If you are a foreigner, the step-by-step property buying process in Singapore starts with confirming what you are eligible to buy, securing financing, budgeting for Buyer’s Stamp Duty (BSD) and Additional Buyer’s Stamp Duty (ABSD), shortlisting safe properties, then exercising the Option to Purchase (OTP) and completing conveyancing before key collection.[1][3][4]
This cluster guide focuses on the Step-by-Step Property Buying Process for Foreigners and supports Homejourney’s main pillar guide on buying property in Singapore Step-by-Step Property Buying Process for Foreigners | Homejourney . It is written for non-residents, Permanent Residents (PRs), and foreign investors who want a safe, transparent path to purchasing private residential property in Singapore.
1. Who Can Buy What: Foreigners, PRs and Property Types
Before you look at listings on Homejourney’s property search Property Search , you must understand what you are legally allowed to buy. This is where many foreign buyers make their first mistake.
1.1 Basic eligibility for foreigners
- Non-PR foreigners: Generally allowed to buy private condominiums and apartments without restriction.[1][3][7]
- Executive Condominiums (ECs): Foreigners can only buy fully privatised ECs that are more than 10 years old.[1][2][3]
- HDB flats: Foreigners (non-PRs) cannot buy HDB flats directly; only certain PR households can buy HDB resale under strict conditions.[1][3][4][5]
- Landed property: Foreigners and PRs need Singapore Land Authority (SLA) approval under the Residential Property Act, except for certain landed homes in Sentosa Cove.[1][2][3][6]
In practice, most foreign buyers end up choosing central and city-fringe condominiums (Districts 1–15, 21) because they have no HDB eligibility issues and are near MRT lines like the Downtown Line and Thomson-East Coast Line.
1.2 Quick decision framework: What can you buy?
Insider tip: If you are a foreigner married to a Singapore Citizen, explore mixed household options carefully with HDB and URA rules before assuming you are ineligible for all public housing.[1]
2. Step 1 – Clarify Objectives and Budget (Before Viewing Units)
In 2024–2025, Singapore private property prices remain high but relatively stable, especially in mature estates like Queenstown, Bishan, and Tampines, and prime central districts.[4][1] For foreigners, the ABSD of 60% on residential property purchases (from the April 2023 cooling measures) is usually the biggest cost consideration.[1][3]
2.1 Define purpose and time horizon
- Own stay: Proximity to CBD (Raffles Place, Marina Bay), schools, and lifestyle hubs like Holland Village or Great World.
- Investment: Focus on rental demand near MRT nodes (e.g. Paya Lebar, Buona Vista, Novena), business parks, and international schools.
- Hybrid: Own stay first, then rental; choose projects with versatile layouts and strong tenant pools Projects Directory .
2.2 Estimate total budget including BSD and ABSD
All buyers pay Buyer’s Stamp Duty (BSD), and foreigners typically pay Additional Buyer’s Stamp Duty (ABSD) of 60% on the purchase price or market value, whichever is higher.[1][3]
Use Homejourney’s ABSD tools to model different price points and scenarios:
- For general ABSD and BSD estimates: ABSD Stamp Duty Calculator and Guide 2025 | Homejourney Singapore
- For Chinese buyers specifically exploring ways to reduce ABSD Chinese exposure within the law: How Chinese Nationals Can Legally Reduce ABSD in Singapore | Homejourney 2025 Gu...
- For detailed ABSD calculation walkthroughs: Homejourney: Guide to ABSD Stamp Duty Calculator and Guide
Disclaimer: ABSD rules, rates and exemptions can change. Always verify against IRAS and consult a licensed tax or legal professional for legal ABSD reduction strategies, especially for Chinese buyer tax planning or other nationality-specific scenarios.
3. Step 2 – Secure Safe Financing (AIP, LTV, TDSR)
Homejourney strongly recommends that foreigners obtain an Approval-In-Principle (AIP) from a bank before signing any Option to Purchase. This protects you from financing surprises and reinforces our commitment to safe, verified transactions.
3.1 Loan-To-Value (LTV) and TDSR for foreigners
Under MAS rules, your maximum mortgage is capped by Loan-to-Value (LTV) limits and the Total Debt Servicing Ratio (TDSR) framework.[4][7][8]
- LTV: Typically up to 75% if you have no existing home loan and meet tenure and age criteria (subject to MAS rules and bank policy).
- TDSR: All your monthly debt repayments (including overseas loans) are generally capped at 55% of your gross monthly income for property loans, based on MAS guidelines.[7][8]
- CPF usage: As a non-PR foreigner, you usually cannot use CPF to pay for the property; expect a higher cash commitment versus local buyers.
Compare bank packages safely on Homejourney’s mortgage rates and bank rates tools Bank Rates Mortgage Rates before committing to any loan.
3.2 Documents typically needed for foreign buyers
- Passport and proof of legal stay (e.g. Employment Pass, S Pass, Dependant’s Pass).
- Income documents: Latest 12 months payslips, employment letter, or 2–3 years tax returns if self-employed.
- Bank statements (usually 6–12 months).
- Existing loan statements (local and overseas) for TDSR assessment.
Insider tip: At CBD branches along Raffles Place and Marina Bay, banks are very familiar with foreign professionals; walk-in consultations are often faster on weekday afternoons than lunchtime peaks.
4. Step 3 – Shortlist Safe Properties (Location, Project, Developer)
Once your financing range is clear, use Homejourney’s verified listings on property search Property Search and projects directory Projects Directory to shortlist units.
4.1 How to evaluate condos as a foreigner
- Location and commute: From popular expat enclaves like River Valley or Robertson Quay, you are typically 10–15 minutes by car to Raffles Place and Marina Bay, and 5–8 minutes walk from major MRT stations (e.g. Great World, Fort Canning).
- Developer and track record: Prefer projects from established developers registered with URA and HDB; this lowers construction and defect risks.
- Rental demand: Areas like Paya Lebar, Buona Vista, One-North, and Novena have strong tenant pools due to business parks, hospitals, and international schools.[4][6]
- Project age and maintenance
References
- Singapore Property Market Analysis 1 (2025)
- Singapore Property Market Analysis 3 (2025)
- Singapore Property Market Analysis 4 (2025)
- Singapore Property Market Analysis 7 (2025)
- Singapore Property Market Analysis 2 (2025)
- Singapore Property Market Analysis 5 (2025)
- Singapore Property Market Analysis 6 (2025)
- Singapore Property Market Analysis 8 (2025)
