Some people ask a question without really understanding the question. How will they be able to understand the answer?
For example, someone asked me - are owners of executive condos treated as lessees?
It is not clear what is meant by "treated as lessees".
The correct question is - are these owners subject to the same restrictions as owners of HDB flats?
The answer is - No. The key difference is that after a minimum occupation period of 5 years, the executive condominium can be sold in the open market. A HDB flat can only be sold to a buyer who qualifies under the HDB conditions.
For example, someone asked me - are owners of executive condos treated as lessees?
It is not clear what is meant by "treated as lessees".
The correct question is - are these owners subject to the same restrictions as owners of HDB flats?
The answer is - No. The key difference is that after a minimum occupation period of 5 years, the executive condominium can be sold in the open market. A HDB flat can only be sold to a buyer who qualifies under the HDB conditions.
1 comment:
Between the 5th year to the 10th year, EC can only be resold to citizen or PR. Not to foreigners without PR.
On the 10th year, the EC will become a normal condo, and non-PR foreigners can buy.
I suspect there's also specific rules against enbloc for EC within the first 10 years.
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