There is good reason for purchasing an EC to do so:
This is because starting prices of ECs at launching period are 20 to 25 per cent lower than those of condominiums, resulting in a greater return during sale, clarified Eugene Lim, crucial executive officer of ERA Realty Network.
“Studies show that, when the time comes, you can sell ECs at a price virtually (that of) private condominiums in exactly the same area,” he told My Paper.
Mr Lim, who’ll be speaking at a My Newspaper Advance seminar on Aug 17, may also talk about the Urban Redevelopment Authority’s Master Plan 2014.
One place where more ECs are popping up is Anchorvale in Sengkang, he added.
Mr Lim has been in the real-estate industry for 23 years.
While the ROI for an EC might be appealing, it’s important for would be buyers not to get themselves burdened with too many loans, warned another specialist.
Home owners should comprehend their compulsory cash commitment and loan limit when applying to buy new property, said Kenny Tan, head of channel strategy and business alliance at OCBC Bank.
Mr Tan will discuss several matters during the seminar, including the entire debt servicing ratio – which shows what portion of income is utilized to service loan obligations – and obtaining a loan to fund your The Criterion EC purchase.