You have probably heard about the rise in Singapore’s property prices coinciding associated with acceleration of the current economic condition. 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 locations.
Condos are especially well-liked of foreign buyers. Singapore authorities used to have a rule in which a foreign buyer could only purchase an apartment in a building higher than six stories and the apartment had to be classified as a condominium. This rule no longer applies, but has not interfered with condo sales within complexes.
Yet to purchase a high-rise apartment as a result of what’s called Executive Condominium projects (EC), you must deemed 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 tips on you that if you can be a foreigner or part of the corporate body, you can acquire an EC if can in its eleventh year from the date the Temporary Occupation Permit was issued.
So if you might be a permanent citizen or even perhaps a corporate body who wishes to purchase an EC, the appropriate action is to locate the developer during this particular area for the information you must make your expense. 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 seeking so that you will notice that what ECs have a their eleventh year and beyond.
But if you will want a good condo, you could go the EC route or you can look into apartment buildings that have apartments that are classified as condos. It essentially depends on your citizenship, if you are part of a company body that has relocated in Singapore, or Jade scape what associated with money you are willing to spend. Although property prices within Singapore have seen a rise, that rise is due to the 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.