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 as a result of 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. Singapore authorities used to have a rule in which another 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 properties.
Yet to purchase a rental as a result of what is 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 aren’t permanent residents of Singapore are not eligible to purchase an EC. But the good news is that if you can be a foreigner or part of an corporate body, you can acquire an EC if is certainly in its eleventh year from the date the Temporary Occupation Permit was issued.
So if you’re permanent citizen or even perhaps a corporate body who wishes to purchase an EC, the appropriate action is to locate the developer for that particular area obtain the information you need 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 find out what you are contemplating about so that you should find what ECs have a their eleventh year and Jade scape beyond.
But if you will want a good condo, you could go the EC route or a person look into apartments or condos that have apartments that are classified as condos. It essentially depends on your citizenship, if an individual part of a corporate 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 within a successful real estate market that involves anything from homes to the perfect condo, so be sure to look into purchasing property in Singapore if you are relocating domestically or relocating abroad.