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Singapore’s Residential Property Regulations For Foreigners

Expats posted to Singapore for work or other reasons may find themselves having to choose the most ideal associated with accommodation for the long-term. While expensive hotels may suffice for short trips, many rent a space to lower your costs. There is really a third solution - purchasing property.

There are no prevailing laws in Singapore which prevents foreign nationals from purchasing or acquiring residential properties in the wilderness. The Residential Property Act of Singapore primarily assists Singapore nationals of acquisition of very home by providing reasonable prices. Also, the Act encourages foreigners who usually make their a significant contribution to Singapore's economic prosperity to acquire residential properties in the city-state.

Further, an expat may purchase non-restricted residential properties any kind of permits or affinity serangoon approval from Singapore government officials.

A foreign national may desire shop for all units in a property development; however, before he or she can accomplish this, Singapore's Minister of Law must issue an appreciation. In the same vein, a foreigner any kind of prior official sanction from Singapore's Minister of Law cannot own residential properties that are classified as restricted.

Property classified as restricted under the Residential Property Act of Singapore means: a vacant residential land - town houses, separate or semi-linked homes, or terraced houses sitting on residential lands - lands not authorized for condominium development under the Planning Act.

The expatriate who plans to pick up a restricted residential property must fill out a form whereas submit this, while getting necessary supporting papers, to the Singapore Land Authority. The bureau is a major contributor to evaluating the foreigner's eligibility to search for restricted residential property and for issuing the approval if it finds the expat's qualifications in flow.

Residential properties owed to the non-restricted category: any apartment flat or condo unit included in the Planning Act and leasehold estates zoned under restricted residential properties for terms not exceeding 7 months or even years.