A type of housing that is increasingly becoming popular in certain parts of the world is the executive condominiums. In 1994, the first executive condominium was constructed. Somewhere in between the range of private housing and public housing, you would find the EC and they come very close to private condos. It features an enclosed space coupled with a gated compound with security. Another notable feature of executive condominium is that all types of amenities are present for use by residents; Amenities as swimming pools, playgrounds and clubhouses to mention a few. Well known and reputable Private developers in the construction circles are the ones that build and sell these executive condominiums.

This type of construction is encouraged by the government and it’s done at a much-reduced price. This is due to the fact that subsidies are attached to land prices from the government. Buyers have access to the Central Provident Fund grants that helps to assist them in payment for the EC that developers sell.

Regulations that apply to different HBD flats are also applied to the executive condominium. More so, with regards to ownership, a number of restrictions and limits have been put forward. Five years is the benchmark for the minimum occupancy period of such condominiums. The executive condominium is not rented wholly but can be put up for sale; this is during the first period. The property can afterwards be bought by permanent residents and citizens; this is though after the elapse of the first period. Foreigners only gain access to it after a period of ten years.

Executive condominiums exist in different locations. More often, they consist of sections of blocks with a lot of residential apartments and houses and a lot of the times, these apartments are luxurious in style. A sizeable amount of land is usually covered by this establishment and this gives room and allowance for diverse kind of activities that could be family related.

Most times during its construction, they are preplanned to have facilities that aid in making life easier for residents. Such facilities include but not limited to: Tennis court, lush landscaping, lap pool, sky BBQ and a clubhouse.

During the planning process, careful thought is also applied to the location where such projects are cited. They are often times executed close to public transportation facilities including expressways that make allowance for commuters to have a seamless connection with other parts of the area.

Different amenities can be notably found around such establishments and they comprise minimart, shops, eating houses, the list is exhaustive. Education centers, food court, child care and supermarkets are also usually present along with amenities.

The apartments also come in different sizes and shapes but the good thing is that space is not always compromised with the residents in mind. The added benefit is that at an affordable price, you get to enjoy a semblance of the feeling of a private condo.

At this stage, you probably are excited about this. An opportunity to own one presents itself in the form of the Piermont grand EC launch. You can contact the Piermont Grand EC Developer Appointed Sales Team with your questions and enquiries. Enjoy!

Author's Bio: 

Hi, I am Christopher. I am blogger from USA, and writing is my passion. I love to explore creative things and learn new things. I write what i learn and share with people.