Article

Executive Condominiums Are On the Rise after a Long Time

Written by Maryann Wilson

Topic: Real EstatePublished September 29, 2015

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Executive condominiums had become somewhat of a trend in Singapore in the late 20th century. These housing structures were first introduced in the city as a measure of the government to curb the growing demand for homes among the people living in it. These executive condominiums, or ECs as they are commonly known as, served as a cheap alternative to the very expensive private homes occupied by most of the people back then. The ECs developed by the development board of the government helped to offer homes to a large number of people in the city, and curbed the demand to a great extent.

These forms of housings were, however, soon discontinued, and the focus of the Housing and Development Board of Singapore, or the HDB, shifted towards the constriction of flats and apartment-styled homes. Recently, however, the much popular ECs have risen again to gain prominence among the HDB, and a number of such projects have now been announced by them. These projects will be developed across a number of different locations around Singapore. Hence, during the turn of the coming decade, a large number of people in the city will be able to purchase homes for their families at very inexpensive and easily affordable prices. ECs are popular among the common masses here due to a number of reasons.

Executive condominiums in the city, like those of the Signature at Yishun, are available for purchase at much lower prices than the many private condominiums here. Even though the cost of these properties are a little more than those of the flats and apartments offered by the HDB of Singapore, but the HDB flats and apartments are the only residential properties in the city that are cheaper.

The facilities and amenities offered by the ECs in Singapore are very much similar to those offered by the many private condominium complexes in the city. Facilities like swimming pools, gymnasiums, parking spaces, playgrounds or children’s parks, power back-ups, 24X7 running water, etc. are common features of the many upcoming ECs being developed here.

Due to the fact the executive condominiums are not available for purchase for the many foreign nationals living in the city, competition for these properties in very less. Hence, citizens do not have to go out of their way in order to afford or purchase a property in one of the many executive condominium complexes. This is also one of the most important reasons behind the low price tags of these executive condominiums properties like the Signature at Yishun EC.

A number of regulations are also applicable for occupants of these ECs, and hence, not every citizen of the city is eligible to obtain these properties. Hence, very few people are able to buy such properties. This is also an important factor that contributes to the low price tag of the executive condominiums in the city.

Buying an executive condominium in Singapore can make a great home. Hence, they prove to be great investments for people looking for homes in the city.

Article author

About the Author

Maryann Wilson has worked with executive condominiums in Singapore like the Signature at Yishun over the past ten years, and now helps people in the city to purchase homes from complexes like the Signature at Yishun EC.

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