How to buy a property in Singapore, via an Estate Agent, an agent who specializes in overseas property, or if buying a property privately.
Research properties available, such as condominiums, landed properties, and HDB flats, and whether the property is leasehold or freehold.
Check tenancy: If the property is subject to an existing tenancy, request and review the tenancy agreement.
Foreigners must pay stamp duties, including, Buyer's Stamp Duty (BSD), A 1-3% duty based on the property's market value or purchase price. Additional Buyer's Stamp Duty (ABSD): A 30% duty on property purchases for foreigners. The rate varies for Singapore PRs depending on the number of properties they already own.
Foreigners can purchase private properties, apartments, condominiums, villas, but need government approval to buy landed properties like bungalows. Foreigners can only buy Executive Condominiums (ECs) that are at least 10 years old.
The process of buying property in Singapore can be complicated, and it's recommended to work with a reputable agent who understands the market and legal requirements.
Real estate agent - You can use a real estate agent or broker to help you find a buyer, negotiate, and get the best price for your property. Agents typically take a commission of up to 3% of the purchase price.
Marketing - You can use an international website, social media, and third-party listing portals to find your property.
You can work with a team of attorneys, accountants, and real estate agents during the purchase, or a mix of those professions depending on how you wish to buy your property.
Note this information is purely a guide, and if Buying or renting in Singapore, we advise you to seek professional help as relates to your specific needs.
Find out how to list a property in Singapore for sale here.
