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.
Between the 5th year to the 10th year, EC can only be resold to citizen or PR. Not to foreigners without PR.
ReplyDeleteOn 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.