Executives Condominium is well-known for being off-the-beaten-path. There is a range of causes why executive condo new launch singapore is assigned land parcels that are farther distant than normal condos. So you can guarantee that it will continue for years. But that doesn’t render them a terrible purchase. Let us look below at some of the main reasons why executive condos are located far.
- HDB created the Executive Condos, particularly younger students and executives, who could spend more than just a HDB unit but cannot finance personal land. The property costs element of Executive condos cannot be too large for them to be a little expensive than condominiums. This is officially recognized and the HDB, which puts Executive condos sites up for bid. As a result, property parcels allocated for Executive condos are typically situated in low-cost locations, far off the metropolis and, in some cases, far from commercial areas.
- Normal private condominiums are also being built in these places. While they may appear to be identical at first sight, for example, both offer condominium amenities, the furnishings seen in a personal condo are considerably better. An Executive Condo in a comparable area costs around ten to twenty percent is less than a condo upon launching. There’s just no possibility to offer Executive Condos at such a low price in more desirable regions with greater land costs.
- This may seem snobbish, but HDB residents in particular areas are more likely to require walking some distance to access everyday services as well as easy provision of public transportation, like as Metro station, to commute to the office. They are far less probably to be able to pay for a car or to hire a taxi each time they wanted to go somewhere. In addition, unlike condos, HDB complexes lack the resources to arrange private transportation services to the closest Metro station. The monthly maintenance costs paid by HDB residents are five to eight times lower than those paid by Executive Condos or condo ownership. So, in the interests of such region people, HDB should retain property near current facilities for Flats and place Executive condos further distant from key facilities.
- Although EC’s aren’t in a very densely populated location right now, they’re still quite inexpensive residences, specifically when considering the advantages of privatizing and future growth. As a result, an Executive Condos may not provide you with the same instant comfort as, for example, an earlier resale unit in an established neighborhood.
Hope this information clarifies why EC’s are built in far places.