You have probably known 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 locations.
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 Jade scape the apartment had to be classified as a condominium. This rule no longer applies, but has not interfered with condo sales within buildings.
Yet to purchase a condo 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 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 are not permanent residents of Singapore are not eligible obtain an EC. But tips on you that if you is a foreigner or part of some corporate body, you can find an EC if is certainly in its eleventh year from the date the Temporary Occupation Permit was issued.
So if you are permanent citizen perhaps corporate body who would like to purchase an EC, the appropriate action is to locate the developer simply because particular area to obtain the information you must make your pay. 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 reside in their eleventh year and beyond.
But if you want a good condo, discover go the EC route or you’re able to look into apartments and condos that have apartments that are considered condos. It essentially depends on your citizenship, if happen to be part of a company body that has relocated in Singapore, or what associated with money you are willing to spend. Although property prices within Singapore have seen a rise, that rise is due towards demand and success of the economy, which cannot be overlooked. These successes have resulted from a successful real estate market that involves anything from homes to the perfect condo, so be certain to look into purchasing property in Singapore if you are relocating domestically or relocating abroad.