You have probably heard about the rise in Singapore’s property prices coinciding with the 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 favorite of foreign buyers. jade scape singapore authorities used to possess a rule in which a foreign 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 buildings in the area.
Yet to purchase an apartment as a result of what’s called Executive Condominium projects (EC), you must be 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 are not permanent residents of Singapore are not eligible in order to an EC. But strategies for that if you can be a foreigner or part of an corporate body, you can obtain 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 a corporate body who would like to purchase an EC, the appropriate action is to locate the developer during this particular area for the information you’ll want to make your pay. If you are a foreigner or corporate body eager to purchase an EC, you should also check with the developer in where you reside you are seeking so that you may find what ECs have a their eleventh year and beyond.
But if you will want a good condo, you can go the EC route or can perform 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 kind of money you would like 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 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.