The New Way Of Housing, Executive Condominiums

Some parts of the planet are gaining popularity for executive condominiums. In 1994, the first was built. It is a housing that falls somewhere in the middle of private housing and government housing. The executive condominiums are generally enclosed and include security, a gated area and an enclosed compound. Visit our website and learn more about Altura EC site plan.

Aside from the amenities, the residences of executive condominiums can also enjoy a wide variety. The amenities include swimming pools and clubhouses as well as playgrounds. Many private developers, who are well-known in the construction industry, also sell and build executive condominiums.

As a result, the construction of these buildings is supported by government subsidies. Because the government subsidises land prices. CPF (Central Provident Fund) grants are offered to the purchasers in order to aid them with the cost of executive condominiums.

The HBD apartment regulations also apply to executive condominiums. There have been several restrictions and limits put forth in relation to ownership. Minimum period of occupation for these condominiums should be at least five-years. It is only possible to sell the executive condo during this time. After the first phase, only permanent residents or citizens can own the property. After 10 years foreigners may be allowed access.

These executive condominiums can be found in many different places, and developers in the area are often well known. Usually they consist of different blocks that contain hundreds of homes and residential units. The buildings are often spread across large plots of land, providing space for family related activities.

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