FAQ

Here are some of the top property trends in Singapore:

1. Integrated developments: These are mixed-use developments that combine residential, commercial, and/or retail spaces in one complex. They offer convenience and accessibility to amenities and have become increasingly popular in Singapore.
2. Smart homes: Technology is becoming more integrated into homes, with features like smart home automation systems, digital locks, and voice-controlled devices becoming more common.
3. Sustainable living: There is a growing focus on sustainable living, and developers are incorporating green spaces, eco-friendly features, and energy-efficient systems into their properties.
4. Co-living spaces: With the rising cost of living, co-living spaces are becoming more popular among young professionals and expats. These shared living spaces offer more affordable options and foster a sense of community.
5. Virtual viewings: With the pandemic, virtual viewings have become more prevalent, and more property developers and agents are offering virtual tours of properties to buyers and renters.
6. Work from home spaces: With more people working from home, there is a growing demand for homes with dedicated workspaces or home offices.

These trends are expected to continue shaping Singapore's property market in the near future, as developers and buyers adapt to changing needs and preferences.

At present, the properties available for foreigner purchase in Singapore include:

1. Private condominiums: These are a popular choice among foreign buyers due to their wide availability and few restrictions.
2. Strata landed houses within approved condominium developments: Such properties have limited supply and are typically found in older estates.
3. Commercial properties: Properties that are intended for business use, such as office buildings or retail spaces.
4. Landed properties situated on Sentosa Cove or has a leasehold estate for a period of seven years or less, including any extension granted through a renewal option.

There are certain restrictions for foreigners when buying a landed property on the main island of Singapore. They will need to write to the Land Dealings Approval Unit (LDAU) when looking to purchase the following:

• Vacant residential land
• Terrace house
• Semi-detached house
• Bungalow/detached house
• Strata landed house which is not within an approved condominium development under the Planning Act (e.g. townhouse or cluster house)
• Shophouse (for non-commercial use)

In addition, there are certain restrictions and regulations that apply to foreign property ownership in Singapore. For example, the government imposes additional taxes and fees on foreign buyers.

Foreigners who become permanent residents (PRs) in Singapore are eligible to purchase public housing such as resale flats and Executive Condominiums (ECs). However, these purchases are subject to income caps and restrictions based on marital status and overseas property ownership. For more information on eligibility requirements, you can refer to the Housing and Development Board's website.

In Singapore, some of the most popular types of properties among foreign buyers include:

1. Condominiums: Condos are popular due to their convenience, luxurious amenities, and prime locations.
2. High-end landed properties: Foreign buyers often prefer high-end landed properties such as bungalows and semi-detached houses, which are spacious and provide a sense of privacy.
3. Commercial properties: Some foreign investors purchase commercial properties, such as office buildings and retail spaces, for investment purposes.
4. Properties in prime locations: Properties located in prime areas, such as central business districts and upscale residential neighborhoods, are popular among foreign buyers due to their proximity to key amenities and attractions.

In Singapore, property taxes for foreign individuals purchasing real estate are called Additional Buyer's Stamp Duty (ABSD) and are levied on top of the standard Buyer's Stamp Duty (BSD). Since Apr 2023, the ABSD rate for foreign individuals is currently at 60% of the property's purchase price or market value, whichever is higher. It is important to note that there are exemptions and reductions available for some cases. For example, if the foreign individual is purchasing a property for the first time, they may be eligible for ABSD remission.

Additionally, there is an annual property tax in Singapore, which is calculated based on the property's annual value. The annual value is assessed by the Inland Revenue Authority of Singapore (IRAS) and is based on the expected rent that the property could fetch if it were to be rented out. The property tax rate is determined based on the annual value, with a range of 0.03% to 0.20%.

The process of purchasing property in Singapore as a foreigner can be broken down into the following steps:

1. Research and Pre-approval: Before you start your search, it's a good idea to get pre-approved for a mortgage and familiarize yourself with the Singapore property market. You can work with us to get an idea of your budget and what kind of property you can afford.
2. Property Search: Once you have a good understanding of your budget and what you are looking for, you can start your property search. 
3. Offer and Negotiation: If you find a property that you like, you will make an offer to the seller. We can assist you in negotiating the price and other terms of the sale.
4. Signing of Sale and Purchase Agreement: Once you have reached an agreement with the seller, you will sign a Sale and Purchase Agreement. This agreement outlines the terms of the sale, including the purchase price, the payment schedule, and any contingencies.
5. Apply for Loan: If you are financing your purchase with a loan, you will need to apply for a mortgage. You will need to provide financial and personal information, including your employment and income history, to the lender.
6. Obtain Approval in Principle: Once you have applied for a loan, you will receive an Approval in Principle. This means that the lender has approved your loan based on the information you have provided, subject to final loan approval.
7. Sign Loan Agreement: If you are approved for a loan, you will sign a loan agreement with the lender. This agreement outlines the terms and conditions of your loan, including the interest rate, repayment period, and other loan-related fees.
8. Complete Purchase: Once the loan agreement has been signed, you can complete the purchase. You will pay the balance of the purchase price, and the seller will transfer ownership of the property to you

The buyer stamp duty for property purchase in Singapore by foreigners is similar to a Singapore citizen that is a tax that must be paid to the Inland Revenue Authority of Singapore (IRAS) as part of the purchase process. The buyer stamp duty rate is based on the purchase price of the property and it must be paid within 14 days of the signing of the Sale and Purchase Agreement.

