Although foreigners were not permitted to own property in Singapore in the Past three years, a decision was made by the Singaporean authorities in 2005 allowing foreigners or ex-pats to own or lease residential units in buildings with 6 stories or greater. This proved to be an excellent decision as a growing number of foreigners are now searching for properties to purchase or lease in Singapore. Properties for foreigners in Singapore can be found in the types of condominium units and apartments which are nonetheless regarded as prime properties due to the exclusivity offered to residents and renters alike.
These components are more than sufficient for families, couples, and singles that are excited about living or having a holiday in Singapore. Top-notch properties for foreigners in Singapore include residential buildings available for sale or for lease in chosen locations like Orchard and Santos, even though there are quite a few places that also provide great deals for potential buyers or tenants in Pasir Ris 8. Restrictions apply to buying bungalows, semi-detached, and terrace homes, but there are loads of condo complexes and other properties for foreigners in Singapore that provide the same comfort as being at a house that are worth investing in.
If you are employed in Singapore and are looking for a place to rent, you can take a look at the property listings in the housing market and select which would fit your requirements. As soon as you have found one, notify your real estate representative who will subsequently prepare a Letter of Intent and pass it on to your potential landlord with a month’s deposit ahead of time. Before signing though, be sure that a diplomatic clause is contained in the contract, since this gives you an opportunity to refund your security deposit in case for any reason you are separated from your work and cannot continue with the lease following 12 months.
On the other hand, properties for foreigners in Singapore which are in the market call for a different procedure. If you are looking to buy a condominium unit or a flat in a building with six stories or higher, then you may do so without delay. But if a property you are interested in is considered as Landed Home bungalows, terrace houses, semi-detached houses or an apartment nestled in a building of less than six stories; permission would need to be granted by the Singapore Land Authority. Your application to Purchase will be reviewed based on if you are a permanent resident of Singapore and how successful you are as a taxpayer. Once they have determined that you qualify, sale of the property will go smoothly.