You have probably heard about 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 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 classified as 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 be 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 are not permanent residents of Singapore are not eligible to purchase an EC. But the good news is that if you are a foreigner or part of a 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 are a permanent citizen or a corporate body who wants 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 purchase. 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 may find what ECs are in their eleventh year and beyond.
But if you want a good condo, you can go the EC route or you can look into apartment buildings that have apartments that are classified as condos. It more or less depends on your citizenship, if you are part of a corporate body that has relocated to 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 the demand and success of the economy, which cannot be overlooked. These successes have resulted in a 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.
A one pearl bank condo in Singapore is built adjacent to another unit. Although you do not see your home built on the ground, you will be proud to be an owner of a condo in Singapore. You will just have the ownership of the home, and you will also be a part-owner of the general amenities. The following are the benefits of living in a condo in Singapore.
Enjoy a pool in your own home.
Although literally, the swimming pool was made for the enjoyment of all the owners of a condo unit, you will be given the privilege to use the swimming pool anytime you want. Usually, you will pay a higher amount when you go to a swimming lesson or a nearby pool just to cool yourself down during a hot day. You will spend a considerable amount of money just to have access to certain private swimming pools or to enjoy membership in a clubhouse. This is no longer a problem once you stay in a condo in Singapore. You can plunge into the cold water of the pool anytime you want. Feel the cold water soothe your aching back after a tiring day at work.
Are you hosting a party but you don't have enough money to shoulder the expenses for a pool party? Well, if you are an owner of a condo in Singapore you don't have to bother counting the amount you shall spend just to have the best venue for your party. You can hold it right at your swimming pool.
Dress up as if you are on a Caribbean coast, and let your hips sway to the beat of the drums as you organize a Caribbean theme that will be recalled for a lifetime. You don't have to spend a cent just to feel how wonderful it is to party on an island. Does it in the comfort of your swimming pool just an elevator away? So, swim your worries away as you dive. Who cares? You're swimming in your pool.
Sweat your fats out in your gym.
Are you conscious of your weight that seems to add up every day? If you own a condo in Singapore you just need to take the elevator and go to your gym to solve this problem. Although you are sharing the ownership of the gym with the other unit owners, still you are privileged to have a gym of your own that you can use anytime you want. You don't have to take a cab just to bring you to the nearest gym in the city. There are no ifs and buts when it comes to schedules of your exercise. You don't have any reason at all to be burdened by your weight-loss program.
Aside from the fact that the conveniences of the condo in Singapore will help you stick to your budget, you can say that you have the chance to enjoy these simple luxuries without spending too much.