You have probably discovered the rise in Singapore’s property prices coinciding this acceleration of the monetary system. 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 have a rule in which a distant 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 complexes.
Yet to purchase a rental as a result of what’s called Executive Condominium projects (EC), you must be described as 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 obtain an EC. But the good news is that if you are a foreigner or part of an corporate body, you can find an EC if might be in its eleventh year from the date the Temporary Occupation Permit was issued.
So if you happen to be permanent citizen or even perhaps a corporate body who would like to purchase an EC, the appropriate action is to locate the developer in that particular area acquire the information you must make your obtain. If you are a foreigner or corporate body wanting to purchase an EC, you should also check with the developer in region you are considering so that you might find what ECs reside in their eleventh year and beyond.
But if you will want good condo, you can go the EC route or you’re able to look into apartments that have apartments that are classified as condos. It essentially depends on your citizenship, if happen to be part of a business body that has relocated in Singapore, or what type of money you would like 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 in a successful real estate market that involves anything from residential properties to the perfect Jade scape condo, so make sure you look into purchasing property in Singapore if you are relocating domestically or relocating abroad.