Congratulations! You have found a home away from home and become a Singapore Permanent Resident (PR). The next step is to choose to own your own home in Singapore and consider buying a property. After all, housing is a basic necessity. Besides for your own stay, it can also be rented out or held for a period before being sold as a long-term investment, killing two birds with one stone.
Basically, once foreigners in Singapore obtain permanent residency, those who are able to buy a property will choose to do so as soon as possible. So, what properties can Permanent Residents buy in Singapore? Roughly how much does it cost to buy a property? Can you get a loan? How are the taxes calculated? Today, as a senior local real estate agent in Singapore, I will answer these questions for you one by one.
Latest & Popular Residential Units
Price psf from $2,802
District 09 (Orchard / River Valley)
Freehold
1 to 3 Bedroom Units from $1.356M
- Location and Convenience: Situated in a prime location in Singapore’s Core Central Region, adjacent to Dhoby Ghaut MRT station, providing quick and easy connections to the entire island. The project site was formerly Sophia Ville and Fairhaven, acquired through an en-bloc sale worth S$62 million.
- Project Information: This development offers 78 exclusive residential units spread across two 5-storey buildings. Residents can enjoy a variety of condominium facilities, such as a swimming pool, spa pool, social and reading lounges, outdoor BBQ area, rooftop bar and dining, etc.
- Unit Mix and Price: Offers a variety of floor plans from 1-bedroom units (441 sqft) to 3-bedroom dual-key units (829 sqft) to suit different living needs. The prices are highly attractive, offering buyers an excellent investment opportunity.
- Educational Institutions: The project is close to several renowned schools, including Stamford Primary School, River Valley Primary School, Chatsworth International School, and St. Margaret’s Primary School, ensuring residents’ children have access to quality education.
- URA Transformation Plan: It will benefit from the upcoming Orchard Road URA transformation plan, which aims to turn the Orchard area into a vibrant lifestyle destination, thereby increasing the project’s appeal.
Price psf from $2,041
District 15 (East Coast / Marine Parade)
99-Year Leasehold
1 to 5 Bedroom Units and Penthouses from $1.390M
- Prime Location: Located in Tanjong Katong in District 15, just a one-minute walk from Dakota MRT station, offering convenient transport links to all key locations in Singapore.
- Abundant Shopping and Dining Options: Surrounded by multiple shopping malls like City Plaza, Katong Shopping Centre, and PLQ Mall, as well as a diverse range of dining choices, including local and international cuisine.
- Rich Leisure and Entertainment Facilities: Close to East Coast Park where residents can enjoy seaside activities. The Circle Line MRT also provides easy access to leisure spots like the Marina Bay Waterfront Promenade and Gardens by the Bay.
- Educational Institutions: Close to several prestigious schools, including Kong Hwa School, Haig Girls’ School, and Tanjong Katong Primary, providing convenience for families with school-aged children.
- Diverse Residential Choices: Offers a wide range of unit types from 1-bedroom to 5-bedroom apartments and penthouses, catering to the needs of different families and investors.
- Convenient Transportation: In addition to being near an MRT station, numerous bus routes and expressways provide easy connectivity to the city.
Table of Contents
What Properties Can Singapore Permanent Residents (PRs) Buy?
There are two types of properties that Singapore Permanent Residents can choose to buy:
- Resale HDB flats (with restrictions)
- Private condominiums
Firstly, Singapore Permanent Residents cannot buy new Build-To-Order (BTO) flats; they are only allowed to purchase resale HDB flats. To buy a resale HDB flat, Permanent Residents must meet these conditions: both spouses must be PRs, and both must have held their PR status for at least 3 years.
Single Permanent Residents are not eligible to buy resale HDB flats.
Singapore Permanent Residents can buy private condominiums without any requirements or restrictions.
How Much Does It Cost for Singapore Permanent Residents (PRs) to Buy Property?
If you plan to buy a private condominium in Singapore, how much money should you prepare?
