Trying to find Great Property in Singapore? Try a Condo
You have probably known the rise in Singapore’s property prices coinciding this acceleration of the environment. 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 locations.
Condos are especially a hit of foreign buyers. Singapore authorities used to possess a rule in which a far off 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 constructs.
Yet to purchase a condo as a result of what’s called Executive Condominium projects (EC), you must include of a Singapore citizen or resident and the purchase will need to pass 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 purchase an EC. But the good news is that if you can be a 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 happen to be permanent citizen clearly corporate body who wishes to purchase an EC, the appropriate action is to locate the developer in that particular area obtain the information you need to make your expense. If you are a foreigner or corporate body wanting to purchase an EC, you should also check with the developer in the area you are interested in so that you might find that what ECs are in their eleventh year and beyond.
But if you want a good condo, you could go the EC route or a person look into apartment buildings that have apartments that are classified as condos. It more or less depends on your citizenship, if an individual part of a company body that has relocated in Singapore, or what involving money you are willing to spend. Although property prices within Singapore have seen a rise, that rise is due into the demand and Jade scape success of the economy, which cannot be overlooked. These successes have resulted in the successful real estate market that involves anything from residential properties to the perfect condo, so be certain to look into purchasing property in Singapore if you are relocating domestically or relocating abroad.
