You have probably heard about 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 from foreign globe.
Condos are especially a popular choice 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 condo sales within properties.
Yet to purchase a rental as a result of what is called Executive Condominium projects (EC), you must deemed a Singapore citizen or resident and the purchase have got 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 good news is that if you tend to be a foreigner or part of some corporate body, you can buy 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 perhaps a corporate body who wishes to purchase an EC, the appropriate action is to locate the developer for that particular area acquire the information you need to make your expense. If you are a foreigner or corporate body wanting to purchase an EC, you should also check with the developer in find out what you are seeking so that you should find what ECs have a their eleventh year and beyond.
But if you will want a good condo, you will go the EC route or you can look into apartments and condos that have apartments that are considered condos. It kind of depends on your citizenship, if happen to be part of a company body that has relocated in jade scape singapore, or what form of money you are willing to spend. Although property prices within Singapore have seen a rise, that rise is due to your demand and success of the economy, which cannot be overlooked. These successes have resulted in the successful real estate market that involves anything from residential properties to the perfect condo, so make sure to look into purchasing property in Singapore if you are relocating domestically or relocating abroad.