Living in an executive condominium is uniquely practiced in Singapore in a form of housing loan. This type of housing is introduced in order to help people have their own private property especially for those who could afford it. Though it is more expensive compared to the usual housing plan in the area, the many advantages it offers and the comfortable living one could experience is the primary reason why a lot of Singaporeans are interested in it. Since it is made by a private developer, expect that it would look like those private condominiums and almost all facilities are also the same. One of the popular ECs today which will be ready in 2017 is Lake Life
To be able to live in such a wonderful condominium one has to meet some criteria. You must first be a Singapore citizen. With regards to the household income, it should not be more than S$10,000 per month. Since most of the people interested in this housing are couples, if both are Singaporean, they are eligible for a housing grant amounting to $30,000. In applying for this housing, there are some documents that need to be presented like birth certificates, marriage certificates, NRICs and most recent income statements.
It would certainly be comfortable and satisfying to live in an EC for it is similar to private condominiums. It comes with a lot of great facilities which are not accessible to common home owners. Living in this condominium could make couples feel more accomplished since it is like a dream home for them. This is certainly a good start for couples who just got married and have lots of plan professionally and for their family as well. You don’t have to worry about basic needs for these are foreseen by the developers and definitely most of the things you need are easily accessible within the area or anywhere near it.
If you have plans of living in an EC, research more about Lake Life. There are a lot of people who are already applying for this housing and it seems to be one of the most promising ECs in the Singapore today.