In search of Great Property in Singapore? Try a Condo

You have probably known the rise in Singapore’s property prices coinciding with the 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 locations.

Condos are especially common of foreign buyers. Singapore authorities used to have 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 buildings in the area.

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 have got 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 aren’t permanent residents of Singapore are not eligible to obtain an EC. But the good news is that if you tend to 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 are permanent citizen or even perhaps a corporate body who would like to purchase an EC, the appropriate action is to locate the developer since particular area to receive the information you must make your obtain. If you are a foreigner or corporate body seeking purchase an EC, you should also check with the developer in where you reside you are seeking so that you should find what ECs have a their eleventh year and beyond.

But if you’ll need a good condo, you will go the EC route or you’re able to look into apartment buildings that have apartments that are classified as condos. It more or less depends on your citizenship, if a person part of a company body that has relocated in Singapore, or what associated with money you are willing to spend. Although property prices within Singapore have seen a rise, that rise is due to your demand and Jade scape 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 sure to look into purchasing property in Singapore if you are relocating domestically or relocating abroad.