You have probably known the rise in Singapore’s property prices coinciding with the acceleration of the monetary system. 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 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 considered a condominium. This rule no longer applies, but has not interfered with Jade scape condo sales within constructs.
Yet to purchase a rental as a result of what is called Executive Condominium projects (EC), you must be described as a Singapore citizen or 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 aren’t permanent residents of Singapore are not eligible to purchase an EC. But the majority of that if you can easily foreigner or part of the 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’re 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 obtain the information you must make your purchase. If you are a foreigner or corporate body attempting purchase an EC, you should also check with the developer in the area you are seeking so that you might find what ECs reside in their eleventh year and beyond.
But if you want a good condo, may refine go the EC route or can perform look into apartments and condos that have apartments that are considered condos. It roughly depends on your citizenship, if you might be part of a company body that has relocated in Singapore, or what kind of money you are willing to 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 within 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.