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

Foreigners in Singapore discover that it is truly expensive to rent a hotel room when they plan to stay for a considerable amount of time in the country. If a foreign national possess a residential property in Singapore, the costly problem could have been avoided.

The Singapore administration does not prevent foreigners from purchasing or owning residential properties in the country.

Essentially, the Residential Property Act of Singapore encourages Singapore citizens to acquire residential properties in the country at reasonable rates. Furthermore, the Act enables expatriates who are acknowledged by the government to be capable of of contributing to the financial success of the city-state to purchase residential properties in Singapore.

Even without any licenses or sanctions from Singapore government officials, a foreigner may acquire non-restricted residential properties. Non-restricted residential properties are described as any of the following:

- apartment units within a structure that is not more than 6 floors in height – condo units in authorized condo development sites included in the Planning Act – a lease agreement on a restricted residential property; the term must not exceed 7 years

Foreign nationals who wish to acquire all units in an apartment or condominium in an accredited development site should have prior approval from Singapore’s Minister for Law.

In the same vein, a foreign national cannot purchase or acquire residential properties that are classified as restricted not unless he or she has been granted an approval by Singapore’s Minister for Law to acquire any such residential property.

The following are categorized as restricted residential properties by the Residential Property Act of Singapore:

- a vacant residential lot – townhouses, separate or semi-linked homes, or terraced houses standing on residential lands – lots not approved for condo development under the Planning Act

In applying for approval to be able to own a restricted residential property, the foreign national must fill out a form and, together with the required supporting papers, send this to the Singapore Land Authority. The Singapore Land Authority is responsible for evaluating and approving the merits of an expatriate whether he or she will be eligible to acquire a restricted residential property.

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