Can foreigners buy property in Singapore?

T

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?
 
J

janice5913

New Member
Foreigner are eligible for commercial real estate, but for residential property, there are more rules and restriction to follow.
 
F

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.
 
P

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
 
S

strongman92

New Member
Foreigner is able to buy private residential apartment and commercial property in Singapore. There is no restriction in this segment.
 
P

pis

New Member
just have to watch out for the cooling measures in placed by singapore government
 
D

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.
 
D

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.
 
E

Exclusive Condo

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

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?
 
E

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
 
A

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.
 
G

gardnerren

New Member
Cooling measures are a good thing, at face value, it seems to deter the market. But if we look deeper, fundamentally, Singapore's property market is stable and has proven robust over the past 20 years.

Property prices have increased over 200% since 1999. And right now with the cooling measures, it deters away many investors, which means demand is going down. But supply is steadily increasing. To me this is the best time to enter, a rare opportunity when developers are pressed for time to sell, and buyers are afraid to enter.

There are a few good buys in the market right now, we need to be careful, as not all properties are the same.
 
L

Longterminvestor

Administrator
From what I have read, the Singapore property market seems to be one of the best regulated in the Far East. Interesting to see the UK was not on the list of five nationalities given preferential treatment.
 
L

Longterminvestor

Administrator
How do mean, encouraged to buy? It seems that governments only encourage foreign investment when domestic markets are struggling?
 
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