As one of the world’s financial centers, Singapore is home to the Asian headquarters of many multinational corporations. Consequently, numerous foreigners work, live, settle, and retire in Singapore. Many parents also send their children to study in Singapore or immigrate with their entire families.
Whether you are working, living, or studying in Singapore, after a certain period, you will likely consider buying a property. After all, Singapore boasts a great environment, a developed economy, stable property prices, and some of the lowest mortgage rates globally. Buying here is often seen as a sound investment. Besides owner-occupancy, a property can be rented out or sold after a period for long-term capital appreciation, serving a dual purpose.
Basically, most foreigners who can afford to buy property in Singapore choose to do so as early as possible. So, can foreigners buy property in Singapore? What conditions must be met? How much does it cost? Can you get a loan? What are the interest rates? Today, as a senior local real estate agent in Singapore, I will answer these questions for you one by one.
Quick summary: Foreigners can buy private condominiums and landed homes in Sentosa Cove, but not public housing (HDB flats). Budget for: the property price + 60% Additional Buyer’s Stamp Duty (ABSD) + 1%–6% Buyer’s Stamp Duty (BSD) + legal and valuation fees; the maximum first home loan is 75% (and because foreigners have no CPF, the entire down payment must be in cash). Buying property does not equal immigration, but it can be part of a long-term plan for living, schooling, and investment in Singapore.
Table of Contents
Can foreigners buy property in Singapore?
The most direct answer is: Yes.
Singapore is a highly inclusive immigrant nation, with 74.3% of its population being of Chinese descent. This means that about 3 out of every 4 Singaporeans are Chinese, making it the only country outside of mainland China with a majority ethnic Chinese population.
The Singapore government encourages people from all over the world to work, study, and settle here, and therefore allows foreigners to purchase real estate. However, compared to Singapore Citizens and Permanent Residents (PRs), there are some restrictions for foreigners buying property in Singapore.
What are the restrictions on buying property in Singapore?
Foreigners can only choose from two types of properties in Singapore:
- Private condominiums
- Landed properties in Sentosa Cove
Due to Singapore’s limited land and dense population, the government has implemented measures to stabilize property prices and ensure that local residents can afford to buy homes for marriage and family life. This includes providing policy support for Singapore citizens, such as building affordable HDB flats, and restricting the types of property foreigners can purchase. Apart from landed properties in Sentosa Cove, foreigners can only buy private condominiums.
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How much does it cost to buy property in Singapore?
If you plan to buy a private condominium in Singapore, how much should you prepare?
Although Singapore is small, it is divided into 28 districts. Property prices can vary significantly between different districts. When selecting a property, you can choose condominiums in different price ranges based on your budget.
Generally, condominiums in Districts 1-7, 9, 10, 11, and 15 are more expensive, as most multinational corporations, universities, and traditional affluent residential areas are concentrated in these zones. The table below shows the average prices for condominiums in these districts:
| District | Average Price (SGD) | Average Price (RMB) |
| District 1 | 2,531 SGD/sqft | 146,571 RMB/sqm |
| District 2 | 2,646 SGD/sqft | 153,231 RMB/sqm |
| District 3 | 2,835 SGD/sqft | 164,176 RMB/sqm |
| District 4 | 2,593 SGD/sqft | 150,161 RMB/sqm |
| District 5 | 2,220 SGD/sqft | 128,561 RMB/sqm |
| District 6 | 2,974 SGD/sqft | 172,225 RMB/sqm |
| District 7 | 3,095 SGD/sqft | 179,232 RMB/sqm |
| District 9 | 3,049 SGD/sqft | 176,569 RMB/sqm |
| District 10 | 2,999 SGD/sqft | 173,673 RMB/sqm |
| District 11 | 2,964 SGD/sqft | 171,646 RMB/sqm |
| District 15 | 2,460 SGD/sqft | 142,459 RMB/sqm |
Average prices for new condominiums in Districts 1 – 7, 9, 10, 11, and 15
1 SGD to 5.38 RMB
If you are working in Singapore, you can check the condominium prices near your workplace. If the average price exceeds your budget, you can consider adjacent neighborhoods or more distant communities with good transport links. If you are studying in Singapore or sending your child to school here, choosing a condominium near an international school would be the most convenient option.
Of course, the figures above are just averages; prices will vary based on location, amenities, and developer. You can choose a trustworthy local real estate agent to provide you with more detailed information on districts and projects, as they can usually help you find the most suitable property.
Can foreigners get a loan to buy property in Singapore?
Yes, foreigners can get a loan to buy property in Singapore, with a maximum loan of up to 75% of the property value.
How are taxes calculated for foreigners buying property in Singapore?
A foreigner’s total stamp duty = Buyer’s Stamp Duty (BSD, tiered 1%–6% by price) + Additional Buyer’s Stamp Duty (ABSD, a flat 60%). BSD is tiered rather than charged at the top rate on the whole price, so the effective rate is slightly lower than the top band. Below are the precise amounts at common price points (charged on the higher of the price or market value):
| Property Price | BSD | ABSD (60%) | Total Stamp Duty | ≈ % of price |
| S$1 million | S$24,600 | S$600,000 | S$624,600 | ~62.5% |
| S$1.5 million | S$44,600 | S$900,000 | S$944,600 | ~63.0% |
| S$2 million | S$69,600 | S$1,200,000 | S$1,269,600 | ~63.5% |
| S$3 million | S$119,600 | S$1,800,000 | S$1,919,600 | ~64.0% |
| S$4 million | S$179,600 | S$2,400,000 | S$2,579,600 | ~64.5% |
Note: the above is for foreigners (who pay 60% ABSD). For the full tiered BSD calculation and the rates for every buyer profile, see Singapore Stamp Duty.
