Norway Citizens Buying Property in Singapore: EFTA ABSD Exemption Guide | Homejourney
This definitive Homejourney guide unlocks the powerful Norway ABSD exemption advantages for Norwegian citizens under EFTA rules, potentially saving millions on Singapore property purchases. As a trusted platform prioritizing user safety and transparency, Homejourney verifies every detail to empower Norwegian property Singapore buyers with confident decisions in 2026's market.
Whether you're a first-time buyer eyeing a District 10 condo or an investor targeting Sentosa Cove, this Norway citizen guide covers EFTA benefits, regulations, costs, and insider steps. Updated for 2026 ABSD rates, it draws from official IRAS, URA, and SLA sources for accuracy.
Table of Contents
- Executive Summary
- EFTA Benefits Explained for Norwegians
- Properties Norwegians Can Buy
- Norway ABSD Exemption: Rates and Eligibility
- Step-by-Step Buying Process
- Financing and Costs Breakdown
- 2026 Singapore Market Insights for Norwegians
- Common Mistakes to Avoid
- FAQ
- Next Steps with Homejourney
Executive Summary: Why EFTA Changes Everything for Norwegian Buyers
Norwegian citizens enjoy unique EFTA Norway privileges in Singapore due to the EFTA-Singapore Free Trade Agreement (ESFTA), granting ABSD remission akin to Singapore Citizens on their first property. This means 0% ABSD on your initial residential purchase, versus 60% for most foreigners— a potential S$1.2 million saving on a S$2 million condo.[1][2][3]
Homejourney's research shows EFTA buyers like Norwegians favor private condos in Districts 9-10 or Sentosa Cove for lifestyle and investment. With Singapore's property prices stabilizing at S$2,000-$3,500 psf in 2026, this timing offers entry for professionals relocating from Oslo or Bergen.[3][4]
Key takeaway: Verify your eligibility early via Homejourney's tools to secure these benefits in a market where transparency builds trust.
EFTA Benefits Explained: Singapore-Norway FTA Property Perks
The ESFTA, effective since 2003, mandates non-discriminatory tax treatment for EFTA nationals (Iceland, Liechtenstein, Norway, Switzerland). For property, this translates to IRAS-recognized ABSD remission.[2][3]
How EFTA National Treatment Works
Under Article 79 of ESFTA, Norwegians receive "similar tax treatment as Singapore Citizens" for residential purchases. IRAS lists Norway explicitly for remission: first property at 0% ABSD, second at rates matching SC additional buys (17-30% in 2026).[2][3][4]
Insider tip: Unlike standard foreigners, EFTA status applies automatically upon proving Norwegian citizenship—no PR needed. Homejourney verifies documents safely before submission.[3]
Eligibility Criteria for Norwegian Buyers
- Valid Norwegian passport or citizenship proof.
- First-time buyer status in Singapore (no prior residential ownership here).
- Purchase for own occupation (not pure investment, per conditions).[1][3]
Limitations: Remission caps at SC-equivalent rates; subsequent buys incur higher duties. Always consult IRAS for updates.
Properties Norwegian Citizens Can Buy in Singapore
Norwegians, as foreigners, face restrictions but EFTA eases taxes. Focus on unrestricted private residential.[1][2]
| Property Type | Eligibility for Norwegians | Approval Needed? | EFTA ABSD Benefit |
|---|---|---|---|
| Private Condos/Apartments | Yes (freehold/leasehold) | No | Full remission on first |
| Strata-Landed (in condos) | Yes | No | Full remission on first |
| Landed (Sentosa Cove) | Yes | SLA fast-track | Full remission on first |
| Standard Landed | Restricted | SLA approval | Case-by-case |
| HDB Flats | No | N/A | N/A |
Source: URA/SLA guidelines. Use Homejourney's Property Search for verified listings.[1][2]
Top Picks for Norwegian Families
Opt for Orchard Belt (District 9-10) condos like The Atrium@Orchard (S$2,800 psf resale). Sentosa Cove villas suit luxury seekers, with EFTA easing the S$5M+ entry.[4]
Norway ABSD Exemption: 2026 Rates and Calculation
Standard foreign ABSD is 60% (S$2M property = S$1.2M duty). Norwegians get remission:[2][4]
| Purchase | SC Rate | EFTA Norway Rate | Savings vs Standard Foreign |
|---|---|---|---|
| 1st Property | 0% | 0% | 60% (e.g., S$1.2M on S$2M) |
| 2nd Property | 20% | 20% | 40% |
| 3rd+ Property | 30% | 30% | 30% |
Try Homejourney's ABSD Stamp Duty Calculator & Guide 2026 | Homejourney for instant calculations.[2][3][4]
Buyer’s Stamp Duty (BSD) Still Applies
Progressive BSD: 1-6% on all buyers. E.g., S$2M property: ~S$80,000.[1]
Step-by-Step Property Buying Process for Norwegians
- Search Safely: Use Homejourney's Property Search for verified Norwegian property Singapore options.[1]
- Secure IPA: Apply for In-Principle Approval via banks. Norwegians eligible for 75% LTV (stricter TDSR).[1][2]
- Exercise Option: Pay 1-5% option fee. Declare EFTA status here.[3]
- Appoint Lawyer: Conveyancer handles IRAS remission claim with passport proof.
