Foreigners staying in Singapore for extended periods of time may discover that being billeted in a hotel for the duration of their stay can be very expensive. If a foreign national owned a residential property in Singapore, the costly dilemma could have been averted.

Singapore authorities do not prevent foreigners from acquiring residential properties in the country.

The Residential Property Act of Singapore primarily assists Singapore nationals in their purchase of their own residential properties by giving reasonable prices. Moreover, this Act encourages foreign nationals who are thought of by the Singapore government to have made important contributions to the economy of the city-state in their desire to buy residential properties within Singapore.

Non-restricted residential properties can be bought by foreign nationals even with no prior approval from the Singapore government. The following are residential properties that belong to the non-restricted category:

- apartment units within a structure that is not higher than 6 levels – condominium units in authorized condo development properties under the Planning Act – a lease contract on a restricted property; the term should not go beyond 7 years

Expatriates who desire to own all units in an apartment or condo in an approved development site should have prior approval from Singapore’s Minister for Law.

Furthermore, a foreign national who would like to buy residential properties that are classified as restricted cannot do so without prior accreditation from Singapore’s Minister of Law.

The following are categorized as restricted residential properties by the Residential Property Act of Singapore:

- an empty residential land – townhouses, separate or semi-detached houses, or terraced houses standing on residential lands – lots not authorized for condominium development under the Planning Act

If a foreigner wishes to buy a restricted residential property, the foreigner is obliged to fill out an approval form and submit this, along with other required documents, to the Singapore Land Authority. The bureau is responsible for assessing the foreigner’s merits to acquire a restricted residential property and for issuing the approval if it finds the expat’s qualifications unquestionable.

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