You have probably observed the rise in Singapore’s property prices coinciding with the acceleration of the markets. 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 gets.
Condos are especially a popular choice of foreign buyers. 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 complexes.
Yet to purchase a flat as a result of what is called Executive Condominium projects (EC), you must include of a Singapore citizen or resident and the purchase have eto 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 obtain an EC. But authorities that if you tend to be a foreigner or part of some corporate body, you can purchase an EC if can in its eleventh year from the date the Temporary Occupation Permit was issued.
So if you are permanent citizen clearly corporate body who wants to purchase an EC, the appropriate action is to locate the developer since particular area for the information it is advisable to make your pay. 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 considering about so that you might find what ECs reside in their eleventh year and beyond.
But if you want a good condo, you could go the EC route or purchase look into apartments that have apartments that are considered condos. It essentially depends on your citizenship, if an individual part of a company body that has relocated in jade scape singapore, or what form of money you would like 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 residential properties to the perfect condo, so make sure you look into purchasing property in Singapore if you are relocating domestically or relocating abroad.