These executive condos are becoming increasingly popular throughout the world. The first executive condominium was constructed in 1994. They are a mix between housing for the public and housing for private people. Come and visit our website search it on Altura EC showflat you can learn more.
You will find that they are mostly enclosed with a security system and gated compound. Another thing to note about executive condominiums, is that there are many amenities available for the residents. This includes things like playgrounds. clubhouses. and swimming pool. The developer of executive condominiums is usually a well-known private company.
Their construction costs are lower because the government encourages construction. Land prices are subsidised by the government. CPF or Central Provident Fund Grants are available to buyers who wish to purchase executive condominiums.
Executive condos have the same regulations as HBD apartments. In relation to ownership, there are certain limitations and restrictions. This condominium must have a minimum of five years’ occupancy. In this initial period, an executive condominium may be for sale but cannot be completely rented. After this first period the residents of permanent residence and nationals can purchase the property. After the first ten-year period, it is possible for foreigners to purchase.
In different areas, there are many executive condominiums. Developers tend to be well-known. They include different blocks with hundreds of houses, apartments and in most cases, are luxury. Most of the time, these establishments cover a lot of land and provide space for all kinds family-related activities.