You have probably known the rise in Singapore’s property prices coinciding this 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 locations.
Condos are especially a popular choice of foreign buyers. Singapore authorities used to possess 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 complexes.
Yet to purchase a high-rise apartment as a result of what is called Executive Condominium projects (EC), you must consist Singapore citizen or Jade scape resident and the purchase must 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 are a foreigner or part of some corporate body, you can acquire an EC if can in its eleventh year from the date the Temporary Occupation Permit was issued.
So if you might be a permanent citizen or even perhaps a corporate body who would like to purchase an EC, the appropriate action is to locate the developer for that particular area for the information you must make your purchase. If you are a foreigner or corporate body seeking purchase an EC, you should also check with the developer in where you reside you are contemplating about so that you might find what ECs will be their eleventh year and beyond.
But if you’ll need a good condo, you will go the EC route or can perform look into apartments or condos that have apartments that are considered condos. It roughly depends on your citizenship, if you are part of a company body that has relocated in Singapore, or what associated with money you would like 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 make sure you look into purchasing property in Singapore if you are relocating domestically or relocating abroad.