You have probably observed the rise in Singapore’s property prices coinciding with the acceleration of the current economic condition. You have also probably heard that because of the changes in various housing rules, acquiring property within Singapore has become easier for those purchasing domestically and from foreign countries.
Condos are especially a hit of foreign buyers. Singapore authorities used to possess a rule in which a different 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 condo as a result of what’s called Executive Condominium projects (EC), you must be 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 obtain an EC. But the good news is that if you can easily foreigner or part of something like a corporate body, you can purchase an EC if it is in its eleventh year from the date the Temporary Occupation Permit was issued.
So if you’re permanent citizen or perhaps a corporate body who would like to purchase an EC, the appropriate action is to locate the developer during this particular area to obtain the information you ought to make your pay. If you are a foreigner or corporate body aiming to purchase an EC, you should also check with the developer in find out what you are contemplating about so that you may find what ECs is going to be their eleventh year and beyond.
But if you will need a good condo, may refine go the EC route or you can look into apartments and condos that have apartments that are classified as condos. It roughly depends on your citizenship, if you are part of a company body that has relocated in Singapore, or what associated with money you wish to spend. Although property prices within Singapore have seen a rise, that rise is due into the demand and success of the economy, which cannot be overlooked. These successes have resulted within a successful real estate market that involves anything from residential properties to the perfect condo, so be sure to look into purchasing property in Singapore if you are relocating domestically or Jade scape relocating abroad.