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 gets.
Condos are especially a hit of foreign buyers. Singapore authorities used to have a rule in which a far off 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 flat 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 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 in order to an EC. But tips on you that if you are a foreigner or part of an corporate body, you can buy an EC if is in its eleventh year from the date the Temporary Occupation Permit was issued.
So if you are permanent citizen or a corporate body who wishes to purchase an EC, the appropriate action is to locate the developer for that particular area obtain the information it is advisable to make your pay. If you are a foreigner or corporate body aiming to purchase an EC, you should also check with the developer in region you are considering about so that you might find what ECs will be their eleventh year and beyond.
But if you will want good condo, may refine go the EC route or you can look into apartments or condos that have apartments that are classified as condos. It roughly depends on your citizenship, if you might be part of a company body that has relocated in Singapore, or what involving money you wish to spend. Although property prices within Singapore have seen a rise, that rise is due into the demand and Jade scape 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 make sure you look into purchasing property in Singapore if you are relocating domestically or relocating abroad.