Buying property in Singapore is easier now and you can find good apartments where you live a better way of life for which you have dreamt of. The Singapore Government in 1973 imposed certain restrictions on foreign possession for private properties in Singapore. The Singapore Residential Property Act governs the entire procedure now helping users to purchase apartments orchard without any intricacies. Foreigners who want to buy properties such as vacant lands, semi-detached and terraced houses and bungalows need to get prior permission in order to carry out all activities flawlessly. Landed properties are recognized as a type of residential property due to which they come out with all these restrictions.
The restricted properties are given here as follows:
- An HDB flat, which is purchased from HDB directly.
- Executive condominium that’s bought under the Executive Condominium Housing Scheme Act, 1996.
- An HDB Shop house.
- A HDB for resale with consent from HDB for sale.
So, if you are going to purchases restricted properties make sure you have proper permission, ensuring you can get the one with effective legal documents. The executive apartments come out with suitable options and if it’s a restricted one you won’t find any difficulty getting consent for that.
What are HDB apartments?
HDB flats are the apartments which are maintained by the Housing Development Board (HDB) and above 80% of the Singaporeans live in these HDB flats. Also, you can get the service apartment for rent that would help you to stay well exploring how life gives you the ultimate joy and ecstasy. For the HDB flats the living room is considered as one room accompanied with recreational and sports facilities. Also, you would get supermarkets, food stores, clinics, schools that would give you the opportunity to give your family a nice lifestyle. You can easily give your kid a better future and can do shopping peacefully.