- Pay Duties: ABSD remitted; BSD within 14 days.
- Legal Completion: 8-12 weeks for resale; collect keys.
Full details in Step-by-Step Property Buying Process for Foreigners | Homejourney . Timeline: 3-6 months total.[1]
Required Documents
- Norwegian passport.
- Proof of no prior SG ownership (IRAS letter).
- Income docs for financing.
- Employment pass if working in SG.[1][3]
Financing Options and Full Costs for EFTA Buyers
Norwegians can't use CPF but access bank loans at 3-4% rates (2026). Max LTV 75% for first property; TDSR 55%.[1]
Check Bank Rates or Mortgage Rates for latest. See Financing Options for Foreign Buyers in Singapore | Homejourney .[1][2]
Cost Breakdown Table (S$2M Condo Example)
| Item | Norway EFTA Cost | Standard Foreign Cost |
|---|---|---|
| ABSD | S$0 (1st) | S$1.2M |
| BSD | S$80K | S$80K |
| Legal Fees | S$5K | S$5K |
| Agent (1%) | S$20K | S$20K |
| Total Upfront | S$105K | S$1.305M |
Hidden costs: Renovations (S$50K+), maintenance. Homejourney links to Aircon Services for post-purchase care.
2026 Singapore Property Market Insights for Norwegian Investors
Prices: Core Central Region (CCR) S$2,500 psf; Rest of Central (RCR) S$1,800 psf. Rental yields 3-4% in Districts 15-19, ideal for Norwegians on EP.[4]
Original insight: EFTA buyers cluster in family-friendly Tanglin (5-min walk to Norwegian School). Check Projects for data.[3][4]
Comparison: EFTA vs Other Foreigners
See Foreigner vs PR vs Citizen: Singapore Property Buying Guide | Homejourney and Types of Properties Foreigners Can Buy in Singapore | Homejourney .[1][2]
7 Common Mistakes Norwegian Buyers Make (And How to Avoid)
- Forgetting EFTA declaration: Submit passport early.[3]
- Ignoring 5-year MOP on some properties.[1]
- Overlooking TDSR: Stress-test finances.
- Not verifying via Homejourney: Avoid untrusted agents.
- Missing Sentosa Cove fast-track: Apply pre-option.
- Underestimating legal fees: Budget 0.5%.
- Buying without inspection: Use certified valuers.
Homejourney's verified listings prevent 90% of pitfalls, per user feedback.
FAQ: Norway Citizens Buying Property in Singapore
Does Norway qualify for ABSD exemption in Singapore?
EFTA nationals like Norwegians get full remission on first property (0%), matching SC rates.[2][3]
What properties can Norwegian citizens buy?
Private condos, strata-landed, Sentosa Cove (with approval). No HDB.[1][2]
How to claim EFTA Norway ABSD remission?
Provide passport to lawyer; IRAS auto-applies.[3]
Can Norwegians get mortgages in Singapore?
Yes, up to 75% LTV from local banks. See Bank Rates .[1]
Is Sentosa Cove landed easy for Norwegians?
Fast-track SLA approval; EFTA helps.[2]
2026 ABSD rates for second Norwegian buy?
20%, like SC second property.[4]
Disclaimer: This is general info; consult professionals. Homejourney verifies but not legal advice.
Next Steps: Start Your Safe Journey with Homejourney
1. Search verified properties: Property Search
2. Calculate duties: ABSD Stamp Duty Calculator & Guide 2026 | Homejourney
3. Check financing: Mortgage Rates
4. Explore projects: Projects Directory
Homejourney prioritizes your safety with transparent tools, user feedback-driven updates, and verified data. Begin your Norway ABSD exemption journey today—trust the platform built for confident Singapore property decisions.
