Even before your Singapore citizen application is approved, you being a permanent resident already have privileges in the Little Red Dot. One of the main reasons that many foreigners seek PR applications in Singapore is to become eligible to purchase certain types of property and save on property taxes. As one of the most expensive countries to live in, aspiring residential property owners spend years conducting research, financial planning, and other preparations to make the dream a reality.
Before discussing the various types of homes available to PRs, let us, your PR Application Agency, first discuss which properties are not available to PRs, non-residents, or foreigners.
What Singapore properties are restricted to PRs and foreigners?
Only Singapore citizens, Singapore companies, Singapore societies, and Singapore limited liability partnerships are permitted to purchase landed housing in the city-state without prior government approval under the Residential Property Act.
These are the properties that a foreigner must seek approval to purchase:
– Vacant residential land
– Terrace house
– Semi-detached house
– Bungalow/detached house
– Strata landed house (Townhouse or cluster house)
– Shophouse (for non-commercial use)
– Worker’s dormitory/serviced apartments/boarding houses that are not registered under the provisions of the Hotels Act.
– Place of worship
– Association premises
If you are a foreigner (PR or non-PR) looking to purchase any of the properties listed above, you will need to seek approval from Land Dealings Approval Unit (LDAU).
Can PR buy a landed property?
You can only get landed properties on the mainland if you have manual approval from the Singapore Land Authority (SLA) and have been a resident for at least 5 years.
Foreigners are not permitted to purchase any type of landed property on the mainland.
What Types Of Properties Can PR Buy In Singapore?
The following list highlights all of the properties that non-Singaporeans and foreigners can acquire without seeking prior approval from the relevant government authorities:
– Private condominium
– Flat unit
– Strata landed housing in an approved condominium project
– Landed housing in Sentosa Cove
– A leasehold estate in a landed residential neighbourhood for a term of no more than seven years, including any extension or renewal terms
– Shophouse (for commercial use)
– Industrial and commercial properties
– Hotel properties that have been registered under the Hotels Act
– Executive condominium/ HDB flat and HDB shophouse (subject to certain eligibility conditions and guidelines)
If you decide to become a Singapore PR and your application is approved, one of the benefits you will receive is the ability to purchase certain properties that non-PRs cannot.
A PR may purchase public housing if he or she meets the other criteria established by the Housing Development Board (HDB). Non-PRs are unable to purchase these HDB units.
What Happens To Your Property When You Are No Longer A PR Or Singapore Citizen?
All legal obligations (such as taxes and loans) will remain attached to the property. Property ownership in Singapore does not entitle you to any immigration benefits. If you are unable to enter Singapore due to immigration issues, you must appoint an attorney to manage your property and pay property taxes on your behalf. If you do not comply, your property may be repossessed.
However, if the property in question is HDB and you lose your PR status, it will be a problem, because HDB can only be owned by citizens and PR.
Conclusion
Purchasing real estate is a significant and exciting step, but navigating the system in a new country presents new challenges. When entering the Singapore property market, use this guide as a starting point — but don’t forget to seek assistance and advice for a stress-free buying experience.
Contact us if you want to become a PR and buy a home. We will assist you with your application.