You have probably known the rise in Singapore’s property prices coinciding with the acceleration of the economy. You have also probably heard that as a result of changes in various housing rules, acquiring property within Singapore has become easier for those purchasing domestically and Jade scape from foreign gets.
Condos are especially a hit of foreign buyers. Singapore authorities used to have a rule in which another buyer could only purchase an apartment in a building higher than six stories and the apartment had to be considered a condominium. This rule no longer applies, but has not interfered with condo sales within buildings.
Yet to purchase a high-rise apartment as a result of what’s called Executive Condominium projects (EC), you must consist Singapore citizen or resident and the purchase must take place anywhere between the sixth and tenth year from the date the Temporary Occupation Permit was granted. Any foreigners or corporate bodies who are not permanent residents of Singapore are not eligible purchase an EC. But the majority of that if you can easily foreigner or part of some corporate body, you can purchase an EC if is in its eleventh year from the date the Temporary Occupation Permit was issued.
So if you’re permanent citizen or a corporate body who wishes to purchase an EC, the appropriate action is to locate the developer during this particular area obtain the information it is advisable to make your pay. If you are a foreigner or corporate body wanting to purchase an EC, you should also check with the developer in the area you are considering so that you will notice that what ECs is going to be their eleventh year and beyond.
But if you will want good condo, discover go the EC route or purchase look into apartments or condos that have apartments that are classified as condos. It kind of depends on your citizenship, if happen to be part of a company body that has relocated in Singapore, or what kind of money you wish to spend. Although property prices within Singapore have seen a rise, that rise is due towards demand and success of the economy, which cannot be overlooked. These successes have resulted in a successful real estate market that involves anything from residential properties to the perfect condo, so be certain to look into purchasing property in Singapore if you are relocating domestically or relocating abroad.