You have probably discovered out about the rise in Singapore’s property prices coinciding with the acceleration of the current economic condition. 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 common 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 flat as a result of what is called Executive Condominium projects (EC), you must consist Singapore citizen or resident and the purchase will need to pass place anywhere between the sixth and tenth year from the date the Temporary Occupation Permit was granted. Any foreigners or Jade scape corporate bodies who are not permanent residents of Singapore are not eligible in order to an EC. But the majority of that if you are a foreigner or part of an corporate body, you can purchase an EC if might be in its eleventh year from the date the Temporary Occupation Permit was issued.
So if you might be a permanent citizen perhaps corporate body who wants to purchase an EC, the appropriate action is to locate the developer since particular area for the information you must make your obtain. If you are a foreigner or corporate body seeking purchase an EC, you should also check with the developer in region you are seeking so that you should find what ECs reside in their eleventh year and beyond.
But if you’ll need a good condo, you can go the EC route or you can look into apartment buildings that have apartments that are considered condos. It roughly depends on your citizenship, if you might be part of a corporate body that has relocated in Singapore, or what kind of money you wish 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 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.