Yes, foreigners are allowed to buy certain types of properties in Singapore but are subject to a 20% Additional Buyer's Stamp Duty (ABSD) for any property purchase. Specifically, you can only buy a private property in Singapore and not an HDB flat as these are subsidised housing meant for Singaporeans. However, you may be eligible to buy a resale HDB flat where HDB has consented to the sale and an HDB shophouse.
In the private property market, you can only buy a private condominium or an executive condo after the 10th year of its Minimum Occupation Period (MOP).
You are allowed to buy both landed parcels and completed bungalows at Sentosa Cove. You will need to seek approval from the Land Dealings (Approval) Unit which will grant you an express approval within 2 days. The landed property must be for your own occupation, you cannot own more than one landed property in Singapore and you are not allowed to resell your Sentosa Cove property to other foreigners who must likewise meet the same ownership criteria. There is no MOP imposed on foreign ownership of land parcels or landed homes at Sentosa Cove.
You may be able to buy a cluster housing project which is a type of 'strata landed housing unit. This is considered restricted properties and will require special approval from the Land Dealings (Approval) Unit. This will take around 6 weeks.
Restricted properties include vacant land zoned residential, landed property including a detached house, semi-detached house, terrace house, including linked house or townhouse, shophouse which is not strata subdivided and is erected on land which has been zoned residential and all apartments within a building or all units in an approved condominium development without the prior approval from the Ministry of Law.
While you're here, check out our step-by-step guide for buying property in Singapore as a foreigner: https://www.propertyguru.com.sg/property-guides/step-by-step-guide-for-buying-property-in-singapore-as-a-foreigner-12304
Hope this answers your question.
Team PropertyGuru Read More