The Singapore property market is highly regarded right now, which is possible in part to the 2005 introduction of strata-titled properties that means foreigners to buy apartments within buildings without requiring approval from Singapore authorities. The old rules regarding the purchase of apartments within a building of six stories or more no longer apply. As a result of the rule change, buying Singapore property has definitely become significantly easier for everyone purchasing domestically and abroad.

Being that Singapore property is all about either a leasehold or freehold tenure, there are certain requirements that must be met to acquire property within Singapore. This is cash old rule that the building in which one desired to acquire property must be over six stories and considered a condominium rather compared to a simple apartment. But first, we must explain what leasehold and freehold tenures are.

A leasehold title gives possession of the property to purchaser for a associated with time years (which could be the lifetime of the owner), but when that lease expires, the interest whicj has been accrued by your property and the title is handed to the site the state. A freehold title, on the other hand, allows the one who owns the property to hold on to it indefinitely.

But the addition of various leniencies within the Singapore property market is allowing for a hike in you’ll likely properties being acquired, especially in the ‘condominium’ sector as a result of factors described stated above. Yet when a foreigner is looking to purchase property within Singapore, the Singapore Land jade scape Authority still needs to approve the investment in land-titled properties. These land-titled properties are land plots, houses, and bungalows.

The numbers don’t lie, though. The economy has strengthened and that has put the Singapore property market into an upward way. 2006 showed a 10.2% increase in private residential property and since real estate market in Singapore recovered from its darker days in 2004, property prices have shown a 15.8% increase. The values have increased because the market has improved and, despite the increase, people are continuing to choose.

This improvement into the Singapore property market has been an amazing thing for great country and has proven to be a equally great for companies and individuals relocating to the booming Singapore economy. This puts a great face on Singapore and makes it an even greater contributor to earth economy.