For residential properties, the stamp duty rate is calculated based on a progressive scale, as follows:

1. For the first SGD 180,000 of the purchase price: 1%
2. For the next SGD 180,000: 2%
3. For the next SGD 640,000: 3%
4. For the next SGD 500,000: 4%
5. For the next SGD 1,500,000: 5%
6. For the remaining amount above SGD 3,000,000: 6%

For example, if you purchase a property for SGD 500,000, the stamp duty would be calculated as follows:

1. SGD 180,000 x 1% = SGD 1,800
2. SGD 180,000 x 2% = SGD 3,600
3. SGD 140,000 (the amount above SGD 360,000) x 3% = SGD 4,200

So, the total stamp duty would be SGD 1,800 + SGD 3,600 + SGD 4,200 = SGD 9,600.

It's important to note that these are the general stamp duty rates for residential properties. There may be additional fees or taxes that apply to your specific case, depending on the type of property, its location, and other factors.

It's a good idea to seek professional legal or tax advice to ensure that you are aware of all the fees and taxes associated with the purchase of property in Singapore, including the stamp duty. This can help you to plan for the total cost of the purchase and ensure that you are in compliance with all the necessary regulations

The loan process for foreign property buyers in Singapore is similar to the loan process for local buyers, with some additional considerations.

1. Eligibility: Foreigners who wish to take out a loan to purchase a property in Singapore must meet the eligibility criteria set by the financial institution. This typically includes a minimum income requirement, a good credit history, and proof of stable employment or business.
2. Loan Application: Foreign property buyers can apply for a loan through a local bank or financial institution. They will need to provide information on their financial status, including income, employment, and assets, as well as information on the property they are looking to purchase.
3. Loan Approval: Once the loan application is submitted, the financial institution will evaluate the applicant's financial situation and creditworthiness to determine if they are eligible for a loan. If the loan is approved, the financial institution will provide the loan terms, including the loan amount, interest rate, and repayment schedule.
4. Loan Documentation: The loan agreement and other loan-related documents will be prepared by the financial institution and must be signed and stamped by the borrower. These documents set out the terms and conditions of the loan and the borrower's obligations.
5. Loan Disbursement: Upon completion of the loan documentation, the loan amount will be disbursed to the borrower. The loan disbursement will typically be made in two stages: the first stage is the disbursement of the down payment, which is used to pay the deposit for the property purchase; the second stage is the disbursement of the balance loan, which is used to pay the balance of the purchase price.
6. Loan Repayment: The borrower must make regular repayments on the loan in accordance with the repayment schedule set out in the loan agreement. The repayments typically consist of principal and interest, and the loan must be fully repaid by the end of the loan term

Yes, there are several special considerations for foreigners purchasing property in Singapore, including:

1. Restrictions on foreign ownership: Foreigners are subject to certain restrictions on their ability to purchase property in Singapore, such as restrictions on the type of property that can be purchased and the number of properties that can be owned.
2. Property taxes: Foreigners are required to pay property taxes on any properties they own in Singapore. The amount of tax payable will depend on the value of the property and the buyer's tax residency status.
3. Currency exchange considerations: Foreigners who are purchasing property in Singapore will need to consider the exchange rate between their home currency and the Singapore dollar. It is important to consider the potential impact of currency fluctuations on the cost of the property and the loan repayment.
4. Financing options: Foreigners may face additional restrictions on their ability to secure financing for a property purchase in Singapore. They may need to provide additional information and documentation to prove their financial status and creditworthiness.
5. Legal requirements: Foreigners must comply with all legal requirements when purchasing property in Singapore, including obtaining necessary permits and licenses and registering the property with the relevant authorities.
6. Property management: Foreigners who own property in Singapore may need to engage the services of a property management company to manage their property and handle rental and maintenance issues

The process for renting a property in Singapore as a foreign tenant is as follows:

1. Determine budget and location: The first step is to determine the rental budget and preferred location. This can be done by researching the rental market and consulting with real estate agents or online rental property platforms.
2. Search for properties: The tenant can search for properties through online real estate platforms, classified advertisements, or by engaging the services of a real estate agent.
3. View properties: The tenant should view the properties that meet their requirements and budget to determine if they are suitable.
4. Negotiate lease agreement: Once a suitable property has been found, the tenant should negotiate the terms of the lease agreement with the landlord. This agreement should include the rental rate, lease period, security deposit, and any other terms and conditions.
5. Sign lease agreement: The lease agreement should be signed by both parties and stamped by the Inland Revenue Authority of Singapore (IRAS).
6. Pay security deposit and rent: The tenant should pay the security deposit and rent as agreed in the lease agreement.
7. Register lease agreement: The lease agreement should be registered with the IRAS and a copy should be kept by both parties.
8. Move in: The tenant should move into the property and commence the tenancy on the agreed start date.

