Korean Citizens Buying Property in Singapore: 2026 Homejourney Guide
This definitive Korean buyer Singapore guide equips South Korea citizens with everything needed to navigate Singapore's property market safely and confidently. Homejourney prioritizes your security through verified listings, transparent processes, and expert verification, making us the trusted partner for Korean investor guide needs.
From 60% ABSD rates to financing limits and step-by-step buying, discover current 2026 regulations, market insights, and insider tips tailored for South Korea citizen property purchases. Whether investing or relocating, Homejourney verifies compliance to protect your investment.
Table of Contents
- Executive Summary
- Eligibility for Korean Citizens
- Property Types Korean Buyers Can Purchase
- Stamp Duties and Taxes (BSD & ABSD 2026)
- Financing Options for Foreign Buyers
- Step-by-Step Buying Process
- Total Costs Breakdown
- Singapore Property Market for Korean Investors
- Common Mistakes to Avoid
- Frequently Asked Questions
- Next Steps with Homejourney
Executive Summary
Korean citizens can buy private condominiums in Singapore without approval, but face 60% Additional Buyer's Stamp Duty (ABSD) on their first property and 65% on subsequent ones, per 2026 rates.[1][2] Cannot purchase HDB flats or new Executive Condominiums (ECs); resale ECs over 10 years old are allowed.[1][3]
Financing caps at 70% Loan-to-Value (LTV) with 55% Total Debt Servicing Ratio (TDSR).[1][2] Homejourney's verified Property Search tools help Korean buyers find compliant properties safely, emphasizing trust and user feedback for confident decisions.
Market favors Districts 9-10 for Korean investors near Korean International School (KIS) and Zion Riverside Korean BBQ, just 10 minutes from River Valley MRT Exit A.[1]
Eligibility for Korean Citizens
As non-PR foreigners, Korean citizens qualify for private properties under the Residential Property Act 1967, administered by Singapore Land Authority (SLA).[1][3] Must be 21+ with valid passport and proof of funds; no prior HDB ownership issues apply.[1]
Key Eligibility Checklist
- Valid Korean passport.
- Proof of funds for downpayment + 60% ABSD.
- Age 21+ for private properties.
- No HDB purchase allowed; focus on condos.[1][3]
- PR status after 5 years eases landed home rules with SLA approval.[1]
Homejourney verifies eligibility instantly via our platform, ensuring compliance and safety. Disclaimer: Consult SLA for latest updates; rules per official Residential Property Act.[1]
Property Types Korean Buyers Can Purchase
Foreigners like Korean buyers can freely purchase condominiums and apartments without approval.[1][2][3][4][5] Strata-landed in approved projects and Sentosa Cove landed require SLA nod; resale ECs >10 years old permitted.[1][5][6]
| Property Type | Foreigners Allowed? | Approval Needed? | Notes |
|---|---|---|---|
| Private Condos/Apts | Yes | No | Unlimited; majority of purchases.[1][4] |
| Strata-Landed | Yes | If in condo project | Gov-approved only.[1][5] |
| Landed Properties | Restricted | SLA approval | Sentosa Cove easier.[1][2][4] |
| HDB Flats | No | - | Prohibited.[1][3] |
| ECs (<10 yrs) | No | - | New/resale under 10 yrs restricted.[1] |
Insider tip: Check URA Master Plan via Homejourney for zoning; avoid non-strata landed outside Sentosa.[1][4]
Stamp Duties and Taxes (BSD & ABSD 2026)
All Korea Singapore property buys incur Buyer's Stamp Duty (BSD) + ABSD. Foreigners pay 60% ABSD on first property, 65% on second+.[1][2]
| Buyer Status | First Property | Second+ |
|---|---|---|
| Korean Citizens (Foreigners) | 60% | 65% |
| PRs | 5-30% | 30% |
Example: S$2M condo = S$1.2M ABSD + ~S$80k BSD (4%). Use Homejourney's ABSD Stamp Duty Calculator & Guide 2026 | Homejourney for precise calculations.[1][2]
Financing Options for Foreign Buyers
Korean buyers access 70% LTV on first property (75% if
Compare rates via Bank Rates or Mortgage Rates . See Financing Options for Foreign Buyers in Singapore 2026 for details.[1][2]
Step-by-Step Buying Process
The process takes 8-12 weeks for condos.[1][2][6] Follow Homejourney's verified steps, linked to Step-by-Step Property Buying Process for Foreigners | Homejourney .
- Budget & IPA: Calculate duties; get In-Principle Approval (1-2 weeks).[1]
- Search: Use Property Search for verified listings.[1]
- OTP: Pay 1% option fee (S$20k on S$2M) for 14-21 days.[1][2]
- Exercise OTP: Pay 4% more (total 5% deposit).[1]
- Conveyancing: Lawyer checks title (S$3-5k, 8-12 weeks).[1][2]
- Completion: Pay balance + ABSD; get keys. SLA for landed (3-6 months).[1][4]
Total Costs Breakdown
For S$2M condo:
| Item | Amount (S$) | % |
|---|---|---|
| Purchase Price | 2,000,000 | - |
| ABSD (60%) | 1,200,000 | 60% |
| BSD | 80,000 | 4% |
| Legal Fees | 5,000 | - |
| Total Upfront | ~1,285,000 + 25% down | - |
Monthly: Property tax ~S$200 (owner-occ), maintenance S$500, aircon service S$200/year via Aircon Services .[1][3]
Singapore Property Market for Korean Investors
Prime Districts 9-10 ideal for Korean investor guide: Near KIS (Holland Village, 5-min MRT from Orchard), Korean eateries at Zion Riverside (River Valley MRT, Exit A, 10-min walk).[1] Explore Projects and Projects Directory for data.
2026 outlook: Stable prices; high-net-worth Koreans favor luxury condos. Compare to Australian Citizens Buying Property in Singapore: Complete 2026 Guide .[1] See Straits Times Housing News for trends.
Common Mistakes to Avoid
- Underestimating ABSD: 60% cash needed upfront; use calculators.[1][2]
- Skipping IPA: Banks reject post-OTP; get early.[2]
- Non-compliant properties: Verify via Homejourney; no HDB/young ECs.[1][3]
- Ignoring TDSR: Factor all debts.[2]
- No maintenance plan: Budget aircon via Aircon Services .[1]
Red flag: Sellers pushing unverified titles. Homejourney flags risks for safety.
Frequently Asked Questions
Can Korean citizens buy property in Singapore?
Yes, condos freely; landed with SLA approval. No HDB.[1][3]
What is ABSD for Korean buyers?
60% first property, 65% after.[1][2]
Financing for Korean investor guide?
70% LTV, 55% TDSR; no CPF.[1][2]
Best areas for South Korea citizen property?
D9-10 near KIS, Zion Riverside.[1]
SLA approval timeline for landed?
3-6 months; faster Sentosa.[1][4]
Can I rent out immediately?
Yes for condos.[1]
Tax for Korean owners?
Progressive property tax; no capital gains.[1]
Types of properties? See Types of Properties Foreigners Can Buy in Singapore | Homejourney .
Next Steps with Homejourney
1. Search verified properties: Property Search
2. Calculate costs: ABSD Stamp Duty Calculator & Guide 2026 | Homejourney
3. Check financing: Bank Rates
4. Explore projects: Projects Directory
Homejourney builds trust through transparency, verification, and feedback-driven safety. Start your secure Korean buyer Singapore journey today. Disclaimer: Not financial/legal advice; consult professionals.
