EC like Sumang EC is really an one-of-a-kind kind of real estate in Singapore. It mixes the qualities of HDB and personal residences, mainly for those "sandwich" family members that can not afford personal apartments. In this middle-class family members, the total family revenue goes beyond the ceiling of the acquisition of apartments, but it can not afford personal apartments, and also the EC can fulfill the requirements of these family members. At present, the applicant's regular monthly household income restriction is $14,000. Furthermore, the federal government additionally supplies housing subsidies of as much as $30,000 for first-time home purchasers.
It can be claimed that the EC is a "private apartment" that the federal government "funds", to ensure that the sandwich layer has the dream of owning a personal residence. In general, newbie buyers can pay for ECs with a cost of around $800,000. If they intend to purchase more than one million yuan in EC, they must have a lot of savings or obtain family members support. In 2012, the EC market set off an insane craze, selling more than 4,000 units throughout the year, and there were very EC devices with a price of greater than 2 million.
At that time, these ultra-high-priced ECs caused a great deal of conflict. People began to question whether EC is satisfying the demands of the sandwich layer, or is it taking taxpayers' cash to subsidize the rich? Currently, over a million buck of EC such as Sumang Walk EC will certainly come to be the standard, EC costs are expected to rise to the level that the sandwich course can not manage. This makes individuals ask once again: Is EC in Singapore still meaningful? For both buyers and sellers be certain you always collect data about things. Have a look at https://www.royalsquare.info/project-details/ for things like foreclosed houses, current and historical median selling prices and also how long houses are staying on the market. Also look up things like unemployment rate and crime rates for the region.