Residential Property in Singapore for Foreigners and PRs

Singapore has the most stable economies amongst many other countries, allowing foreigner stakeholders to invest money in. The country has impressive taxation policies for everyone, who wishing to invest in the property, either commercial or residential.

Certainly, the country has well-established and appreciable governance. Besides, political stability with efficient transparency adds another dimension to prove the case of Singapore more loudly. These huge factors have come a long way to make Singapore an attractive property market to foreign investors. The booming economy and high rate of dollars indeed attract prominent business people worldwide.

Let us discuss regulation related to residential property dealings:

What the Residential Property Act of Singapore say?

According to Singapore’s residential property Act, foreigners and permanent residents (PRs) can seamlessly buy private or public properties without land authority approval. Yet here comes the categories of properties which one you can purchase in Singapore.

Categories of Residential property in Singapore

Singapore has the most powerful housing market due to land scarcity. Hence the property basically has good chance of high rental yield and capital gain as it never difficult to find a buyer or tenant, talking about residential property, there are two categories: Public housing and private housing.

Public Property

Housing Development Board (HDB) is providing the public housing scheme in Singapore. Government has allocated certain subsidies and grants in public housing to ensure most Singaporean has their own house, so there are certain restrictions for who can purchase such public houses.

Eligibility for buying executive condominium (EC) or HDB flat

The following are the different types of properties that foreigners are eligible to buy with certain conditions.

  • A non-Singapore permanent resident is eligible to buy the EC resale with ten years’ worth.
  • A Singaporean permanent resident can buy EC’s resale, which is five to nine-year-old worth.
  • When someone buys a property jointly, he has a chance to buy HDB’s resale property.
  • A joint Singapore’s permanent couple (One PMR and one Non-PR) can buy EC’s resale, which is 5 to 9 years old. Besides, if the couple is not a permanent resident, they can buy EC’s resale, which has ten years’ worth.

1. If you're a foreigner without any work pass buying alone:

You can buy a resale executive condominium (EC) that is more than 10 years old.

2. If you're jointly buying as Singapore Permanent Resident (SPR), you can buy:

  • A resale HDB flat (3 years after obtaining your PR)
  • A resale EC that is more than ten years old

3. If you're a jointly buying as a couple (one Singapore PR and a foreigner):

  • A resale EC that is more than 10 years old

4. If you're jointly buying as foreign couple

  • A resale EC that is more than 10 years old

Private Property

It is lesser restriction in purchasing private property in Singapore as compared to public property. Basically private property comes with elegant design and excellent fittings. The facilities for buying private property are paramount, the purchasing price normally including of free access to many luxury facilities, such as gym, swimming pool, BBQ pit, tennis court and many others, most important, free car parking for one private car is guaranteed for most project, if you have more than one car, most likely you can apply an extra car parking lot for free as long as it is available.

Eligibility for buying private property

  • An apartment or private condominium with strata tile
  • A strata land house with the approval of condominium development
  • A landed property project with special approval from authority, so for only one project Sentosa Cove entitled such special arrangement.

Are there any regulation or restrictions?

Whenever any local or foreigner wishes to buy the land, he/she may face some restrictions in Singapore because the country does not compromise at any stance on public safety. Therefore, there are a few sorts of property, which require some approvals from the Land Unit. These properties are:

  1. Vacant residential land
  2. Terrace house
  3. Bungalow/ Semi-detached house
  4. Shophouse

Still have some doubts and questions? That is common, purchase a property in another country can never be easy, in Base Consultancy, we totally understand your concern, with a professional and licensed property team, Base Consultancy is one of the most preferable choice for local and foreign buyers, we gain the reputation with tremendous experience in guiding our clients in purchasing-decision and close deal from starting till the end.

Subsequently to purchasing transactions, our property team will continue to offer property management services for renting, maintenance etc. Do contact our dedicate and friendly property consultant by email, what’s app or live chat on website.  

Share this post

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email

Home Stay in Singapore

Homestay in Singapore; beneficial or not? Singapore is the land of people from diverse cultures and backgrounds who come for academic purposes. Indeed, you can

Read More »
Shopping Basket