Singapore is a small country and land area is scarce. Titled properties or land properties are expensive and are considered a high end as well. Because of this, the real estate market is mostly consists of high rise condominiums and apartment buildings. Generally, there are about 80 percent of Singaporeans who live an entire high rise buildings may managed by a government arm while others occupy private apartments, affinity serangoon landed properties and exclusive condominiums.

The growth of the citizenry in Singapore is also contributed by the rapid influx of foreigners to the country. Because of the liberal economic market that Singapore has, foreigners are drawn to make america their second home. In doing so, it is advisable that foreigners look into the different kinds of properties most especially because each of them have their own foreign ownership restrictions. When you buy property in Singapore, make sure that you already recognize the general classifications of the properties that have been set by the national.

When you buy property in Singapore, the different kinds of properties include: private apartments that are split into apartments or condominium units; landed properties that are further classified into semi detached houses, terraced houses, detached houses, shop houses,and exclusive bungalows; HBD flats or those that are maintained by the Housing and Development Board, a government subsidiary and the most affordable housing unit each morning country; and the executive condominiums specifically for while they were professionals. Foreign ownership restrictions are strictly implemented in this country. Originally, when foreigners buy property in Singapore, the could only occupy small apartment units or buy landed property provided that as they produce documents such as a valid working permit or a students pass. Recently, however, the government has already relaxed this rule for the purpose of attracting more foreign investments. Now, foreigners that have the status of a permanent resident or has become a Singaporean citizen can buy HDB flats directly by means of government or through re-sale. When you buy property in Singapore, there are different criteria when it comes to being qualified to acquire an HDB flat, which, in brief, are the following: having a Permanent Residency Status, at least 21 years of age, must either be married or have the intention to get married, have parents or siblings or children, combined income of not more than S$8,000 per month if you opt to apply to a Housing grant.

When you buy property in Singapore, it is always best to get the help of a solicitor. You will need to help you expedite ought to be familiar especially when it comes to the different legalities intertwined with buying a valuables. Before signing the contract, you need to also be sure that you already have the necessary funds especially for the reservation deposit. Financing can be an option for tourists. When you buy property in Singapore, there are also other important processes which have essential as well because they involve the documentation route. These include the Option to purchase document that officially a person with 14 days within which to decide whether definitely will purchase the property or not, an Offer to get document where there are very few time involved but good for your health the offer to be binding already, a Sales and Purchase Agreement when a caveat is already lodged on the property, as well as the Fees and Commissions.