERA Top Achievers 2013-2017
ERA Multi-Million Dollar Club Award
2014-2017 ERA Asia-Pacific Business Conference Elite Award
P Group
Overall Top 100 achievers 2014-2017 Read More
Hi Mr. Azad,
Following are the factors that need your attention over your query.
(1) As a PR, if you owned a HDB flat, you are not allowed to hold onto flat upon purchasing of private property or another HDB.
(2) Alternatively, you are allowed to own a private property for stay and buy another for investment. There are no restrictions over this.
(3) As a PR, you may purchase any EC which has fulfilled MOP (5 yrs). EC is considered as private property in the eye of authority for PR & SC. Thus no requirement of fulfilling any schemes listed by new EC.
(4) EC more than 10 yrs, shall fully considered as private property because it is open to all, including foreigner.
Hope the above answer to your main concerns, but if there are more queries, do not hesitate and feel free to contact me at 90110636 , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
Note:
Any response to our answer do not reach us until we scroll through each and every queries posted daily.
The best way to get a follow up is to whatsapp or email us directly. Read More
Following are the factors that need your attention over your query.
(1) As a PR, if you owned a HDB flat, you are not allowed to hold onto flat upon purchasing of private property or another HDB.
(2) Alternatively, you are allowed to own a private property for stay and buy another for investment. There are no restrictions over this.
(3) As a PR, you may purchase any EC which has fulfilled MOP (5 yrs). EC is considered as private property in the eye of authority for PR & SC. Thus no requirement of fulfilling any schemes listed by new EC.
(4) EC more than 10 yrs, shall fully considered as private property because it is open to all, including foreigner.
Hope the above answer to your main concerns, but if there are more queries, do not hesitate and feel free to contact me at 90110636 , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
Note:
Any response to our answer do not reach us until we scroll through each and every queries posted daily.
The best way to get a follow up is to whatsapp or email us directly. Read More
Hi,
Yes.
To assist and advise you more in details, kindly drop me an email for me to share.
I am contactable at my mobile or email.
CK Ang
9046 3808
res.ckang@gmail.com Read More
Yes.
To assist and advise you more in details, kindly drop me an email for me to share.
I am contactable at my mobile or email.
CK Ang
9046 3808
res.ckang@gmail.com Read More
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*Welcome Owners / Landlord To Engage Us To Rent Out 1 year or 2 years / Sales of your houses etc
Hi landlord / owners , do you have a workers dormitory property ?
*Do you want to rent out in 1 weeks time ? Urgent sales ?
*Welcome Buyers / Tenants To Buy / Rent From Us
Do you have a workers house for rent ?
Or Room Rentals
New agents ( agt ) welcomed Read More