In addition, Singapore has Free Trade Agreement (FTA) remissions with certain countries: citizens and permanent residents of Iceland, Norway, Switzerland and Liechtenstein, and citizens of the United States, buying their first residential property under their personal name receive the same treatment as a Singapore Citizen (no ABSD on the first home). If your nationality is not on this list, you pay the full 60% ABSD on any property.
What is the down payment for foreigners buying property in Singapore?
The Monetary Authority of Singapore (MAS) caps the maximum first home loan at 75% of the property value (loan tenure not exceeding 30 years and the borrower not past age 65 at maturity; otherwise it drops to 55%), meaning a minimum down payment of 25%, of which at least 5% must be in cash.
In practice, the financing a foreign buyer can secure depends on whether they hold a Singapore work pass: those with a work pass (e.g. EP or SP) and stable income can usually be approved close to the 75% ceiling, while foreigners without a Singapore work pass are typically approved at around 60%–70%. Foreigners also have no CPF account and cannot fund the rest from CPF, so the entire down payment must be paid in cash.
More importantly, a foreigner’s first property also incurs 60% ABSD plus 1%–6% BSD, along with legal and valuation fees — all payable in cash — so the real upfront cash is far above 30%. (See Singapore Stamp Duty for the full rates and calculation.)
What are the general steps for a foreigner to buy property?
If you are buying a new launch property in Singapore, the steps are as follows:
- On booking day: Pay 5% of the purchase price (as a deposit).
- Within 1-2 weeks: The developer sends the Sale and Purchase Agreement (S&P) to your law firm.
- Within 3 weeks of receiving the S&P: Arrange for the loan and sign the documents at the law firm.
- Within 2 weeks of signing the S&P: The buyer must pay the Buyer’s Stamp Duty.
- Within 8 weeks of booking: Pay 15% of the purchase price.
- Make subsequent payments according to the construction progress.
If you are buying a resale property in Singapore, the steps are as follows:
- Select a property you are satisfied with (through a real estate agent or property portal).
- Contact the seller to negotiate and agree on a mutually acceptable price.
- Pay a 1% deposit.
- Apply for a bank loan.
- Pay the remaining 4% of the down payment within the next 14 days.
- Sign the Sale and Purchase Agreement.
- On the completion date, pay the remaining purchase price minus the home loan amount.
- The property title is transferred.
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Can I complete a property transaction if I am not in Singapore?
Yes. Overseas buyers can sign documents at a local law firm that provides notarization/authentication services (Notary Public) or at a Singapore embassy. Overseas buyers can also arrange for a Power of Attorney (POA) through a lawyer, authorizing a relative or friend in Singapore to represent them in the property transaction.
Can I immigrate to Singapore by buying property?
Buying property in Singapore does not equate to immigration. Property is purchased from developers or private sellers, whereas permanent residency (PR) is granted by the Immigration & Checkpoints Authority (ICA) based on a holistic assessment of the applicant’s overall profile — economic contributions, family background, length of residency, tax records, and integration. Singapore has no “buy property to migrate” scheme, and property ownership is not a scoring factor in a PR application. If you have migration plans, it is best to assess the property purchase and the immigration application separately.
Frequently Asked Questions (FAQ)
Can foreigners buy property in Singapore?
Yes. Foreigners can buy private condominiums and landed homes in Sentosa Cove, but not public housing (HDB flats).
How much tax does a foreigner pay when buying property in Singapore?
1%–6% Buyer’s Stamp Duty (BSD) plus 60% Additional Buyer’s Stamp Duty (ABSD) on any property. For example, on a S$2 million home, BSD ≈ S$69,600 and ABSD S$1,200,000. See Singapore Stamp Duty for the full calculation.
Can foreigners get a home loan, and how much?
Yes. MAS caps the first home loan at 75% of value; in practice work-pass holders (e.g. EP/SP) can be approved close to 75%, while foreigners without a Singapore work pass are typically approved at around 60%–70%. Foreigners have no CPF, so the down payment must be in cash.
What is the down payment for a foreigner?
At least 25% of the price (with at least 5% in cash; since foreigners have no CPF, the entire down payment is cash), plus the 60% ABSD and 1%–6% BSD, all payable in cash.
Can I complete the purchase if I am not in Singapore?
Yes. You can sign at a local notary/authentication lawyer or a Singapore embassy, or grant a Power of Attorney (POA) to a relative or friend in Singapore to act on your behalf.
Can I immigrate to Singapore by buying property?
No. Buying property does not equate to immigration; Singapore has no “buy property to migrate” scheme. PR is granted by the ICA based on a holistic assessment, and property ownership is not a scoring factor.
Conclusion
It is very common for foreigners to buy property in Singapore. Many who work or study here choose to purchase their own homes. On one hand, it provides a place to live during their time in Singapore. On the other hand, if not owner-occupied, the property can be rented out or sold, making it an excellent investment.
If you are considering buying a property in Singapore, feel free to contact us anytime. We will provide you with comprehensive, real-time information to help you navigate the process smoothly!
- All Questions Answered Before Buying a Home in Singapore
- Should You Invest in a Freehold or 99-Year Leasehold Property in Singapore?
Official sources:
- IRAS — Additional Buyer’s Stamp Duty (ABSD): iras.gov.sg
- IRAS — Buyer’s Stamp Duty (BSD): iras.gov.sg
- MAS — Loan Tenure and Loan-to-Value (LTV) Limits: mas.gov.sg
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