You have probably observed the rise in Singapore’s property prices coinciding with the acceleration of the markets. 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 from foreign countries.
Condos are especially common of foreign buyers. jade scape singapore authorities used to possess 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 rental as a result of what is called Executive Condominium projects (EC), you must include of a Singapore citizen or resident and the purchase have to 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 in order to an EC. But authorities that if you can be a foreigner or part of some corporate body, you can buy an EC if is certainly in its eleventh year from the date the Temporary Occupation Permit was issued.
So if you are a permanent citizen or a corporate body who wishes to purchase an EC, the appropriate action is to locate the developer in that particular area acquire the information it is advisable to make your order. If you are a foreigner or corporate body eager to purchase an EC, you should also check with the developer in region you are interested in so that you might find that what ECs reside in their eleventh year and beyond.
But if you want a good condo, you will go the EC route or you’re able to look into apartments that have apartments that are classified as condos. It roughly depends on your citizenship, if you are part of a corporate body that has relocated in Singapore, or what form of money you are willing 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 within a successful real estate market that involves anything from homes to the perfect condo, so make sure you look into purchasing property in Singapore if you are relocating domestically or relocating abroad.