Why Should I Buy an Executive Condo in Macritchie Singapore?

Executive condominiums (EC) provide an effective compromise between private and public housing that targets “sandwich class” Singaporeans who earn too much to purchase new BTO flats but too little for non-landed private properties. Subsidised by the government and supported with CPF housing grants, executive condos provide affordable options.

After five years, Executive Condos become fully privatized and can be sold to both Singaporeans and permanent residents.

1. Location

Are you a Singaporean searching for luxurious living arrangements but find private property prices too steep to afford? An executive condo (EC) may be just what’s needed. Built and sold by private developers but subsidized by government subsidies, an EC provides affordable living spaces while remaining desirable.

ECs provide an ideal balance of cost and lifestyle, offering full condominium facilities like gyms, pools and function rooms as well as discounted clubhouse memberships and childcare services. However, there may be restrictions such as 5-year minimum occupancy period (MOP) requirements and eligibility criteria to consider before purchasing one of these properties.

JadeScape Condominium, situated along Lorong Puntong in Singapore’s Central Region is a 19-storey condominium consisting of 248 units ranging from three to six bedrooms. Within just six minutes walk, residents can be enjoying Windsor Nature Park’s lush greenery while Bishan Junction 8 makes accessing work places easy for commuters.

2. Amenities

Nature enthusiasts will certainly appreciate MacRitchie Reservoir and Central Catchment Nature Reserve, with cross country trails, water sports activities and its 250m suspension bridge spanning Treetop Walk offering stunning bird’s eye views of MacRitchie forest.

Singaporeans seeking a less costly housing solution often opt for Executive Condos (ECs) over private condos and HDB flats. Constructed and sold by private developers but subsidised by the government, ECs come complete with CPF housing grants that may further lower costs.

ECs typically feature higher monthly income caps than private condos and require a larger downpayment, along with fulfilling a Minimum Occupancy Period of five years before they can sell or rent out the property – this requirement could prove particularly important in times of weak property markets or when demand for rental units decreases.

3. Price

Executive condominiums (ECs) are popular among Singaporeans because they provide an affordable compromise between resale HDB flats and private condos. Their prices are also partially subsidised by the government so homebuyers can use their CPF housing grants to purchase them.

But before purchasing an EC, be mindful of its price appreciation potential. Since ECs are often sold at subsidised prices, their values tend to increase over time as soon as they’re fully privatised after 10 years.

At Jade Scape’s Thomson 800 EC, cross country runners and water sports enthusiasts alike enjoy unobstructed views of MacRitchie Reservoir and nature reserve from all directions – making this spot a popular spot.

ECs tend to be more cost-effective rental yield-wise than their private condominium counterparts during economic downturns or tightened labour markets, as their owners can reduce asking rents in order to attract tenants.

4. Resale

ECs provide an affordable middle ground between HDB flats and private condos, often serving “sandwich class” households whose income exceeds the eligibility threshold for HDB BTO flats but are unable to afford private property prices. Unlike resale HDB flats, which may become fully privatised after 5-year MOP periods have ended, ECs become fully privatised and can be sold to either Singaporeans, permanent residents, or even foreigners.

Macritchie Executive Condos (ECs) offer numerous advantages to buyers, particularly investors looking for low-risk investments with higher rental yields compared to HDB flats or other private properties in the area. Before investing in an EC however, it is crucial that all stakeholders involved understand its eligibility conditions, grants available through CPF housing grants, ownership restrictions for the first five years as well as ownership restrictions within this period.