Buying Real Estate in Singapore

Singapore is an ideal place for those looking to get the best of both worlds; the East and West. This is perhaps the reason why Singapore is a preferred destination for expat Chinese and other Asians, who’d like their children get the best education, yet remain rooted and close to their culture.

Sentosa Cove is actually a digital hub for ex-pats who have made this gated community at the deep sea marina, their residence. In reality, you will find numerous reports which indicate that Singapore has become the third most common destination for its wealthy Chinese. Below are a few concerns to be kept in mind when buying real estate in Singapore.

Foreigners in Singapore can buy nonstop properties (read apartments and condominiums) without any prior approval of us government. This rule can be due to an enactment at 2005 that banned foreigners from buying property in apartment blocks that are lower than six stories or come under the category of condos.

They’re also restricted from buying an HDB shophouse, an HDB house straight from the HDB, a resale HDB flat that is approved by the HDB, and a condominium that is purchased under the Executive Condominium Housing Scheme of 1996. This strategy was introduced for men and women who desired to buy something better than an HDB apartment but couldn’t afford to acquire property.  For more Additional info about penthouse, property click at https://www.vernproperty.com.sg/property-type/penthouse/.

Permanent Residents or PR’s have been allowed to purchase HDB flats straight from the HDB, given they form a family nucleus with a Singapore citizen. Pr’s may also purchase an HDB apartment from the resale market; furnish they enlist a minimum of a single occupier as being a Singaporean citizen or PR.

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