How Do You Understand Non-Restricted Residential Properties?

The Singapore government imposed restrictions about private residential property ownership. In 1973, the government made the Residential Property Act, which gives the citizens of Singapore a good chance to buy and own a property at an affordable price. In 2005, the act was amended to allow foreigners to purchase non-condominium apartments that are less than 6 levels without any need to obtain prior approval. The act’s goal is to balance the land and property ownership between the Singaporeans and the foreigners wanting to buy a property in Singapore. Under the act, a foreign person is defined as not a Singapore citizen, not a Singapore company, not a Singapore society, and not a Singapore limited liability partnership.

Non-restricted properties are condominiums or any development that is classified as a condominium, a flat in a building with six levels or more, and a leasehold estate in a restricted residential property with a term that does not exceed seven years. If you are a foreigner living in Singapore, you should make sure that the property you are going to buy is not under the listing of the restricted property.

Restricted properties in Singapore

The restricted properties are the landed properties, semi-detached, terrace houses, and vacant lands. An example of the landed property is the bungalow. Foreigners need to obtain an approval before they can buy restricted properties. The HDB Shophouse, HDB flat, resale HDB flat, and the Executive Condominium under the Executive Condominium Housing Scheme Act 1996 are also classified as restricted properties.

How do you go about purchasing a non-restricted property in Singapore?

The application or request to buy should be submitted first to the Land Dealing for approval. The Land Dealing issues the certificate and deals with the general inquiries about the act. The Option to Purchase shall state that the sale and purchase of the property require the approval of the Land Dealing Approval Unit or LDAU.

What are the criteria in buying restricted residential property?

You should have a Singapore permanent resident ID or SPR, proof of economic contribution to the government of Singapore, has academic or professional qualifications, can present a resume of verifiable working experience, and form of investments in the type of industry or service sector.

Buying a property jointly as friends

You are allowed to buy a property together as long as both of you are not related and single. Single means you are divorced, widowed, or not married.

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Boutique and Discreet: Yorkville Toronto Luxury Condominium Buildings of Less Than 50 Suites

There are a handful of luxury condominium buildings in Yorkville Toronto that have less than fifty suites. Ownership has its privileges as privacy and discretion are built-in standard features of these luxury boutique buildings. Often times one does not know their exact location as their understated private entrances provide the only evidence that they even exist. Unlike their high-rise counterparts, the floor plans and architecture of the suites in luxury boutique buildings tend to be more original, personable and innovative and many suites occupy whole or half floors. Boutique luxury buildings also provide owners with an intimate living atmosphere. A smaller but more dedicated building staff can focus on the personal needs of each individual resident. However this privacy and discretion comes with a price tag. Living large in a luxury boutique building in Yorkville costs more. Maintenance fees are higher than in larger buildings as there are less unit owners to share in the costs of amenities and building upkeep.

No. 155 Cumberland Street Fifteen Suites Since the early 1960’s a unique two storey penthouse apartment stood atop the office tower at 130 Bloor Street West. Accessed from a discrete entrance on Cumberland, it belonged to philanthropists and society couple Rose and Noah Torno. The 10,000 square foot penthouse was designed in the modernist style of famous American architect Philip Johnson with large windows and large planes. In creating N 155 Cumberland Street, the development team retained the Torno two storey penthouse on levels 13 and 14 and built above it and below it creating high-end residences that mirrored the architectural design and quality of this original penthouse. Existing floors 11 and 12 were converted from office space into five condominium suites. Seven new levels, adding an additional nine suites, were also built above the original penthouse creating an irregular tower faced in limestone. Residents use the same private entrance that the Tornos did which opens to a luxurious lobby with two private express elevators. All suites feature large terraces or balconies and outdoor barbequing is permitted. Ceiling heights are eleven feet and the penthouse and sub penthouse levels feature twelve foot ceiling heights. Interior finishes were done by builder Joe Brennan with suites having floor to ceiling unobstructed windows and radiant in-floor heating. Amenities of N 155 Cumberland Street: Concierge, Security Guard, Visitor Parking.

The Hazelton Private Residences 118 Yorkville Avenue Sixteen Suites Residents can take advantage of all the amenities of the five star Hazelton Hotel including Mark McEwan’s “ONE Restaurant”. Hotel suites are located on floors 2 to 4. Private Residences are located on floors 5 to 9 and accessed by a private elevator for residents. All suites feature minimum ten foot ceilings and have full individual control of heating and cooling year around. The smallest size suite is 2815 square feet and the largest is the Penthouse at 8100 square feet. Amenities at The Hazelton: Twenty Four Hour Concierge, Valet Parking, Twenty Four Hour Room Service, Indoor Lap Pool, Full Service Spa and Fitness Centre, Private Screening Room and Meeting Facilities.

