Foreigners can purchase private properties, such as apartments and private condominiums, but they will need government approval to purchase properties such as bungalows. Foreigners can only purchase Executive Condominiums (EC) that are at least 10 years old. Foreigners cannot buy HDB floors in Singapore. Yes, foreigners can buy property in Singapore, but with certain restrictions.
Under the Residential Property Act, a foreigner can purchase both public housing and private property. However, there are restrictions on what foreigners can and cannot buy. It gets a little more complicated when it comes to real estate, such as terrace houses, bungalows, etc. In general, foreigners are not allowed to purchase such properties, unless, of course, they can obtain special consent from the Singapore Land Authority to do so.
Such permission is only granted when the applicant can demonstrate that he is making an “adequate economic contribution” to Singapore, a somewhat nebulous but, as always, practical rule. Robertson Quay is an obvious choice among younger expats looking to enjoy the vibrant nightlife offered by the Singapore Riverfront row of restaurants and bars. These are usually purchased by individuals or households who can afford HDB public flats but are not ready to buy private housing. Given its reputation for having the world's lowest crime rates, cleanliness and efficiency to be commended, it's no surprise that Singapore is ranked as one of the best countries for expats to live in.
Public Housing Development Board (HDB) apartments are built with the intention of making affordable housing available to ordinary Singaporean citizens. HDB apartments are government-subsidized housing units sold to the public by the Housing Development Board %26 under a 99-year lease. Now that you've found your dream property in the HDB or in the private housing market, it's time to close the deal. With us, you'll feel right at home when you search for houses, condos, apartments and HDBs for sale %26 rent in Singapore.
Similarly, a non-permanent resident (NPR) can purchase an HDB resale floor under the Noncitizen Spouses Plan, as long as their spouse is an SC. Private homes come with freehold status and have significantly lower purchase requirements, but are more expensive than public HDB floors. Foreigners cannot purchase new HDB floors, such as build-to-order floors (BTO) or Sale of Balance Flats (SBF), regardless of whether they are permanent residents of Singapore (SPR). Serangoon is seeing a surge in popularity among expats for its wallet-friendly living options, excellent connectivity to other parts of Singapore and easy access to several international schools.
Read more to learn more about the mortgage loan packages offered by DBS, from HDB to private properties, BUC to finished projects, fixed and floating rates, and more. Real Estate Investment in SingaporeBuying a New Launch Condo New Launch Condo vs Resale Condo Upgrading from HDB to CondoForeigners buying property in Singapore. In particular, permanent residents enjoy more (but not full) access to HDB floors and executive condominiums.
Leave Message