AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
Hi,
Can some body explain the rules involved with an executive condo
Can PR's buy an executive condo?
Is a freehold status granted to every executive condo after 10 years?
There is a 8 year old EC with 99 year lease status on offer - Theoretically, if one buys it now - will it achieve private status in 2 years time?
Thank you
0 •
3368 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

3 Answers

Alvin Choo H.C
Replied
Hi Arun, an EC as executive condo, when reached 10 years old will achieve privitised status. PRs are allowed to buy them from the 5th year onwards. It will remain as a 99 year leasehold condo but a good investment nonetheless. Hope that answers your doubts. Read More
0
Upvote Upvoted
  • AS
    Replied
    Thank you for your response. Is the privatisation process automatic after 10 years. And after privatisation - Are there any restrictions?
Ander Ang
Replied
Hi Arun,

The privatisation is an automatic process. From the 11th year onwards, which an EC will be privatised, all restrictions will be lifted. Foreigners can buy.

Btw, all ECs are 99years leasehold property.

Thanks,
Ander ERA
 96836230  Read More
0
Upvote Upvoted
P N Samy
Replied

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions