How can foreigners buy property in Singapore is a frequently asked question. Singapore is a small country and city where many people dream of having a home of their own. The city offers many properties, such as flats, apartments, condominiums, houses, and landed homes. Foreigners are fortunate to be able to buy property in Singapore but must follow specific rules and regulations.
Can foreigners buy property in Singapore?
Yes, foreigners can buy property in Singapore, although there are certain restrictions on foreign property ownership in Singapore. These restrictions vary depending on the type of property:
- HDB flats: HDB flats are government-subsidized housing units that are only available for purchase by Singapore nationals and permanent residents. The Housing & Development Board (HDB) sells these flats under a 99-year lease agreement. Foreigners cannot buy these flats directly from the government.
- Resale HDB flats: Resale HDB flats are sold by previous owners who have met the Minimum Occupation Period (MOP), which can be between 5 and 20 years, depending on the property type. While the prices of these flats are not regulated by the Housing & Development Board, foreigners can generally not buy them.
- Private apartments and condominiums: Private apartments and condominiums are individually owned properties where owners share common areas within the building or complex. Foreigners can buy and hold as many private apartments or condos in Singapore as they want, as there is no limit to the number a foreigner can buy.
- Executive condominiums: Permanent residents (PR) can buy subsidized executive condominiums five years after the building is completed. Foreigners, however, can buy these properties only after they have been completed for ten years.
- Landed residential properties: To own landed residential properties such as terrace houses and bungalows, foreigners must get government approval. This approval is granted based on the foreigner’s economic contribution to Singapore. Foreigners interested in such properties must apply through the Singapore Land Authority (SLA).
- Commercial properties: There are no restrictions for foreigners who want to buy commercial properties in Singapore. These properties include shops, offices, hotels, warehouses, factories, and shopping malls.
While foreigners have the right to buy and own property in Singapore, it’s essential to understand the restrictions and the property types available for purchase.
What properties can foreigners buy in Singapore?
Foreigners must be aware of the new rules for buying property in Singapore. The table below gives an overview of what properties foreigners can buy in Singapore.
|Properties Singaporeans can buy||Properties foreigners can buy|
|Resale HDB flats||Private condos|
|Resale executive condominiums (ECs) that have reached the Minimum Occupation Period (MOP)||Private ECs|
|Private ECs||Landed properties in Sentosa Cove|
|Private condos||Landed properties (with special permission from SLA)|
|Landed properties in Sentosa Cove|
|Landed properties (with special permission from Singapore Land Authority (SLA))|
Do you want to buy property in Singapore?
Critical points for a US citizen buying property in Singapore or any other foreigner include considering the type of property, understanding the regulations, and the tax implications, such as the Additional Buyer’s Stamp Duty. Working with a local real estate agent can simplify the process and help you find the property for sale in Singapore you’re looking for.
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Frequently Asked Questions (FAQs)
What property can foreigners buy in Singapore?
Foreigners can buy property in Singapore, with private condominiums and apartments being the most accessible. Foreigners can also buy private executive condominiums, landed properties in Sentosa Cove, and landed properties in other parts if they have permission from the government.
How can foreigners buy property in Singapore?
To buy property in Singapore, foreigners need to follow the regulations set by the Singapore Land Authority. Private condominiums are readily available for purchase, while landed properties require approval unless located in Sentosa Cove. Working with a local real estate agent can simplify the process.
Do you have to be a citizen to buy a house in Singapore?
You don’t have to be a citizen to buy a house in Singapore. While Singapore property is more accessible to citizens, foreigners are not excluded. However, new rules for buying property in Singapore imply stricter regulations for foreigners, particularly for landed properties and HDB flats.
Can non-Singaporeans own property in Singapore?
Yes, non-Singaporeans can own property in Singapore, specifically private condominiums and specific landed properties like those in Sentosa Cove or with the right approvals.
Can foreigners buy commercial property in Singapore?
Yes, foreigners can buy commercial property in Singapore, including offices and retail spaces, subject to approval from relevant authorities.
Can foreigners buy landed property in Singapore?
Foreigners generally cannot buy landed property in Singapore, except for Sentosa Cove. This remains a point of interest in the Singapore property market.
Can foreigners buy industrial property in Singapore?
Yes, foreigners can buy industrial property in Singapore when following regulations by JTC Corporation for industrial lands and buildings.
Can foreigners buy resale HDB in Singapore?
Foreigners, excluding Singapore Permanent Residents, are generally not allowed to buy resale HDB in Singapore. HDB flats are primarily for citizens.
Can foreigners buy freehold property in Singapore?
Foreigners can buy freehold property in Singapore, specifically condominiums. However, landed freehold properties require special approval.
Can foreigners buy strata-landed property in Singapore?
Foreigners cannot buy strata-landed property in Singapore without permission from the government.