An Overview Of Singapore’s Regulations For Expats Who Want To Own Homes In The Country

Expatriates may discover staying in a hotel room for the entire duration of their stay in Singapore to be a very costly quandary. If a foreigner possess a residential property in Singapore, the costly problem would have been avoided.

In Singapore, foreigners are not prevented by government officials from acquiring their own residential properties.

The Residential Property Act of Singapore basically supports Singapore nationals in their acquisition of their own residential properties by offering affordable rates. Also, the act encourages foreign nationals who have made a significant contribution to Singapore’s economy to purchase residential properties in the city-state.

Even without any permits or sanctions from the Singapore government, an expatriate may acquire non-restricted residential properties. The following are residential properties that belong to the non-restricted class:

- apartment units within a building that is not over 6 floors in height - condo units in authorized condominium development properties under the Planning Act - a lease contract on a restricted property; the contract should not exceed seven years

A foreigner may desire to own all units in an apartment or condominium; however, before he or she can accomplish this, Singapore’s Minister of Law must issue an official sanction.

Furthermore, an expat who wishes to buy residential properties that are classified as restricted cannot do so without prior accreditation from Singapore’s Minister of Law.

Under the Residential Property Act of Singapore, the following are classified as restricted residential properties:

- a vacant residential land - town houses, detached or semi-linked homes, or terraced houses standing on residential lots - lands not authorized for condo development under the Planning Act

The expatriate who plans to own a restricted residential property must fill out a form and then send this, along with the requisite supporting papers, to the Singapore Land Authority. This government agency is responsible for receiving the requests of the foreigner regarding the purchase of a restricted residential property. The agency will appraise and approve or disapprove the application, depending on the merits of the expatriate’s qualifications.

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