Although Singapore is small, it is divided into 28 postal districts and 3 main regions. Property prices can vary significantly between different areas. 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 because most multinational corporations, universities, and traditional prime residential areas are concentrated in these districts. The table below shows the average prices for new condominiums in these districts:
| District | Average Price (SGD) | Average Price (CNY) |
| District 1 | 2,531 SGD/sqft | 146,571 CNY/sqm |
| District 2 | 2,646 SGD/sqft | 153,231 CNY/sqm |
| District 3 | 2,835 SGD/sqft | 164,176 CNY/sqm |
| District 4 | 2,593 SGD/sqft | 150,161 CNY/sqm |
| District 5 | 2,220 SGD/sqft | 128,561 CNY/sqm |
| District 6 | 2,974 SGD/sqft | 172,225 CNY/sqm |
| District 7 | 3,095 SGD/sqft | 179,232 CNY/sqm |
| District 9 | 3,049 SGD/sqft | 176,569 CNY/sqm |
| District 10 | 2,999 SGD/sqft | 173,673 CNY/sqm |
| District 11 | 2,964 SGD/sqft | 171,646 CNY/sqm |
| District 15 | 2,460 SGD/sqft | 142,459 CNY/sqm |
Average prices for new condominiums in Districts 1-7, 9, 10, 11, and 15
1 SGD converts to 5.38 CNY
Of course, the above are just average prices; prices will differ based on location, specifications, and developer. You can choose a trustworthy local real estate agent to provide you with more detailed information about districts and projects, as they can usually help you find the most suitable property.
If you want to check the prices of condominiums near your workplace or your child’s school, you can refer to the lowest entry prices for Singapore condominiums.
Can Singapore Permanent Residents (PRs) Get a Loan to Buy Property?
Yes, Singapore Permanent Residents can get a loan to buy property, and they can borrow up to 75% of the property price.
How Are Taxes Calculated for Property Purchases by Singapore Permanent Residents (PRs)?
If your property purchase price is below S$1 million, the tax payable is 8%* of the property price (3% Buyer’s Stamp Duty + 5% Additional Buyer’s Stamp Duty).
If your property purchase price is between S$1 million and S$1.5 million, the tax payable is 9%* of the property price (4% Buyer’s Stamp Duty + 5% Additional Buyer’s Stamp Duty).
If your property purchase price is between S$1.5 million and S$3 million, the tax payable is 10%* of the property price (5% Buyer’s Stamp Duty + 5% Additional Buyer’s Stamp Duty).
If your property purchase price is above S$3 million, the tax payable is 11%* of the property price (6% Buyer’s Stamp Duty + 5% Additional Buyer’s Stamp Duty).
*⚠️Note: Applicable only for the purchase of the first residential property
Related Articles:
What is the Down Payment for a Condo for Singapore Permanent Residents (PRs)?
In most cases, if you opt for a loan and can borrow 75% from the bank, the down payment for a condominium will be 25%, calculated based on the Loan-to-Value (LTV) ratio.
What is the Process for a Singapore Permanent Resident (PR) to Buy a Condo?
If you are buying a new launch property in Singapore, the steps are as follows:
- On the day of booking: 5% of the purchase price (as booking fee)
- Within 1-2 weeks: The developer sends the Sales and Purchase Agreement (S&P) to the law firm
- Within 3 weeks of receiving the S&P: Secure the loan and sign the agreement at the law firm
- Within 2 weeks of signing the S&P: The buyer must pay the stamp duty
- Within 8 weeks of booking: Pay 15% of the purchase price
- Make payments according to the construction progress
If you are buying a resale property in Singapore, the steps are as follows:
- Select a property you like (through a real estate agent or property portal);
- Contact the seller to negotiate and agree on a price;
- Pay a 1% option fee;
- Apply for a bank loan;
- Within the next 14 days, pay a 4% exercise fee;
- Sign the Sale and Purchase Agreement;
- On the completion date, pay the remaining purchase price minus the home loan amount;
- Take possession of the property.
Conclusion
It is very common for Singapore Permanent Residents to buy property in Singapore. Many who work or immigrate here choose to purchase their own homes. On one hand, it can be for their own stay during their time in Singapore, eliminating the need to rent. On the other hand, if not for self-occupancy, it can be rented out or sold, making it a very good investment.
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