The rental market in Singapore is competitive, with a large pool of both local and foreign tenants seeking rental properties. The demand for rental properties is driven by the city-state's strong economy, high standard of living, and reputation as a hub for international business and finance.

Rental prices in Singapore vary depending on the location, type of property, and level of furnishings. Properties located in central areas, such as the Central Business District (CBD) and Orchard Road, tend to command higher rents compared to those located in suburban areas. Rental prices for apartments and condominiums are generally higher than for landed properties. Furnished properties also typically command higher rents than unfurnished properties.

Despite the competition, the rental market in Singapore remains favorable for both local and foreign tenants, with a wide range of properties available at various price points. As a foreign tenant, it is important to research the rental market, consult with real estate agents, and engage the services of a rental property management company to ensure that you are fully informed of the rental market conditions and are able to secure a rental property that meets your needs and budget

As a foreign tenant in Singapore, you will typically be required to provide the following documents:

1. Passport and visa: You will need to provide a copy of your passport and visa to prove your identity and eligibility to rent a property in Singapore.
2. Employment Declaration Form: This form is used to declare your employment status and salary. The form must be signed and stamped by your employer.
3. Letter of Employment from employer: This letter from your employer should confirm your employment status, salary, and length of employment.
4. Bank statement: A recent bank statement may be required to demonstrate your ability to pay rent.
5. Proof of income: You may also need to provide proof of income, such as a payslip or tax return, to demonstrate your ability to pay rent.
6. Tenancy agreement: The tenancy agreement should be signed by both parties and stamped by the Inland Revenue Authority of Singapore (IRAS) before the tenancy commences. A copy of the stamped tenancy agreement should be kept by both parties.
7. Security deposit: You may be required to pay a security deposit, which is typically one or two months' rent. The security deposit is used to cover any damage to the property or unpaid rent at the end of the tenancy

As a foreign tenant in Singapore, there are several ways to protect your rights:

1. Read and understand the tenancy agreement before signing it. Make sure that it complies with the law and that you agree to all the terms and conditions.
2. Keep a record of all communication with the landlord or property agent, including emails and text messages.
3. Take photos of the property before moving in and after moving out, to have evidence of any damages that were already there or any damages that you did not cause.
4. Ensure that the landlord protects your security deposit by putting it in a Tenancy Deposit Scheme account, and request for a copy of the deposit certificate as proof.
5. If you encounter any problems with the property or the landlord, try to resolve the issue amicably through negotiation and communication. Seek help from relevant authorities, such as the Small Claims Tribunal, the Consumers Association of Singapore, or a lawyer if necessary.
6. Always keep a copy of your passport, visa and work permit with you, in case you need to provide proof of your identity or residency

Here is a list of popular schools in Singapore:

1. Nanyang Primary School
2. Raffles Institution
3. Hwa Chong Institution
4. Anglo-Chinese School (Independent)
5. National Junior College
6. St. Joseph's Institution
7. Singapore Chinese Girls' School
8. Nanyang Girls' High School
9. Methodist Girls' School
10. Raffles Girls' School (Secondary)
11. St. Andrew's Junior College
12. Dunman High School
13. Catholic High School
14. NUS High School of Mathematics and Science
15. Singapore American School
16. United World College of South East Asia (UWCSEA)
17. Tanglin Trust School
18. German European School Singapore
19. Australian International School
20. Canadian International School

Here are some popular residential areas with properties near some of the top schools in Singapore:

1. Bukit Timah: Located near many prestigious schools, such as Nanyang Primary School, Hwa Chong Institution, and National Junior College. The area is known for its high-end landed properties and private condominiums.
2. Novena: Located near Anglo-Chinese School (Barker Road), St. Joseph's Institution, and Singapore Chinese Girls' School. The area has a mix of private condominiums and landed properties.
3. Orchard Road: Located near many international schools, including Singapore American School, International School Singapore, and Chatsworth International School. The area is known for its luxury condominiums and high-end homes.
4. Holland Village: Located near many popular schools, including Henry Park Primary School, Anglo-Chinese School (Independent), and Fairfield Methodist School. The area has a mix of private condominiums and landed properties.
5. Marine Parade: Located near Tao Nan School, CHIJ Katong Primary, and Victoria Junior College. The area has a mix of private condominiums and landed properties, and is known for its proximity to East Coast Park.

It's worth noting that properties near popular schools tend to be in high demand and may come with a premium price tag. It's important to consider factors such as location, amenities, and transport links, as well as your budget, when choosing a property in these areas