01/10/2021
https://www.google.com.sg/amp/s/www.edgeprop.sg/amp/property-news/parc-greenwich-taps-low-ec-supply-seletar-neighbourhood
ECs will be privatised 10 years after completion, which means they can trade in the secondary market like other 99-year leasehold private condos and is open to foreign buyers. Buyers are also subjected to the mortgage servicing ratio (MSR), which is pegged at 30% of the monthly household income, which is more stringent than the total debt servicing ratio (TDSR) of 60% for private property. โStill, ECs are a compelling product because in 10 yearsโ time, they will be privatised and buyers have the opportunity to own a private condo while getting in at a lower price,โ says Huttonsโ Lee. โLike Good Class Bungalows, they are also restricted to Singapore citizens only.โ
Frasers Property and CSC Land Group will open its Parc Greenwich executive condo for e-application from Thursday, August 26 to Sept 6