How to Buy Property in Singapore- Buying property in Singapore as a foreigner can feel complicated, but with the right knowledge, the process becomes much easier. Singapore has one of the most stable and lucrative real estate markets in Asia, making it an attractive destination for international buyers and investors. However, there are specific rules, eligibility criteria, and steps that foreigners must follow.
In this blog, we’ll walk through the key points you need to know before purchasing property in Singapore.
Property Types Foreigners Can Buy in Singapore
Not all properties are open to foreign buyers. The government has restrictions to maintain housing affordability for locals. Here’s what you should know:
- Private Condominiums – Foreigners can freely purchase private condos without restrictions.
- Executive Condominiums (ECs) – Foreigners can buy ECs only after they are 10 years old and fully privatised.
- Landed Properties – Foreign ownership is restricted and requires approval from the Singapore Land Authority (SLA).
- HDB Flats – Foreigners cannot buy new or resale HDB flats unless they are Singapore Permanent Residents married to a citizen.
Eligibility & Approval Process
Foreigners must apply for permission when buying restricted properties (like landed homes). The application is made to the Singapore Land Authority (SLA). Approval is not guaranteed, as it depends on factors like your residency status, economic contribution, and intended use of the property.
Key Costs Involved
When purchasing property in Singapore, foreigners should budget for more than just the property price. Major costs include:
- Buyer’s Stamp Duty (BSD): Payable on all property purchases.
- Additional Buyer’s Stamp Duty (ABSD): Foreigners generally pay 60% ABSD on property value.
- Legal Fees: For conveyancing and contracts.
- Maintenance Fees: Monthly condo or development charges.
Step-by-Step Process for Foreign Buyers
Research the Market
Start by studying different districts in Singapore to compare property prices, demand trends, and rental yields. Areas like Orchard, Marina Bay, and Sentosa attract luxury buyers, while suburbs like Tampines or Woodlands may offer better rental returns. Understanding the market helps you align your purchase with your financial goals.
Check Eligibility
Foreigners are generally allowed to buy private condos and apartments, but restrictions apply to HDB flats, executive condominiums, and landed houses. Always confirm with the Singapore Land Authority (SLA) whether the property type you’re interested in is available to you.
Engage an Agent & Lawyer
Hiring a licensed property agent makes it easier to shortlist suitable properties, negotiate prices, and handle documentation. At the same time, a conveyancing lawyer ensures all contracts, taxes, and legal requirements are met without delays or surprises.
Obtain Financing
Foreign buyers usually face stricter financing rules. Banks may require a higher down payment (typically 25–40%) and proof of overseas income. It’s best to get an in-principle approval from a bank before making an offer to avoid complications later.
Make an Offer
Once you’ve selected a property, you’ll sign an Option to Purchase (OTP) agreement with the seller. At this stage, you’ll also pay a small option fee (usually 1% of the purchase price) to secure the property for a fixed period, giving you time to finalize financing and legal checks.
Finalize Purchase
After exercising the OTP, you’ll pay the remaining down payment, Buyer’s Stamp Duty (BSD), and Additional Buyer’s Stamp Duty (ABSD) if applicable. Your lawyer will help complete the paperwork, ensuring the property title is legally transferred to you. The entire process usually takes 8–12 weeks from offer to completion.
Why Consider New Developments?
Newly launched condominiums and showflats are popular among foreigners because they offer:
- Modern designs and premium facilities
- Strong rental demand from expats
- Higher appreciation potential
- Hassle-free transactions compared to resale properties
One such development worth exploring is the Coastal Cabana Showflat, which offers a glimpse into a stylish, modern lifestyle in Singapore’s prime district.
Final Thoughts
Buying property in Singapore as a foreigner can be a rewarding investment if you understand the regulations and financial responsibilities. Focus on private condominiums or upcoming showflats to avoid restrictions and enjoy long-term capital growth. With careful planning and the right guidance, you can own a piece of Singapore’s thriving real estate market.
