You have probably observed the rise in Singapore’s property prices coinciding with the acceleration of the economy. 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 countries.
Condos are especially a hit of foreign buyers. Singapore authorities used to have a rule in which a different 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.
Yet to purchase a condo as a result of what is called Executive Condominium projects (EC), you must be 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 are not permanent residents of jade scape singapore are not eligible to obtain an EC. But tips on you that if you is a foreigner or part of something like a 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 might be a permanent citizen or even perhaps a corporate body who wants to purchase an EC, the appropriate action is to locate the developer during this particular area for the information you’ll want to make your order. If you are a foreigner or corporate body aiming to purchase an EC, you should also check with the developer in where you reside you are interested in so that you will notice that what ECs are in their eleventh year and beyond.
But if you’ll need a good condo, you could go the EC route or purchase look into apartments and condos that have apartments that are classified as condos. It more or less depends on your citizenship, if you are part of a corporate body that has relocated in Singapore, or what form 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 within a successful real estate market that involves anything from homes to the perfect condo, so be certain to look into purchasing property in Singapore if you are relocating domestically or relocating abroad.