What Are Executive Condos? Essay

833 Words Sep 20th, 2016 4 Pages
Singaporeans have many options when it comes to property ownership, and an executive condo in Singapore is a great option for people who don?t have a low enough income to qualify for HDB housing, but aren?t quite able to afford to purchase their own property. Demand for these hybrid condos have risen in 2016 with the additions of some new buildings on the market, so now is a great time to investigate owning an executive condo in Singapore.

Here are some important details that you need to know about executive condos.

What Are Executive Condos?

Executive condos blend public and private housing. They generally have lower prices compared to private homes and condos, but they have better amenities than HDB housing. These properties cater to the sandwich class, or middle class, of citizens who earn too much money to be considered for HDB public flats but who do not qualify for private homes.

An executive condo is Singapore is built and designed by a private developer. To live in one of these tall buildings, the government examines your income, debts and previous property owning history before deciding on whether you qualify to live in one of these high-rise buildings. You must also meet other qualifications before living in an executive condo in Singapore.

What Qualifications Must You Have?

There are several qualifications you must have to own an executive condo in Singapore. You must be 21 and older for a single person, or 35 and older to apply under the joint single…

Related Documents