Why is an Executive Condominium a good investment?
At a lower entry price (15-20% cheaper than the private condo), almost all 1st hand owner of the fully privatised Executive Condominiums are sitting on a comfortable capital gain. Historical transaction data has shown that the resale value of Executive Condominium is close to that of a Private Condominium. The price gap for Executive Condominiums and a comparable Private Condominium is reduced to 9% after 5 years and 5% after 10 years. So, with an initial low entry price, coupled with a good resale value, the return on investment for an Executive Condominiums is highly rewarding. This unfair advantage of lower entry price makes Executive Condominium a good investment.
What is Resale Levy? Do I have to pay Resale Levy to purchase an Executive Condominium?
Resale Levy is a fee you have to pay back to the government for the subsidies you have enjoyed from the purchase of your (1) new flat from HDB, (2) DBSS or EC from a development or (3) resale flat with CPF grant when you are buying your next home. If you have enjoyed the subsidies and purchase an Executive Condo where the land sales were launched on or after 9 December 2013, the resale levy would be payable. The first project where the resale levy is applicable is Westwood Residences and the above “List of Executive Condo with Unsold Units” indicates if the resale levy is applicable for each development.
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Disclaimer: The above information serves as a guide only and should not be used solely to make your purchasing decision. We have taken every effort to ensure that the information collected, analysed and organised are presented as accurately as possible. If you have any feedback on the data provided, please write to us at [email protected] Your comments will be appreciated.