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 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 common of foreign buyers. Singapore authorities used to have 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 classified as a condominium. This rule no longer applies, but has not interfered with condo sales within properties.
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 eto 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 in order to an EC. But the majority of that if you is a foreigner or part of some corporate body, you can purchase an EC if can 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 to obtain 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 the area you are considering about so that you might find that what ECs are in their eleventh year and beyond.
But if you will need a good condo, you will go the EC route or you can look into apartments and condos that have apartments that are classified as condos. It kind of depends on your citizenship, if you are part of a corporate body that has relocated in Singapore, or Jade scape what form of money you would like to spend. Although property prices within Singapore have seen a rise, that rise is due on the 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.