Can Foreigners Buy Property in Singapore?
Yes, foreigners can buy private condominiums in Singapore. The Residential Property Act restricts the purchase of landed properties (like bungalows or terrace houses) without government approval, but condominiums are fully open to foreign buyers.
Unlike HDB flats or executive condominiums (ECs), which come with ownership restrictions, private condos are the go-to choice for international investors.
Types of Condos Foreigners Can Buy
Foreigners can purchase:
Completed private condominiums
New launch projects (off-plan condos)
Resale condos in the open market
There are no limitations on location or price for foreigners buying private condos.
Key Benefits of Condo Investment in Singapore
1. Capital Appreciation
Singapore property values have a history of steady growth. With limited land supply and high demand, prices tend to appreciate over the long term.
2. Rental Yield
Condos in popular districts (like District 9, 10, 15, and the upcoming Pasir Ris EC area) generate attractive rental income, especially among expats and professionals.
3. Legal Protection
Singapore’s legal framework ensures clear property ownership titles, transparency, and protection for foreign investors.
4. Strong Currency Stability
The Singapore Dollar (SGD) is one of the strongest and most stable currencies in the region, adding a layer of security to your investment.
Popular Condo Areas for Foreign Investors
✅ Orchard and River Valley (District 9)
Luxury condos, high-end lifestyle, premium rental market.
✅ Bukit Timah & Holland Village (District 10)
Known for international schools, greenery, and upscale homes.
✅ East Coast (District 15)
Close to beaches, food havens, and the airport—ideal for renting out to expats.
✅ Pasir Ris and Tampines
Emerging eastern regions, offering value buys and excellent connectivity.
Don’t miss out on new projects like Boulevard Coast EC which are poised for future growth in the Jalan Loyang Besar area.
Taxes and Fees for Foreign Buyers
Here are some additional costs foreigners need to be aware of:
Buyer’s Stamp Duty (BSD)
1% to 4% depending on property price.Additional Buyer’s Stamp Duty (ABSD)
Foreigners pay 60% ABSD as of 2024 unless exempt (e.g. U.S. citizens under FTA).Legal Fees
Usually around S$2,500–S$5,000 depending on your lawyer.Maintenance Fees
Monthly condo maintenance typically ranges between S$200–S$500.
Financing Options for Foreigners
Foreigners can obtain housing loans from local banks, though the Loan-to-Value (LTV) limit may be lower compared to Singaporeans. Generally:
Up to 75% loan for first property
Proof of income and good credit history is essential
Interest rates are competitive (typically 3% to 4%)
You may need to open a local bank account and provide documents like:
Passport
Proof of overseas income
Tax returns or bank statements
Step-by-Step Condo Buying Process in Singapore
1. Engage a Licensed Property Agent
Look for agents familiar with foreign investment and the Singapore condo market.
2. Get Financial Pre-Approval
Know your budget, including taxes and legal fees.
3. Shortlist and View Properties
Consider proximity to MRT, schools, amenities, and future development plans.
4. Make an Offer and Sign the OTP (Option to Purchase)
Typically, you’ll pay 1% of the purchase price as a booking fee.
5. Exercise the OTP and Pay 4% More
Once confirmed, pay the remainder of the 5% deposit.
6. Pay Stamp Duties
This includes BSD and ABSD, which must be paid within 14 days of OTP exercise.
7. Legal Completion
This usually takes about 8–12 weeks. Once done, the property is officially yours.
Is It Still Worth It Despite the High ABSD?
While the 60% ABSD might seem like a big barrier, savvy investors focus on long-term capital appreciation and strong rental yields. In areas of future development like Jalan Loyang Besar, new projects such as Boulevard Coast EC are ideal for foreigners looking for growth potential.
Tips for a Successful Condo Investment
Look beyond Central Singapore.
Fringe regions often offer better yields and entry prices.Buy near future MRT lines or new malls.
Infrastructure boosts property value.Stay updated on cooling measures.
Government regulations impact taxes and eligibility.Consider engaging a conveyancing lawyer familiar with cross-border property transactions.
Final Thoughts
Singapore continues to be a top-tier destination for condo investments by foreigners. The process is transparent, legally safe, and the market is resilient. Despite higher upfront taxes, the returns over the long term can be substantial—especially if you choose the right property.
Whether you’re looking for a luxury unit in Orchard or an affordable growth area like Pasir Ris, explore new developments such as Boulevard Coast EC to get started with your condo investment journey in Singapore.
