You have probably known the rise in Singapore’s property prices coinciding this acceleration of the environment. 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 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 buildings in the area.
Yet to purchase a condo 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 in order to an EC. But authorities that if you are a foreigner or part of some corporate body, you can purchase an EC if it is 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 for that particular area to obtain the information you must make your expense. If you are a foreigner or corporate body wanting to purchase an EC, you should also check with the developer in find out what you are considering so that you will notice that what ECs is going to be their eleventh year and beyond.
But if you will need a good condo, you could go the EC route or can perform look into apartments or condos that have apartments that are classified as condos. It roughly depends on your citizenship, Jade scape if happen to be part of a corporate body that has relocated in Singapore, or what associated with money you definitely will spend. Although property prices within Singapore have seen a rise, that rise is due to your demand and success of the economy, which cannot be overlooked. These successes have resulted from a successful real estate market that involves anything from residential properties to the perfect condo, so make sure to look into purchasing property in Singapore if you are relocating domestically or relocating abroad.