Singapore is renowned for its good governance, stable political environment, transparency and efficiency in handling matters, and business-friendly convenience, making it a popular destination for overseas investment. This has given rise to a series of questions, with one of the biggest among foreign investors being: “Can foreigners buy property in Singapore?”
The answer is yes, but we need to define who qualifies as a “foreigner.”
Table of Contents
Who Qualifies as a “Foreigner”?
Simply put, if you are not a Singapore Citizen, or do not represent/belong to a Singapore company, a Singapore limited liability partnership, or a Singaporean society, you will be classified as a foreigner. Therefore, even a Singapore Permanent Resident (PR) is considered a foreigner.
What Can Foreigners Buy and What Are the Restrictions?
| What Singapore Permanent Residents (PRs) can buy | What non-Singapore Permanent Residents can buy |
| Resale HDB flat (with another Singapore PR or Singapore Citizen) |
Private condominium |
| Resale Executive Condominium (EC) that has reached its 5-year Minimum Occupation Period (MOP) | Resale Executive Condominium (EC) that is over 10 years old and fully privatized |
| Private condominium | Landed property in Sentosa Cove |
| Strata-landed house / Townhouse (with special permission from the Singapore Land Authority (SLA)) |
Landed property (with special permission from the Singapore Land Authority) |
| Landed property in Sentosa Cove | |
| Landed property (with special permission from the Singapore Land Authority) |
According to the Residential Property Act, foreigners can purchase public housing and private properties. However, there are still some restrictions on what types of properties foreigners can and cannot acquire.
Public / Public-Private Hybrid Housing
The public housing market, managed by the Housing & Development Board (HDB), has certain restrictions. It’s important to note that both Singapore Permanent Residents and non-Permanent Residents are restricted from buying new HDB flats, such as Build-To-Order (BTO) flats and units from Sale of Balance Flats (SBF) exercises. There are also other conditions.
Eligibility to Purchase
Here are the types of properties foreigners can buy:
1. If you are a non-Singapore Permanent Resident (PR) buying alone:
You can only purchase Executive Condominiums (ECs) that are over 10 years old and private condominiums.
2. If you are a Singapore Permanent Resident buying alone:
Besides new HDB flats, Singapore PRs cannot buy resale HDB flats alone. They can only purchase resale ECs that have met the 5-year Minimum Occupation Period and private condominiums.
3. If you are a Singapore Permanent Resident buying with another Singapore Permanent Resident:
- Resale HDB flat (3 years after obtaining PR status)
- Resale EC that is over 5 years old
- Privatized EC that is over 10 years old
- Private condominium
4. If you are a Singapore Permanent Resident buying with a non-Singapore Permanent Resident:
- Resale EC that is over 5 years old
- Privatized EC that is over 10 years old
- Private condominium
5. If you are a couple of non-Singapore Permanent Residents buying together:
- Privatized EC that is over 10 years old
- Private condominium
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Private Property
Unlike HDB flats, there are far fewer restrictions on buying private property, which might make it a more appealing option for you. They typically feature better amenities and designs and are generally located closer to the Central Business District (CBD). Compared to HDB flats, private condominiums with facilities like swimming pools, gyms, and saunas will also come with a higher price tag.
Eligibility to Purchase
Here are the common types of properties that foreigners can buy:
- Private condominium
- Detached house in Sentosa Cove
Restrictions
There are some restrictions when it comes to purchasing landed properties on mainland Singapore.
Therefore, when you want to buy the following types of properties, you must first obtain approval from the Land Dealings Approval Unit (LDAU) of the Singapore Land Authority (SLA).
- Vacant residential land
- Terrace house
- Townhouse
- Semi-detached house
- Bungalow / Detached house
- Strata-landed house / Townhouse that is not in a condominium project approved under the Planning Act
- Shophouse (for non-commercial use)
Approval is granted on a case-by-case basis.
Applicants who can demonstrate that they have made an “exceptional economic contribution” to Singapore will have a better chance, as stated by the SLA.
How to Apply
You can contact the Singapore Land Authority at 6478-3444 or apply on the SLA website.
Alternatively, you can visit the following address: Land Dealings Approval Unit, Singapore Land Authority, 55 Newton Road, #12-01 Revenue House, Singapore 307987
The Process of Buying Property in Singapore
Step 1: Check Your Affordability with a Singapore Property Agent
Once you have a general idea of where you want to buy, the next step is to see if you can afford it.
Step 2: Check How Much Tax You Need to Pay
Foreigners are required to pay Additional Buyer’s Stamp Duty (ABSD) when purchasing residential property in Singapore.
Singapore Permanent Residents purchasing their first residential property are required to pay 5% ABSD, and 25% for their second and subsequent properties.
Meanwhile, foreigners are required to pay 60% ABSD regardless of the number of residential properties purchased.
However, citizens of the United States or citizens and permanent residents from Switzerland, Liechtenstein, Norway, and Iceland do not need to pay ABSD.
You will also need to pay Buyer’s Stamp Duty (BSD) of 3% to 6% and Mortgage Duty (up to S$500, only if you take a bank loan).
Want to calculate how much stamp duty you need to pay for your Singapore property? Please contact me
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Step 3: Browse AnjiaSG’s Property Listings
Our listings provide a selection of properties across Singapore to meet your needs and budget.
Generally, you should consider proximity to amenities, MRT stations, parks, future developments, and commuting convenience as part of your selection criteria.
Step 4: Shortlist New Condominium Projects and Book Showflat Viewings
Once you have shortlisted your options, it’s time to find a reliable local Singapore property agent to assist you with the purchase. A property agent can help you find a house that suits your needs, get the best deal, do your financial calculations, and handle the process and other tedious details.
We are the designated sales team for all developer projects and do not charge any agent fees for the purchase of new condominiums.
Looking to buy a property in Singapore? Please contact me
Step 5: Pay the Booking Fee
When buying a new launch condominium in Singapore, you need to pay 5% of the property price as a booking fee (must be paid in cash) and sign the Option to Purchase (OTP) to officially reserve the unit. This means that if you back out of the purchase, the developer will forfeit a portion (25%) of your booking fee.
Next, you will need to appoint a lawyer. The process of buying a property in Singapore must be handled by a lawyer who will manage the legal matters for you during the purchase.
Step 6: Apply for a Bank Loan
Once you have the Option to Purchase, you can apply for a loan from a bank. The bank will issue you a Letter of Offer, which contains the terms and conditions of the mortgage loan.
Foreigners can apply for bank loans in Singapore.
You can get a loan of up to 75% of the property price for your first home, 45% for the second, and 35% for the third and subsequent homes.
Step 7: Sign the Sale and Purchase Agreement (S&P)
Within two weeks of receiving the Option to Purchase, the developer will send the Sale and Purchase Agreement (S&P) to your lawyer.
You must sign the S&P within three weeks of receiving it.
Within two weeks of signing the S&P, you must pay the Buyer’s Stamp Duty (BSD) and Additional Buyer’s Stamp Duty (ABSD).
Within eight weeks of signing the OTP, you must pay the remaining 15% down payment (in cash or CPF).
For foreigners, you will need to pay this amount in cash.
Subsequently, you will pay the remaining portion in cash, and the rest will be covered by the bank loan.
Step 8: Make Progressive Payments Until Completion
From this stage, your bank loan will be disbursed according to the construction progress. The payment schedule for a new launch property is as follows:
Step 9: Collect the Keys to Your New Home
When your new home obtains its Temporary Occupation Permit (TOP) after inspection by the Urban Redevelopment Authority (URA), the developer will notify you to arrange a date to collect the keys. With that, the process of buying a new launch condominium is complete.
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