Can foreigners buy property in Singapore?

Discussion in 'Singapore property' started by totallyproperty, May 24, 2014.

  1. totallyproperty

    totallyproperty Administrator Staff Member

    The situation regarding foreigners buying property in Singapore is slightly complicated because there are restrictions on what you can and cannot buy. Indeed approval is required from the Land Dealings Unit if looking to purchase residential property and some types of property are at the moment out of bounds for foreign investors.

    The authorities have brought in an array of restrictions to assist Singapore investors looking at acquiring residential, commercial and other types of property. Do you have any experience of buying property in Singapore?
     
  2. janice5913

    janice5913 New Member

    Foreigner are eligible for commercial real estate, but for residential property, there are more rules and restriction to follow.
     
  3. Ferdrick

    Ferdrick New Member

    My opinion it's better you can buy freehold property in Singapore. there are no restrictions for freehold property and you will feel like as your own property.
     
  4. pis

    pis New Member

    if you are a foreigner who want to leverage a bank loan to buy a private property, then you need to consider the extra stamp duty and the impact of the govt's cooling measures
     
  5. strongman92

    strongman92 New Member

    Foreigner is able to buy private residential apartment and commercial property in Singapore. There is no restriction in this segment.
     
  6. pis

    pis New Member

    just have to watch out for the cooling measures in placed by singapore government
     
  7. dasimond

    dasimond Member

    Foreigner is eligible to purchase non-landed property in Singapore. There will be an Additional Buyer Stamp Duty in short is call ABSD of 15% on top of the normal stamp duty which can be 3% less S$5400 for property above S$360k.

    If the foreign buyer is not working in Singapore, the loan amount vary depends on the individual which usually the max amount can be 70%. Therefore it is good to speak to a local banker before making any purchase.
     
  8. dasimond

    dasimond Member

    By the way, citizen from the following 5 country will get to enjoy the same privilege as the local when making a purchase of property in Singapore.

    1) USA
    2) Norway
    3) Iceland
    4) Liechtenstein
    5) Switzerland

    Happy buying if you are from the above 5 country.
     
  9. Exclusive Condo

    Exclusive Condo New Member

    Well there is a rise in Singapore’s Business Economy. Foreign investors are all coming back for development in Singapore
     
  10. nmb

    nmb Well-Known Member

    Does anyone have a link to the average price of residential property in Singapore and how it has performed over the years?
     
  11. Exclusive Condo

    Exclusive Condo New Member

    http www straitstimes.com/business/property/property-prices-to-rise-10-by-end-2018-report

    There is no average psf, it still depends on the location. And based on the above link, Property prices are rising soon in Singapore
     
  12. asia

    asia New Member

    The Singapore Government had made the adjustments to the Additional Buyer’s Stamp Duty (ABSD) rates to cool the property market and keep price increases in line with economic fundamentals. So right now the local and foreigner will have to pay more to purchase residential developments.
    Basically it has raise ABSD by 5%-points for all other individuals; and raise ABSD by 10%-points for entities.
     
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