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Executive Condominiums (ECs) have become increasingly popular in recent years due to several factors.
1. Affordable pricing: ECs are generally priced lower than private condominiums, making them more affordable.
2. Eligibility criteria: ECs are designed to cater to the sandwiched class, where households have incomes that exceed the ceiling for HDB flats but fall short of private property affordability. This means that the eligibility criteria for purchasing an EC are more accessible compared to private condominiums.
3. Subsidies and grants: EC buyers are eligible for CPF Housing Grants of up to $30,000, making them more affordable than private condominiums.
4. Attractive features: Many ECs come with a range of amenities, such as swimming pools, gyms, and playgrounds, which add to their appeal. They often also offer a better quality of living than HDB flats.
5. Investment potential: ECs have the potential for capital appreciation. They are also typically located in areas with good infrastructure and transportation links, making them attractive to tenants.
6. Overall, the combination of affordability, eligibility criteria, government subsidies, attractive features, and investment potential has made ECs an increasingly popular choice for homebuyers in Singapore.