foreigner buying property in Singapore

[nanana]

Just wonder if a foreigner is allowed to own residential property in Singapore (i.e private condo)?

I'm a PR, looking at the possibility to invest in the private property market in the near future. However, I am also considering to migrate to another country (and renounce my SG PR) if things are not going well overhere.
Just wish to know if I'll still be able to keep the property when I no longer a SG PR? The reason is because I have a S'porean son, and he will need to be back for his NS service when the time comes (yeah...sill need to go through those NS sticky pages!). So, keeping the property will be an investment for us, and also a place for him to stay when he is back for his duty.

[sundaymorningstaple]

Not a problem. You can also rent it out if you desire and pay taxes here on the rental income. In fact, I act as a clearing house for a friend here who owns a condo here but took up a 3 year contract in Indonesia who did just that 2 years ago. You don't even need PR to buy here, but the charges have been upped considerably for foreigners to purchase here so you might want to investigate the cost of purchasing a unit here. I bought 16 years ago, and paid it off last year so I'm not really up to date on the new costs involved.

[JR8]

Not a problem. You can also rent it out if you desire and pay taxes here on the rental income. In fact, I act as a clearing house for a friend here who owns a condo here but took up a 3 year contract in Indonesia who did just that 2 years ago. You don't even need PR to buy here, but the charges have been upped considerably for foreigners to purchase here so you might want to investigate the cost of purchasing a unit here. I bought 16 years ago, and paid it off last year so I'm not really up to date on the new costs involved.

http://www.iras.gov.sg/irasHome/page04.aspx?id=12818

[ecureilx]

It covers what properties foreigners/expats can buy, and the limitations they might face in owning a property in Singapore.

2 years later .....