Buy Landed Property in Singapore
Understanding Landed Property Purchase
Landed properties in Singapore include detached houses, semi-detached homes, and terrace houses. Unlike condominiums, landed homes offer full ownership of both the land and the structure, providing more privacy, space, and long-term investment value. However, they often come with higher costs and maintenance responsibilities.
Eligibility Criteria
Foreigners generally require special approval from the Singapore Land Authority (SLA) to purchase landed property, while Singapore citizens and Permanent Residents (PRs) face fewer restrictions. Approval is usually granted to foreigners making significant economic contributions or purchasing property on Sentosa Cove, the only area where foreign ownership is more accessible.
Financial Planning
Buying a landed property involves high costs, including the purchase price, Additional Buyer’s Stamp Duty (ABSD), legal fees, and maintenance expenses. Banks offer home loans, but financing options differ based on residency status. Singaporeans can get up to 75% Loan-to-Value (LTV), while foreigners often have lower financing limits. Planning your budget and mortgage eligibility in advance is crucial.
Do you need help to buy Landed Property in Singapore?
At Haohaoguo Realty, we are dedicated to making the process of buying landed properties in Singapore smooth and stress-free. Whether you’re a first-time buyer searching for the perfect home, a family needing more space, or an investor looking for premium properties, our experienced team is here to provide expert guidance and personalized assistance every step of the way.
Expert Guidance
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The Buying Process
- Research & Shortlisting – Identify preferred locations, property types, and budget.
- Secure Financing – Get an in-principle loan approval from banks.
- Option to Purchase (OTP) – Pay a deposit to secure the property.
- Legal & Financial Processing – Engage a lawyer for due diligence and finalize financing.
- Completion & Ownership Transfer – Pay the remaining balance, stamp duties, and legal fees before receiving ownership rights.
Guidance related to Landed Property Purchase in Singapore
How to Buy Landed Property in Singapore for Foreigners?
Foreigners looking to buy landed property in Singapore must obtain approval from the Singapore Land Authority (SLA), except for properties in Sentosa Cove, which have more relaxed rules. Buyers should be prepared to pay a 60% Additional Buyer’s Stamp Duty (ABSD) and may face stricter financing limits. Engaging a real estate agent and lawyer can help navigate the approval process, financing, and legal paperwork for a smooth purchase.
Where we can find landed property areas in Singapore?
Landed property areas in Singapore are typically found in residential districts across the island. Popular locations include Bukit Timah, Holland Village, and Orchard for central options, while Serangoon Gardens and Bishan offer more suburban choices. The East Coast features sought-after areas like Katong and Siglap, while Sentosa Cove is a prime option for foreigners. Exploring these neighborhoods can help you find the right location for your needs and lifestyle.
FAQ
Foreigners need special approval from the Singapore Land Authority (SLA), except for properties in Sentosa Cove.
Singapore citizens pay a Buyer’s Stamp Duty (BSD) and may incur Additional Buyer’s Stamp Duty (ABSD) if they own multiple properties. Foreigners pay a 60% ABSD.
For Singaporeans, a minimum of 25% down payment is needed, while foreigners may need to pay more due to financing restrictions.
Landed homes have strong long-term value due to their limited supply, making them a sought-after asset in Singapore’s real estate market.