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What is the Condition for PR to buy house in Singapore?

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Ragav
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What is the Condition for PR to buy house in Singapore?

Postby Ragav » Sun, 07 Aug 2011 11:27 am

hi friends,

What is the condition or scheme to buy a house in Singapore?

If one person is PR (age35) and spouse non PR but have long term visa in this condition can buy house?

Thanks

therat
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Postby therat » Sun, 07 Aug 2011 12:06 pm

You only can buy private condo.

HDB.
Not allow.

Landed property.
The foreigners (refer to non-citizen. That's include PR) cannot buy landed property in Singapore but can buy at Sentosa. If they want to buy, must seek approval from authority from govt.dept

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sundaymorningstaple
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Postby sundaymorningstaple » Sun, 07 Aug 2011 12:29 pm

Can also buy in Singapore proper as well, but need to jump through hoops and have big investments here already. Also, not allowed to use it as rental property.

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Strong Eagle
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Postby Strong Eagle » Sun, 07 Aug 2011 1:57 pm

You would be required to apply for permission to buy a landed property (house or semi-detached). PR's are considered on a case by case basis, and the gahmen doesn't tell us much about the rules.

However, one can apply a bit of logic and come up with some reasonable conditions for being granted permission.

a) You have been here for quite some time, pay your taxes, and are otherwise a good immigrant.

b) You are running a business and/or if working for a company, you are here for the long term.

c) You've got kids in school, especially if male.

d) You have the salary and finances to support buying and maintaining a landed property.

e) You are using the property for personal use and not for rent or investment.

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Strong Eagle
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Postby Strong Eagle » Sun, 07 Aug 2011 1:58 pm

therat wrote:You only can buy private condo.

HDB.
Not allow.

Landed property.
The foreigners (refer to non-citizen. That's include PR) cannot buy landed property in Singapore but can buy at Sentosa. If they want to buy, must seek approval from authority from govt.dept


Not correct.

therat
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Postby therat » Sun, 07 Aug 2011 3:25 pm

Strong Eagle,

Which statement of mine is not correct?

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x9200
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Postby x9200 » Sun, 07 Aug 2011 3:27 pm

therat wrote:Strong Eagle,

Which statement of mine is not correct?


HDB.
Not allow.

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sundaymorningstaple
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Postby sundaymorningstaple » Sun, 07 Aug 2011 3:33 pm

therat is correct.

One PR and one LTVP cannot buy HDB. One PR and one citizen or two PR's can.

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Postby wkwoods » Mon, 08 Aug 2011 10:03 am

Talking about landed property, I can speak from experience having bought one about 5 years ago. You need to apply to the SLA and pay a fee. They will issue a permit valid for 6 months. If it takes longer than 6 months, you have to pay them another fee. You have to be a "family unit" of permanent residents with a "need" for the property i.e., typically both husband and wife as PRs so the TS is unlikely to qualify. You are also typically restricted to less than 15,000 sq ft to make sure foreigners don't snap up the Good Class Bungalows. After that you have to sign something commiting not to rent out the property and to sell it if you lose your PR.

Having said that there are exceptions. I know of super highly desired PRs who have been allowed to buy GCBs and even non PRs allowed to buy landed property. They are flexible and it depends on how much your presence contributes to Singapore.

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sundaymorningstaple
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Postby sundaymorningstaple » Mon, 08 Aug 2011 11:41 am

In two words......

Money talks. :wink:


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