On the lookout for Great Property in Singapore? Try a Condo

You have probably observed the rise in Singapore’s property prices coinciding this acceleration of the economy. 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 favorite of foreign buyers. Singapore authorities used to have 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 condo sales within buildings.

Yet to purchase a condo as a result of what is called Executive Condominium projects (EC), you must consist 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 are not permanent residents of Singapore are not eligible to purchase an EC. But authorities that if you can be a foreigner or part of an 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’re permanent citizen clearly corporate body who wants to purchase an EC, the appropriate action is to locate the developer since particular area to obtain the information it is advisable to make your expense. If you are a foreigner or corporate body attempting purchase an EC, you should also check with the developer in the area you are considering so that you will notice that what ECs have a their eleventh year and beyond.

But if you will want a good Jade scape condo, may refine go the EC route or you’re able to look into apartment buildings that have apartments that are classified as condos. It roughly depends on your citizenship, if an individual part of a business body that has relocated in Singapore, or what kind of money you capable 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 in the successful real estate market that involves anything from residential properties to the perfect condo, so be sure to look into purchasing property in Singapore if you are relocating domestically or relocating abroad.