Buying Property In Singapore

Singapore is an ideal place for those looking to get the best of both worlds; East and West. This is probably the reason why Singapore is the destination of choice for Chinese and another Asian expat, who wanted their children to get the best education, but still rooted and close to their culture.

There are Pullman Residences are available if you are looking for buying an apartment or residences. You can also check out the freehold residential development located off Newton Road in Singapore.

Here are some of the highlights to be kept in mind when buying property in Singapore.

• Foreigners in Singapore can buy non-landed properties (read apartments and condominiums) without prior approval of the government. This rule is a result of the entry into force that prohibits foreigners from buying property in the lower apartment blocks of six floors or come under the category of condominiums.

But they still need to ask permission from the Singapore Land Authority to buy landed properties such as bungalows, semi-detached houses, and empty plots.

• They are also restricted from buying an HDB shop, a house directly from HDB HDB, HDB resale flats were approved by the HDB and condos were purchased under the Executive Condominium Housing Scheme.

The scheme was introduced for people who want to buy something better rather than an HDB flat, but cannot afford to buy private property.

• Fixed or PR Residents are allowed to purchase HDB flat directly from HDB, provided they form the nucleus of families with Singapore citizen. PR cans also buy HDB flat from the resale market; give them ask at least one occupier as a Singapore citizen or PR.