There are a variety of properties in Singapore that you can invest on. Investments on real estate properties in the city almost guarantee profitable returns for investors. Be it residential properties or commercial ones, almost all kinds of properties in the city offer great returns on the investments made. There is also another type of property that has been attracting investors in large numbers over the past few years- Executive Condominiums, also known as ECs.
So, what is it about ECs that make them so attractive for real estate investors?
There are basically four types of residential properties to be found in Singapore. The first type includes the HDB developed flats and apartments for those Singaporean citizens who do not make too much money. The second category comprises of the private residential houses and villas, which can certainly be considered as very expensive to purchase. The third group consists of the private condominiums around the city. These properties come in a variety of sizes and prices, and the prices usually depend on factors such as floor space, location, facilities, etc.
Now, the fourth category of residential properties comprise of the executive condominiums, which are developed and sold by private contractors and developers, but under the supervision of the HDB. Hence, these properties have the same facilities and features as the ones that you would find in any other private condominium complex. The best aspect, however, of EC properties like the Signature at Yishun is that they are available for purchase at much reduced prices than their private counterparts. Hence, as a buyer, you will be able to obtain one such property without having to spend the amount of money that you would have to spend behind the purchase of a private condo unit.
The problem, however, lies in the fact that these EC units are only available for purchase for nationals of Singapore. Foreign nationals are not considered eligible for purchase of these properties. Moreover, only people who have a family income of less than or equal to $14,000 are allowed to apply for such condo units. The reason behind this is that the concept of executive condominiums was developed for those people who were not eligible for HDB homes due to their income, but also did not make enough money to buy private residential properties.
Hence, buying an EC unit in a complex like the Signature at Yishun EC can be a great investment option for people in the beautiful city of Singapore.