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5-rm for SALE, $0 4


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Foreigner Buying Property In Singapore




As there is an increase in foreigner buying property in Singapore in recent years, we have created this information page for those who are keen to invest in Singapore property. Read and understand foreign ownership of property in Singapore before you commit to buy one.

Since 1973, the Singapore Government has imposed restrictions on foreigner buying property in Singapore under the Residential Property Act. Under this Act, foreigners are allowed to purchase non-restricted residential property, to acquire or purchase restricted residential property, foreigner will need to obtain prior approval of the Minister for Law.

Foreign Person

Under the Act, a foreign person means any person who is not any of the following:

  • Singapore citizen

  • Singapore company

  • Singapore limited liability partnership

  • Singapore society
Singapore Permanent Resident (SPR) is also considered a foreigner.

Restricted Residential Property

Under the Act, restricted residential property refers to:

  • vacant residential land

  • landed property - detached house / bungalow, semi-detached house / semi-d, terrace house, linked house and townhouse

  • landed property in strata developments which are not approved condominium developments under the Planning Act.
Exception

Since Aug 2004, the Government has relax the rules for foreigner buying property in Singapore . The state has allowed foreigners to buy both land parcels and completed homes at Sentosa Cove. Although they would still need to seek approval from the Land Dealings Unit, it would be an express approval within 2 days (6 weeks for application to own other lands or landed properties). Foreign buyers will also be exempted from applying for Qualifying Certificate and 3 security bond but there are some terms and conditions they have to abide to.

Non-Restricted Residential Property

Under the Act, Non-Restricted Residential Property refers to:

  • any apartment within a building

  • any unit in an approved condominium development under the Planning Act

  • Note: A foreign person is not allowed to acquire all the apartments within a building or all the units in an approved condominium development without the prior approval of the Minister for Law.

  • a leasehold estate in restricted residential property for a term not exceeding 7 years, including any further term which may be granted by way of an option for renewal.

Properties that are not under the purview of the Residential Property Act

HDB Flat

HDB flat is a public residential property in Singapore and come under the jurisdiction of the Housing & Development Board (HDB), a statutory board under Ministry of National Development (MND). Foreigners are not allowed to purchase new HDB flat from HDB, but Singapore Permanent Residents (SPR) are allowed to purchase HDB resale flat from the open market. HDB also have a Non-Citizen Spouse Scheme which allows a Singapore citizen with a non-citizen spouse to buy an HDB flat from the resale market.

Exception

Executive Condominiums (EC) is a type of HDB flat that were introduced to cater to Singaporeans, especially young graduates and professionals who can afford more than an HDB flat but find private property to be out of their reach. ECs are comparable in design and facilities to private condominiums as they are developed and sold by the private developers. From 11th year, all restrictions will be lifted. Foreigners and corporate bodies can buy ECs in the open market from 11th year of the EC project.

Commercial And Industrial Property

In Singapore foreigners are allowed to own Commercial and Industrial land or landed properties but shophouse which is not strata subdivided and is erected on land which has been zoned Residential is considered Restricted Property so foreigners are not allowed to buy without approval from the government.

Although HDB shophouses are built buy HDB (Housing & Development Board), there is no restriction on foreigners so long they are above 21 years of age and are not an undercharged bankrupt except for those zoned residential.

Latest Singapore Property Cooling Measures - 8 December 2011

  1. Foreigners and non-individuals (corporate entities) buying any residential property will pay an ABSD ( Additional Buyer's Stamp Duty ) of 10%;

  2. Permanent Residents (PRs) owning one and buying the second and subsequent residential property will pay an ABSD ( Additional Buyer's Stamp Duty ) of 3%;


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