Best Singapore Commonwealth Towers Floor Plan
Singapore Commonwealth Towers Floor Plan is an perfect place for those seeking to acquire the best of both worlds; the East and West. This might be the reason Singapore is a preferred destination for expat Chinese and other Asians, who’d like their kids get the very best education, however stay rooted and close to their civilization. Sentosa Cove is just a virtual hub for expats who’ve created this gated community in the deep sea marina, their residence. In fact, there are lots of reports that suggest that Singapore is now the third most popular destination to the wealthy Chinese.
Here are a few concerns to be kept in mind if purchasing real estate in Singapore.Foreigners in Singapore can buy nonstop properties (read apartments and condos) without prior approval of the authorities. This rule is a result of an enactment in 2005 that barred foreigners from buying property in apartment blocks that are lower than six storeys or develop under the class of condominiums. However they still must seek approval from the Singapore Land Authority to purchase landed properties such as bungalows, semi-detached homes, and vacant plots.
They’re also restricted from purchasing an HDB shophouse, an HDB house directly from the HDB, a resale HDB flat that is approved by the HDB, and a condo that is purchased under the Executive Condominium Housing Scheme of 1996. This strategy was introduced for folks who wished to purchase something better than an HDB flat, but could not afford to purchase property. For the uninitiated, HDB is an acronym for Housing and Development Board– Singapore, the public housing authority of Singapore. This was put up from the government of Singapore, with an aim to assist Singaporeans purchase quality home at very affordable prices.
Railroad Owner or PR’s are allowed to purchase HDB flats straight from the HDB, given they form a family nucleus using a Singapore citizen. And also to guard people from flipping their property, owners looking to sell apartments which are far less than 3 years older, would have to pay a duty of 3 percent of their resale value. Thus property owners who purchase property through simple credit and then offer them quickly to get a profit are discouraged from doing this.
As for properties under the Executive Condominium Scheme, PR’s are allowed to buy property in projects that are in the sixth to tenth year from the Temporary Occupation Permit or TOP. In terms of burglars and corporate bodies; they could buy EC property just after the year of their TOP.
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