Are you planning to invest in a property in Singapore and are also excited about the high-class properties of Singapore? Do you want to know about various property types that exist in Singapore, yet are confused between a BTO and an executive condominium? Well, get all the answers to your questions right here with us. Forget about those days when investing in a Singapore property was a dream. Now this dream can turn true as Singapore property launches are all here to make it easy for you.
BTO or build-to-order flats are entirely different from the executive condominiums in Singapore. There are other eligibility criteria for the buyers to buy a BTO or an executive condo. This article aims to complete information about both the BTO flats and condominiums in Singapore. It will also include the various abscess of differences between the two to ensure proper understanding of the buyers. So get rid of all your stress and invest in a new condo Singapore or BTO flats without any hesitation.
Know About Build To Order (BTO)
Build to Order (BTO) flats are those properties that are located in apartments. They are only supposed to be built if 65-70% of the flats in the flat have been booked. Buying a BTO flat can be cost-effective for a buyer as they are set by HBD and have a subsidized selling price. This is one of the significant benefits of investing in a BTO as it is cost-effective and not much expensive compared to an executive condo. But, along with certain advantages, there is a significant disadvantage associated with BTO flats.
It can take around 4-5 years for you to get your BTO keys in your hand from the day of balloting. Also, you can make your flat a BTO only when you are entirely purchased, fulfilling all the criteria and meeting the eligibility requirements. Therefore, understand the BTO in detail with Singapore condo launches and make your BTO flat with proper considerations. It could be a significant investment for you to buy a BTO. Therefore, you should not compromise with anything and take professional help for better underpaying.
Know about Executive condominiums
Excecv=city condos are considered as the hybrid between public and private housing. Unlike BTO, executive condos are built by private developers and are most expensive and luxurious. You can expect various facilities and luxury amenities in an executive condominium such as a swimming pool, gyms, gardens, etc. But, if you are buying a property with a motive to resell it, then a condominium can be a threat for you.
This is because of the HDV rules meant for wrestling an executive condominium. You can only sell an executive condominium to another person when you have owned it for at least 10 years. Therefore, make sure you consider this point and make the right choice while investing in a new launch condo. Executive condominiums are usually built near less populated areas making them more expensive, peaceful and ensuring privacy.
Difference between BTO and Executive condo
Now that you’re aware of the significant aspects of a BTO and new launch condo. You can easily understand the difference between the two and make the right choice. Before Deciding which property is good for you, you must compare various aspects of BTO and executive condo. These aspects are as follows:
BTO vs EC: Cost
When it comes to the price of a BTO and executive condo, mum, the answer is obvious. Executive condominiums are always more expensive as compared to the cost of a BTO flat. This is because a BTO flat is sold at a subsidized price, whereas executive condos are built by private developers and sold at luxurious prices. Hence, ensure your budget and buy a property that seems to be affordable and budget-friendly to you.
Another central point of difference between BTO and the executive condo is the down payment. To book a BTO flat, the downpayment is required only 10%. Whereas, if you are buying an executive conduit, the down payment would be 25%, and out of this 25%, you have to make 5% of the amount in cash. It is an important point to be considered while buying a property in Singapore.
BTO vs EC: “Investment” returns
If you want a higher future value of your property in Singapore, then executive condos can be the best option for you. Condominiums have the highest resale value in the future and can give you the best investment returns. On the other hand, investment returns from BTO can be less when compared to ECs.
Property taxes and rules are pretty strict in Singapore. As the price of an executive condo is higher and more expensive, the tax to be paid for an EC will be higher than a BTO flat.
So, above were some significant points of difference between a BTO and a new launch condo. Now that you know everything about both BTO and executive condominiums, you can quickly determine the best property for you. For better guidance and assistance, you can connect with us anytime and ensure the best property in Singapore with Singapore condo launches.