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Singapore has been known throughout history for its excellent infrastructure, immaculate cleanliness, modern urban life, and world class living. Due to rising prices, Singaporeans have found it harder and more expensive to own their private homes. With the launch of Executive Condominiums in Singapore, many Singaporeans will be able to afford a luxurious lifestyle without breaking their bank. Visit our website and learn more about Altura EC showflat.

Executive Condominiums are a type of housing that was introduced by the government in 1995. These properties were designed for the middle class who did not earn enough money to qualify as public tenants but didn't make enough money to own private homes. This hybrid property is developed and sold privately by developers. However, the government subsidises it. Although they are built to the same standards and have the quality of private condominiums, there may be some restrictions at the beginning.

An EC's affordability is perhaps its greatest advantage. ECs typically cost between 20% and 30% less than condos in similar conditions. First-time EC purchasers can receive a federal housing grant worth up to $30,000.

ECs also come with a variety of luxury amenities. Most ECs include facilities for their residents, including gyms with swimming pools, BBQ pits, play areas, BBQ pits, even function rooms. Many of these facilities can be compared to private condos.

There are however some limitations when purchasing and owning ECs. During the 5 year initial period, an EC cannot be rented to or sold by anyone that isn’t a Singaporean Citizen or Permanent Residency. After the initial ownership period of 5 years, units can only be sold by Singaporeans. These restrictions have been put in place for Singaporeans to be able to afford ECs and for them not to become a speculative means of investment.

Since the beginning of this decade, private developers have started many new projects. The Terrace Treasure Crest Northwave. These ECs have prime locations that offer residents access to many amenities, including schools, shopping centers, and public transport.