Singapore Most Exclusive Waterfront
Life-Style Living: SENTOSA COVE

What is non-restricted residential property under the Residential Property Act?


In general, foreigners are not restricted from buying any apartment within a building; any flat or dwelling-house in an approved condominium development under the Planning Act.

However, a foreign person is not allowed to buy all the apartments within a building or all the units in the condominium development.

What is restricted residential property under the Residential Property Act?

Foreign persons (including natural persons, companies and societies) are restricted from purchasing restricted residential property within the meaning of the Residential Property Act.

The followings are classed as restricted residential property:

a. Vacant residential land

b. Landed property [i.e detached house, semi-detached house, terrace house (including linked house or townhouse)]

c. Landed property in strata developments which are not approved condominium developments under the Planning Act

Approval will have to be obtained from the Minister for Law through the Land Dealings Unit (LDU) for the purchase of a restricted residential property.

How is a foreign person defined as under the Residential Property Act?

Under the Residential Property Act, a foreign person is defined as a:-

a. Person who is not a Singapore citizen

b. Foreign Company

c. Foreign Society

How do I obtain the necessary approval for the purchase of a restricted residential property?

If you are a foreign person and is interested in purchasing a restricted residential property,please visit LDU website.

Eligibility Criteria for Purchase of Sentosa Cove Residential Properties

There are several scheme by which foreigners wanting to purchase properties at Sentosa Cove can apply for approval.

These schemes are unique to this development on Sentosa Island. For more details click this link.

What is the maximum financing (loan) amount?

As a foreigner earning foreign income, you can loan up to a maximum of 80% of the purhcase price of the property subject to property valuation by the lenders. From our experience, majority of our clients secure loans of 70% with no problem.

What are the types of bank loan available?

The loan can be fixed rates or floating rates.For more details please contact me.

What are the other expenses involved in investing in Singapore properties?

a. Legal fee

b. Stamp Duty

c. Agency fee where applicable

d. Renovation costs

e. Furnishing costs

f. Income Tax (If you intent to rent your property)

What are the requirements for getting approvalto purchase a residential property by a company?

To be able to purchase or own any residential property in Singapore, a company must obtain a Certificate of Clearance from the Controller of the Residential Property through the Land Dealings Unit.

The requirements for getting a Clearance Certificate are:-

a. There should be Singaporean on the Board of Directors and shareholders

b. All directors and shareholders are citizens of Singapore

c. The property should be intended for residential purposes only

Is this a good time to invest in Singapore properties?

In the mid to long term horizon,the property market is expected to be on the uptrend beyond 2010.

Although the market have been more than dazzling for the last 12 months,there is still upside potential.The market is currently taking a breather.Therefore it is an opportune time to invest as the prices is now steadily recovering from the last downturn in 2000. For more evidence of expected property momentum,click this link.

Whether it is for immediate rental return or capital appreciation,we will provide all the services to ensure that your property is well taken care of to maximise return whilst you are located on the other side of the world.

a. Keep you updated on the local market movements and government's policies

b. Assist to lease your property

c. Assist in upkeeping and maintaining your property

d. Advise you of other potetnial investment opportunities