In search of Great Property in Singapore? Try a Condo

In search of Great Property in Singapore? Try a Condo

You have probably discovered out about 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 usa.

Condos are especially a popular choice 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.

Yet to purchase a high-rise apartment as a result of what is called Executive Condominium projects (EC), you must be 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 Jade scape corporate bodies who are not permanent residents of Singapore are not eligible to obtain an EC. But authorities that if you is a foreigner or part of a corporate body, you can acquire an EC if might be in its eleventh year from the date the Temporary Occupation Permit was issued.

So if you happen to be permanent citizen or even perhaps a corporate body who wishes to purchase an EC, the appropriate action is to locate the developer in that particular area to receive the information you need to make your obtain. If you are a foreigner or corporate body seeking purchase an EC, you should also check with the developer in the area you are interested in so that you should find what ECs will be their eleventh year and beyond.

But if you want a good condo, you will go the EC route or you can look into apartment buildings that have apartments that are considered condos. It roughly depends on your citizenship, if an individual part of a company 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 the demand and success of the economy, which cannot be overlooked. These successes have resulted from 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.