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Anonymous
Looking for own-stay and investment property
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Markus
14 Nov 2021
Real Estate Consultant at Propnex Realty
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Residential properties:
*FYI: For property purchases, a Permanent Resident (PR) is considered a foreigner. So as long as you're not a Singapore Citizen, you'll be considered a foreigner when buying properties.
Commercial properties:
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For residential properties, your choices are limited to:
1. Condominium or Apartment unit
2. Strata landed house in an approved condominium development
3. Executive condominiums after privatization (crossed 10 years in age)
If you are married to a Singaporean citizen, you can buy a resale HDB in the open market. Otherwise you can only buy a resale HDB 3 years after you received your PR status.
You can buy a landed home not exceeding 1800sqm in Sentosa. However you will still need to obtain approval from LDAU (Land Dealings Approval Unit). Approval is very likely and will be valid for a year. It’s recommended to apply for in-principle approval before shopping. You must also take note that such houses can only be used for personal occupation and cannot be rented out.
Landed houses outside of Sentosa will require special approval. (James Dyson did it)
As a foreigner, you will be subjected to 20% ABSD (additional buyer stamp duty) for every residential property you purchase (5%/15% if you are a PR). Selling within 3 years of purchase will incur seller stamp duties too.
Alternatively you may look at commercial properties too. They are not subjected to any ABSD.
1. Shophouses for pure commercial use (not mixed residential and commercial). High rental demand, high yield, and good store of value.
If you require personalized advice I can be reached on Instagram @0xmarkus!