At AREA, we are committed to facilitate the smooth and planned relocation of every client. Regardless of relocating one’s family or their assets, we painstakingly go through a rigorous checklist to make sure the move is a smooth process.
We have assisted many foreigners and foreign companies to setup companies and bring in their business ideas into Singapore. We have also helped many families to make Singapore their home away from home.
We make sure every logistic, administrative and immigration formalities are adequately addressed and our clients can focus on making that move.
There are restriction for foreigners purchasing residential properties with a land element. You can have a look at the various types of properties that are available in Singapore and what a foreigner can or cannot buy in our Singapore Property Types page.
Foreign Ownership of Properties
Since 1973, the Singapore Government has imposed restrictions on foreign ownership of private residential property in Singapore. Such ownership is governed by the Residential Property Act (the Act).
The Act seeks to strike a balance between giving Singaporeans a stake in the country by being able to buy and own residential properties at affordable prices, while attracting foreign talent by allowing permanent residents, foreign companies and limited liability partnerships that make an economic contribution to Singapore to purchase such properties for their occupation.
The Land Dealings (Approval) Unit administers the provisions of the Act and its rules by:
- processing applications from foreign persons for approval to acquire or retain restricted residential property;
- issuing clearance certificates to Singapore companies, limited liability partnerships and societies;
- prosecuting offences under the Act; and
- dealing with general enquiries relating to the operation of the Act.
Under the Act, a foreign person means any person who is not any of the following:
- Singapore citizen;
- Singapore company;
- Singapore limited liability partnership; or
- Singapore society.
If you are a foreign person and are interested in purchasing a restricted residential property, please download and complete the approved form from our web site. You are required to submit the form together with the relevant supporting documents to:
Land Dealings (Approval) Unit
Singapore Land Authority
55 Newton Road
#12-01 Revenue House
What is restricted residential property under the Residential Property Act
A foreign person cannot acquire or purchase restricted residential property unless he obtains the prior approval of the Minister for Law. Such property includes:
vacant residential land;
landed property [i.e detached house, semi-detached house, terrace house (including linked house or townhouse)]; and
landed property in strata developments which are not approved condominium developments under the Planning Act.
What is non-restricted residential property under the Residential Property Act
A foreign person is not restricted from acquiring:
- any apartment within a building;
- any unit in an approved condominium development under the Planning Act; and
Note: A foreign person is not allowed to acquire all the apartments within a building or all the units in an approved condominium development without the prior approval of the Minister for Law.
- a leasehold estate in restricted residential property for a term not exceeding 7 years, including any further term which may be granted by way of an option for renewal.
The following properties are not under the purview of the Residential Property Act. Intended purchasers of these properties are advised to enquire directly with the Housing and Development Board (HDB) regarding their eligibility:
- An HDB flat purchased directly from HDB;
- A resale HDB flat where HDB has consented to the sale;
- An HDB shophouse; and
- An Executive Condominium purchased under the Executive Condominium Housing Scheme Act, 1996.
Is there any restrictions in renting a residential property with a land element?
There are however no restrictions in renting a residential unit with a land element.
Is there a restrictions in foreigners buying commercial or Industrial property type?
No there are no restriction in foreigners buying commercial or industrial properties in Singapore.
Our AREA advisors are readily available to answer all your questions and facilitate that all important real estate decision, so just drop us an email at email@example.com or give us a call at +65 61003876.
Watch out for our latest e-book on foreigner’s investment guide that will be launched end 2014!
Till then you explore the following link for the official guide to investing in Singapore.