• Estate Magnates

How To Get Your Singapore Home

Updated: May 28

So, you finally decided to call Singapore home. Welcome to city-state island of Singapore – home to the international elite such as billionaire Jim Rogers, Hai Di Lao’s founder Zhang Yong and even international celebrity Jackie Chan and who knows – maybe you!


Topping international ranks in safety, efficient public transportation and also its education system, it is no wonder why many families chose Singapore to settle and grow

However, how does one get started in settling down in this cosmopolitan city?


Of course, buying your own home would be an excellent start for your move to Singapore. That said, there are strict rules and regulations to abide in this sought-after location but fret not, the Estate Magnates are here to guide you through your journey.


You are considered a foreigner if you are not a Singapore citizen or Permanent Resident or any entity not incorporated in Singapore. Under the Residential Property Act, a foreigner can buy public housing or private property without approval from the Singapore Land Authority (SLA).

What You Can and Cannot Buy?


Public Housing


The public housing market falls under the purview of Singapore’s government housing authority - the Housing and Development Board (HDB). While the public housing market is generally catered for local residents, there are some flexibility given for foreigner eligibility.

Here are several property types that foreigners are eligible to buy:


1. A single non-Singapore Permanent Resident (SPR):

- A resale Executive Condominium (EC) that is more than ten years old


2. A single SPR

- A resale EC that is more than five to nine years old


3. A couple (both SPRs)

- A resale HDB flat

- A resale EC that is more than five to nine years old

- A resale EC that is more than ten years old


4. A couple (one SPR and a non-SPR)

- A resale EC that is more than five to nine years old

- A resale EC that is more than 10 years old


5. A couple (both non-SPRs)

- A resale EC that is more than 10 years old

- Private Property

- The private property market covers the private residential sector.


Private Housing


Given Singapore’s limited land availability for private properties, this market is listed as one of the priciest property investments internationally. However, with Singapore’s private property market appreciating year-on-year over the last few decades, an investment in this market is a coveted not to be missed. There are also lesser legal restrictions compared to the public housing market.


Here are the common property types that foreigners are eligible to buy:

· An apartment or condominium unit

· A strata-landed house in an approved condominium development

· A leasehold estate in a landed residential property for a term not exceeding seven years, including any further term which may be granted by way of an option for renewal

· A landed property on Sentosa Cove


Legal Matters


There are restrictions when buying a landed property on main island of Singapore. Approvals are given on a case-by-case basis for the following purchases:

· Vacant residential land

· Terrace house

· Semi-detached house

· Bungalow/detached house

· Strata-landed house which is not within an approved condominium development under the Planning Act (e.g. townhouse or cluster house)

· Shophouse (for non-commercial use)


Fret not again as your one-stop property solutions expert; Estate Magnates will administer all the necessary paperwork for you so that you can settle into your home with peace of mind.


So, What Now?


With exciting property developments announced in the pipeline such as the Greater Southern Waterfront, buying a property in Singapore is an opportunity not-to-be-missed. The future is bright for you and your family to invest in your Singapore home, so seize this opportunity now!


Drop us an email or text message NOW to +65 85119533 or +65 96329840 so that we can be your partner in your journey to your Singapore home.







The views, thoughts, and opinions expressed in the text belong solely to the author, and not necessarily to the author’s employer, organization, committee or other group or individual. The author does not accept any responsibility whatsoever for any harm or loss arising from accessing or relying on information contained in this blog post.

 

Let Us Help You Further

Real estate advice on the internet can be very general and might not be specifically applicable to your current situation. This is especially worrying due to the huge costs involved in every property investment.


Find out if the current direction you are heading towards is the right choice by making an appointment with our representatives.

+65 96329840

430 Lor 6 Toa Payoh
Singapore 319402

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