The Windsor Arms Condominium Residences 22 St. Thomas Street Twenty Four Suites Situated next to the stretch of Bloor Street designer shops known as the “Mink Mile”, the private residences are located above the four storeys of the Windsor Arms Hotel. The Windsor Arms Condominium Residences has its own separate street entrance with lobby and private elevators. Only two suites per floor, all units have nine foot six inch ceilings, individually controlled heating and cooling systems and fireplaces. Residents have access to all of the five star luxury hotel amenities including Courtyard Cafe, Club 22, Tea Room, twenty four hour room service, housekeeping, salon and spa services. Suites range in size from a single one bedroom suite of 1350 square feet with all other units over 2800 square feet and an almost 5000 square foot full floor penthouse. Amenities of the Windsor Arms: Twenty Four Hour Concierge, Valet Parking, Private Party Room, Swimming Pool and Steam Room, Exercise Room

Museum House 206 Bloor Street West Twenty Six Suites Currently Under Construction An exclusive and intimate building of limestone, metal and glass located across the street from the Daniel Libeskind designed Crystal of the Royal Ontario Museum. Maximum of two units per floor with some units occupying the whole floors. Like the 32 storey Exhibit Residences next door to it, Museum House’s suites are all oriented north and or south giving residents clear panoramic views. Ceiling heights are a minimum of ten feet and whole floor suites feature eleven foot ceilings. All suites have fireplaces and expansive outdoor terraces. Suites range in size from 1942 square feet up to the 2 storey 5620 square foot penthouse with 4 terraces, outdoor spa and a private interior elevator. Each residence is pre-wired for Bang & Olufsen audio and video. Amenities of Museum House: Twenty Four Hour Concierge, Valet Parking, Individual Elevator Access to Each Suite, Fitness Centre, Guest Suite, Boardroom.

The St. Thomas 2 St. Thomas Street Forty-eight Suites Pre-Construction Located on the south west corner of St. Thomas and Charles Street West, 2 St. Thomas Street will be a contemporary residential tower anchored by a two storey black granite podium designed by architect Hariri Pontarini. The two storey podium houses the party room, wine lounge, private dining room, business facility, catering kitchen and reading lounge. The indoor pool and fitness facilities are located on the third level. Suite ceiling heights vary from 10 feet to 11’6″ depending on the floor and the penthouse level features 12 foot ceiling heights. All suites include a minimum of one parking spot and residences over 1700 square feet have two parking spots. One storage locker is also included with each residence and located in the underground parking garage. A high efficiency air handling unit in each suite provides year-round heating and air conditioning. Units with terraces include a gas outlet for barbeques. In the event of a blackout, a stand-by generator provides up to twenty four hours of hot water and basic electrical power supply to each residence. All suites come with a gas fireplace, a built-in wall safe and Miele kitchen and laundry appliances. Suites range in size from 1373 square feet up to the full floor residences of 6217 square feet. Minto has plans to build Six St. Thomas, an 11 storey luxury rental residence just to the north of The St. Thomas. Amenities of The St. Thomas: Twenty Four Hour Concierge, Valet Parking, Doorman, Party Room, Wine Lounge, Private Dining Room, Business Facility, Catering Kitchen, Reading Lounge, Indoor Lap Pool with Outdoor Sun Terrace, Fitness Facilities, Two Furnished Guest Suites on 4th Floor.

No. 8 Sultan Street Twenty-five Suites Located directly across the street from the Windsor Arms Hotel, this is where Yorkville and the luxury designer shopping of Bloor Street meet. All suites at 8 Sultan have private balconies, gas fireplaces, nine foot ceilings. Penthouses are two level with ten foot ceilings and have private rooftop terraces. All suites include at least one parking spot and heating and air conditioning is provided by an engineered system that permits either heating or cooling to be activated in any season. Suites range in size from two bedroom 1178 square foot units to 3100 plus square foot penthouses. Amenities of 8 Sultan St: Concierge 1 pm to 9 pm daily, Fully Equipped Gym Accessed From Second Floor.

The Renaissance Court 164 Cumberland Street Thirty-one Suites While the Renaissance Court may not offer the extras in services and amenities of the luxury boutique buildings in Yorkville it makes up for in affordability as it provides a less pricier option for those on a smaller budget who like the idea of living in Yorkville in a smaller more intimate building. Ideally located just south of the Hazelton Hotel and next door to the Four Seasons Hotel, the entrance to this understated building is found on the courtyard walkway between Yorkville Avenue and Cumberland Street. The lobby of the Renaissance Court is located on the first floor and the units occupy floors four to seven and feature one and two bedroom suites. Sizes range from the smallest one bedroom of 1155 square feet to the largest suite made up of two units put together of over 3000 square feet. Many suites feature fireplaces. Seventh floor penthouse level suites have skylights and a few lucky units located on the fourth floor have terraces. Each unit has their own heat pump giving residents individual control of heating and cooling. At the Renaissance Court rental parking is available for all residents and there is also twenty four hour concierge.

