Singapore has established itself as one of the most popular destination for property investment since early 90’s. Majority of the people who have invested in Singapore property from the earlier days have at least triple their wealth. One of the most common question ask among investor who are keen to invest in Singapore property is, Can foreigners buy property in Singapore? Foreigner is allowed to purchase Singapore property with some restriction.
Residential and commercial property
There are 2 different types of property for investment in Singapore: residential property and commercial property. There are several categories for each property type and foreigners are restricted to invest in some of the categories.
Residential property
Singapore residential property includes: HDB, Executive Condominium, Private Apartment and Condominium, and Landed house. HDB is the subsidized housing meant for Singaporean and Singapore PR only. Terms and conditions are applied for Singaporean and Singapore PR. Foreigner is definitely not allowed to own HDB. Executive condominium is a subsidized private condominium for Singaporean, Singapore PR is allowed to buy executive condominium only after 5 years the building is completed (MOP period) – also called semi privatized EC, Foreigner is allowed to buy executive condominium only after 10 years the building is completed.
There is no restriction for foreigner to own private apartment and private condominium in Singapore and there is no restriction on number of private apartment/condominium foreigner can own either.
Foreigner who have intention to purchase landed house In Singapore must seek government approval. The ownership is restricted to those who make adequate economic contribution to Singapore. You can apply online at http://www.sla.gov.sg/ldau/
Commercial property
Singapore commercial property includes but not limited to shop house, office, hotel, warehouse, factory, shopping mall, and many more. There is no restriction for foreigner who wish to purchase Singapore commercial property.