I am looking to purchase in Hillcrest Villa, but am very confised about what I can, cannot do. I am a foreigner (british) working in Investment Banking with a P1 work permit, and need to understand if cluster housing is different to landed property regulations ?
1. Can a foreigner with work permit buy cluster housing for their own residence? (usually only PR can buy landed)
2. If so, if the foreigner leaves Singapore, can the cluster housing be rented out as an investment while me (the foreigner owner) maybe living outside of Singapore ?
> The answers for condos is easy, it is yes and yes. Same for landed, it's no and no.
3. Final question, if I take PR can I rent out the hillcrest villa cluster house ? (even with PR I believe this cannot be done with landed).
If I can get the above clarified I am very keen to purchase in Hillcrest Villas.
Thank you for taking the time to reply.
Fred
Posted by Fred Jones on Nov 30, 2008 in Home Buying | 2062 Views
Latest Answers by Real Estate Professionals (2 Answers)
Answer Posted on Dec 1, 2008
Dear Fred,
Please find the reply to your questions listed below,just drop me a call or email if you need any property advice.
1. A foreigner with work permit are not allowed to buy cluster housing as it fall into same group as landed property,
Which is under the Residential Property Act in 1974
2. with reference to the answer above it is a no
3. the answer is also no
With your questions above it show that you are very well versed with regard to foreigner purchasing of properties in Singapore
With regards
Marcus Ng
93274485
marcusnggroup@gmail.com
Please find the reply to your questions listed below,just drop me a call or email if you need any property advice.
1. A foreigner with work permit are not allowed to buy cluster housing as it fall into same group as landed property,
Which is under the Residential Property Act in 1974
2. with reference to the answer above it is a no
3. the answer is also no
With your questions above it show that you are very well versed with regard to foreigner purchasing of properties in Singapore
With regards
Marcus Ng
93274485
marcusnggroup@gmail.com
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