purchasing an executive condominium (EC)?
There’s great reason to do so: The return on investment (ROI) from the selling of an EC after the five-year minimum occupation period is higher than that of a private condominium in the area.
“Studies have demonstrated that, when the time comes, you can sell ECs at a cost nearly (that of) private condos in the same place,” he told My Paper.
Mr Lim, who will be speaking at a My Newspaper Advance seminar on Aug 17, will even discuss the Urban Redevelopment Authority’s Master Plan 2014.
One place where more ECs are popping up is Anchorvale in Sengkang, he added.
Mr Lim has really been in the real estate industry for 23 years.
While the ROI for an EC may be appealing, it is important for would-be buyers not to get themselves burdened with too many loans, warned another specialist.
Home owners should understand their mandatory cash obligation and loan limit when using to purchase new property, said Kenny Tan, head of channel strategy and business alliance at OCBC Bank.
Mr Tan will discuss several matters during the seminar, including the entire debt servicing ratio – which shows what portion of income is utilized to service loan obligations – and getting a loan to finance your The Criterion EC purchase.