Learn What to Know about Executive Condominium Ownership
Most people today prefer executive condominiums. These are often affordable and offer a great way to accommodate many people. You must fulfill several criteria in order to become an owner of an Executive condominium. This will help you to make the entire process easier. You can see Altura EC price on our website.
The application requires different types of documents. The documents you might need include birth and marriage certificates, NRICs as well. HR must check that income statements match what HBD needs.
The benefits of investing in an executive condo
An Executive condominium comes with a variety of benefits. A private condo is a lot like this. This is because the owner can have access to certain facilities, which are generally for the benefit of residents. In order to assist with the purchase of Executive Condominiums, the people who are applying can use the housing grant. The grant can only be awarded to people that are qualified and who may have never requested the grant before.
Renting the Executive Apartment
The MOP is the minimum occupancy period. MOP is short for Minimum Occupation Period. This same period is applicable to other rooms that are part of the Executive Condominium.
A Executive Condominium has different rules for selling. This MOP must be completed within five years. In this time frame, no transactions can occur. Following the specified five year period, owners may sell their unit to any other citizen or resident. A foreigner can purchase the Executive condominium after ten years. There is 30 month wait after sale to be able buy another HBD apartment.
Lots of properties are built within the nation and many are luxurious. Most of these establishments provide a variety of high-end residential properties. Most often, exclusive strata house are offered at some establishments. Sometimes shops and childcare centers are also added for the convenience of different residents.