Townhomes for Sale

You can trace this word back to early England royalty where the term referred to a home that was kept “in town” when the primary home was in the country. Today, in the United States, it is a single-family home with at least two floors. The house shares a wall with another townhouse. Although they are like a duplex, there is one difference. Townhouses are owned by an individual and duplexes are not. You can find townhomes for sale in areas where property prices are high and land is in short supply. Many times people will look at both condominiums and townhomes for sale because they think they are the same. There is a difference though. Yes, some townhouses are sold under the listing condominium but the difference is the form of ownership. If you purchase a condominium or a townhouse that is listed as a condominium, you will just own the inside of the building. You may own the property outside as well if you purchase it as a townhouse. It depends on the rules of the homeowner’s association.

Advantages

• Living in a townhouse you are flanked on either side with other homes can give you lower heating bill since only two of the townhouse have outdoor exposure directly

• If it is part of a homeowners association you have little responsibility in regards to maintaining the outside, which can mean less maintenance costs

• Townhomes for sale are less expensive to buy than a freestanding house, which is good when money is tight.

• Being two floors there is less noise below or above and more privacy

Disadvantages

• They are lower in value and if you sell your townhouse there is less profit to be made.

• If you have to sell your townhouse in a depressed market you could lose money

• You may be disturbed by your neighbor noise

• Have little space to garden and a small backyard

• You have less say about what the exterior appearance of your townhouse

• Because there are two sides, three if you live at the end of the row can have windows so there is less light in your townhouse.

• In certain real estate markets, buying townhomes for sale can be financially risky

• There may be homeowner association fees you have to pay, and they can be high

If there seems to be more disadvantages than advantages to buying townhomes for sale there are many people who enjoy living in a townhouse and will put up with the disadvantages. They like the close proximity of their neighbors. They are glad they do not have to be responsible for the upkeep of the exterior property, even if they have to pay homeowner association fees.

A Review Of The Parvis Condominium In Holland Hill, Singapore

The Parvis condominium is located in the District 10 of the Holland Hill. With about 248 units and 12 storeys tall, you sure would be glad to wake in the morning looking at your window and seeing the best of the Holland Hill. The fact is, owning a condo is a whole lot easier than owning a house because you only have to decorate the interiors of your unit and then enjoy the common areas and amenities of the property.

If having shared walls won’t be a disadvantage to you, you will find yourself lucky as the exterior and common area repairs won’t be solely your responsibility. You can visit the Parvis Condo in 12 – 18 Holland Hill. The Developer is the Calne Pte Ltd. This freehold property is very safe and secure. You can just leave and go for a vacation or business trip anytime you want. The security features of the condo make it less desirable for strange people to thoughtfully mess them up.

The concept of a premium lifestyle has been exhibited by its interior and exterior designs, amenities, and utilities. Living comfortably on a tight budget is possible in the Parvis condo. To bring comfort in all that you do, you just need to live in a unit that already provides the kind of lifestyle you want. Also, the convenience stores and supermarkets are just a short walk away from the condo. This means never spending on gas in your life when there is a need to go to the grocery. The condo is located near:

  • Holland village
  • Commonwealth MRT station
  • Farrer road MRT station

Are you ready to view this place? The Parvis condo has an excellent layout in a fulfilling lifestyle. Remind your real estate agent to let you see the pool where you can sit and sip your drink and just relax for the evening. The facilities in Parvis Condo include:

  • Lap pool
  • Jacuzzi
  • Steam bath
  • Clubhouse
  • Gym
  • Multipurpose hall
  • BBQ pits playground
  • Fitness station
  • Tennis court

Just in case you want to know the area and the number of bedrooms, you can buy to as many as 4 bedrooms with a spacious 2,600 sq ft. The building comes with a 273 lots underground park.

• 2-Bedroom (51 units): 990 – 1,440 sq ft

• 3-Bedroom (100 units): 1,700 – 2,260 sq ft

• 4-Bedroom (76 units): 1990 – 2,600 sq ft

• Penthouse (21 units): 2,300 – 3,230 sq ft

What is so cool about this condo? The 4 bedroom unit comes with a private lift that opens into the foyer. The common lift is accessible through the kitchen back door.

Why buy a condo instead of a house and lot?

There is only one thing that comes into my mind – the amenities. The facilities and the amenities offered by condominiums are outstanding and you can only get this or maybe near to it if you are rich and earning a few thousand dollars in a month. You don’t have to worry about club memberships anymore as you would automatically become a member if you are an owner of a condo unit.