Property Market
Buying in Singapore as a foreigner
If a foreigner wishes to purchase private residential property in Singapore, they must apply to do so by submitting an application to the Land Dealings (Approval) Unit. This is because the 1973 Residential Property Act restricts the purchase of private residential property by foreigners in Singapore.
The act was amended in 2005, so that no prior approval is necessary for foreigners to purchase apartments, also known as strata-titled properties. However, prior approval is still needed if a foreigner wishes to purchase vacant land, houses, or bungalows. Real estate prices have recently increased because of the property boom, strong economy, and increase in foreign capital. Singapore imposes restrictions on property purchase for foreigners in an effort to give Singaporeans equal opportunity to purchase housing at fair prices. A foreigner is also not allowed to purchase Housing Development Board (HDB) apartments unless they include a Singaporean citizen to form a family nucleus in the purchased apartment. To buy an HDB apartment from the resale market you must be a Singaporean citizen or Singapore permanent resident.
If you are an expatriate or foreigner and would like to purchase a restricted residential property (house, bungalow, etc.) you need to fill out an application form and submit it to the Land Dealings (Approval) Unit. The form can be downloaded at http://www.sla.gov.sg .
Also in this section
- Property Market: Buying in Singapore as a foreigner
- Finding a House to Buy: Where to look for real estate in Singapore
- The Purchasing Process: Procedures for buying property in Singapore