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Can a Foreigner purchase a Landed Property in Singapore ?

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roysingh
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Can a Foreigner purchase a Landed Property in Singapore ?

Postby roysingh » Sat, 11 Feb 2012 6:22 pm

Hi Everyone,

I'm new here so please kindly forgive me if I posted this question in the wrong forum...

I'm trying to find out some information here regarding buying property in Singapore... Is it possible for a foreigner to buy Landed property (such as House, Bungalows, etc) in Singapore... Some information regarding this is much appreciated.

Thx in advance... :)

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x9200
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Postby x9200 » Sat, 11 Feb 2012 8:20 pm

http://www.singaporeexpats.com/guides-f ... rchase.htm

(You could have easily found this info using the search function)

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roysingh
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Postby roysingh » Sat, 11 Feb 2012 8:39 pm

x9200 wrote:http://www.singaporeexpats.com/guides-for-expats/procedure-for-purchase.htm

(You could have easily found this info using the search function)


Thanks for your reply... I did check that link previously and I also checked the SLA and got this info ;

Link - http://www.sla.gov.sg/htm/ser/ser0306.htm

What is restricted residential property under the Residential property Act ?
A foreign person cannot acquire or purchase restricted residential property unless he obtains the prior approval of the Minister for Law. Such property includes:

a. vacant residential land;
b. landed property [i.e detached house, semi-detached house, terrace house (including linked house or townhouse)]; and
c. landed property in strata developments which are not approved condominium developments under the Planning Act.


So after reading that info I need to find out what criteria of Foreigners that could Apply to the Minister of Law for the permission to buy Restricted property such as Landed Houses...

Iny info on this would be very helpful... :)

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Postby sundaymorningstaple » Sat, 11 Feb 2012 10:27 pm

It's just like applying for an EP or for PR. Nobody know exactly what the point spread is like. The gahmen hold their cards very close to their collective chests, and rightly so. Otherwise the country would be inundated with tailor made applications for everything under the sun.

The biggest criteria is that you are a foreigner, and you are forbidden to rent it out unless certain criteria are also met. Codicil after codicil. But, yeah, it can be done by mortals.

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roysingh
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Postby roysingh » Sat, 11 Feb 2012 10:48 pm

I did get some info from a "not so reliable" source that the criteria is ;

Approval from SLA may be granted only if you belong to any of those categories:
- a foreigner who is a Permanent Resident
- a foreigner who can provide economic benefits to Singapore (read: investor)
- a foreigner who masters qualifications or experience which are considered benefiting or advantageous to Singapore.


But I'm still trying to find more info from a more reliable source... I did email the SLA but haven't received any replies from them yet...

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Postby beppi » Sat, 11 Feb 2012 11:43 pm

The keyword here is "may be granted".
Basically, if Singapore wants you, they will bend over backwards.
I know PRs who have been rejected.

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roysingh
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Postby roysingh » Sun, 12 Feb 2012 12:16 am

beppi wrote:The keyword here is "may be granted".
Basically, if Singapore wants you, they will bend over backwards.
I know PRs who have been rejected.


OK Thanks for your input.. So what you'e actually saying is that it's very difficult (slim chances) for a foreigner even a PR to get the permission ... right ?

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Postby sundaymorningstaple » Sun, 12 Feb 2012 12:28 am

No. What we are saying is that there are no cut & dried, carved in stone, guidelines for gaining permission to buy landed property. We only have anecdotal evidence to go by.

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Postby beppi » Sun, 12 Feb 2012 12:35 am

I am just saying that PR alone seems not enough.
I know more that were rejected than granted, but that handful of people are certainly not representative.
Indications are that, besides having money and marketable skills, a Singaporean wife and kids help.

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Postby the lynx » Sun, 12 Feb 2012 12:50 am

I guess the line 'subject to approval at discretion' speaks loudly by itself.

Like what SMS said, there's no sure way of knowing the exact buttons to push on the government to get your way. All guidelines mentioned are merely the minimum requirements. There are more factors involved but only the people up there knows and decides about...

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roysingh
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Postby roysingh » Sun, 12 Feb 2012 1:21 am

Ok Thx guys for all your inputs... I appreciate it...

The more inputs and views I can gather will be greatly helpful for me.. :)

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Postby zzm9980 » Sun, 12 Feb 2012 10:28 am

roysingh wrote:
beppi wrote:The keyword here is "may be granted".
Basically, if Singapore wants you, they will bend over backwards.
I know PRs who have been rejected.


OK Thanks for your input.. So what you'e actually saying is that it's very difficult (slim chances) for a foreigner even a PR to get the permission ... right ?


Emirati hotel tycoons get approved. I would suggest as a rule of thumb if you can't easily buy the house outright, you probably won't get approved. And in those cases, I'd suspect you'd be asking your lawyer on retainer and not an Internet forum for advise. :)

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Postby Strong Eagle » Sun, 12 Feb 2012 10:54 am

My view is this.

a) If you are a PR of many years, and for all intents, your company will not be transferring you, that is, Singapore is your permanent home base, then you have a point in your favor.

b) If you are in an executive or managerial role, with the income sufficient to support an expensive landed property, then assuming you meet a), you get another point.

c) If you happen to be working for a MNC that provides lots of local jobs, then you get another point.

d) If you have started and are operating a successful business that pays taxes and hires locals then you definitely get a point, maybe two.

On the other hand,

a) If you are only EP, forget about it.

b) If you are PR and your kids are not, forget about it.

c) If you have moved a bunch before Singapore, forget about it.

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Postby teck21 » Sun, 12 Feb 2012 4:28 pm

I think when it comes to foreigners buying landed property, the option-to-purchase usually includes an extra clause that allows to buyer to pull out of the transaction with no penalty if approval cannot be granted for the purchase.

I'm not totally certain, but I think it's there.

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roysingh
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Postby roysingh » Sun, 12 Feb 2012 11:24 pm

Whoa the process to buy a landed property in SG is quiet difficult ya...

I suppose foreigners are better off buying condo's ?


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