You have probably heard about the rise in Singapore’s property prices coinciding this 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 from foreign globe.
Condos are especially a hit of foreign buyers. Singapore authorities used to possess a rule in which a far off 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 Jade scape condo sales within buildings in the area.
Yet to purchase a high-rise apartment as a result of what is called Executive Condominium projects (EC), you must be described as 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 aren’t permanent residents of Singapore are not eligible to obtain an EC. But the majority of that if you tend to be a foreigner or part of an corporate body, you can obtain an EC if can 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 would like to purchase an EC, the appropriate action is to locate the developer for that particular area for the information it is advisable to make your order. If you are a foreigner or corporate body aiming to purchase an EC, you should also check with the developer in designed you are considering so that you should find what ECs are in their eleventh year and beyond.
But if you will want good condo, may refine go the EC route or can perform look into apartment buildings that have apartments that are considered condos. It roughly depends on your citizenship, if you are part of a corporate body that has relocated in Singapore, or what involving money you definitely will 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 within a successful real estate market that involves anything from residential properties to the perfect condo, so make sure you look into purchasing property in Singapore if you are relocating domestically or relocating abroad.