Step-by-Step Property Buying Process for Foreigners in Singapore
The step-by-step property buying process for foreigners in Singapore involves checking eligibility, securing approvals where needed, paying stamp duties like 60% ABSD, exercising an Option to Purchase, and completing conveyancing within 14 weeks. This process ensures compliance with regulations from URA, SLA, and IRAS while prioritizing safety and transparency, as Homejourney does for all users.[1][2]
Foreigners, including Taiwan investors in Singapore, can buy condos freely but face restrictions on landed properties requiring SLA approval. Homejourney verifies listings and provides tools like Property Search to build trust from day one. This cluster article details the tactical steps, linking back to our pillar guide on Taiwanese property investment for comprehensive strategy.Taiwan Nationals Singapore Property Investment Guide 2026 | Homejourney
Why Foreigners Choose Singapore Property in 2026
Singapore's stable governance and high rental yields attract Taiwan buyer analysis showing increased interest from ROC nationals seeking safe-haven assets. Current market data indicates condo prices averaging S$1,800-$2,500 psf in prime areas like Orchard or Marina Bay, per URA stats. However, foreigners pay higher ABSD at 60% for first residential properties, making calculated decisions essential.
Homejourney's verified Projects Directory helps ROC Singapore property investors analyze yields and locations without risks. Unlike locals, foreigners cannot use CPF or HDB loans, relying on cash or bank financing under TDSR limits.[1][2]
Step 1: Confirm Eligibility and Property Types
Start by verifying what you can buy. Foreigners can purchase condominiums, apartments, and strata-titled properties without approval. For landed homes, apply to SLA's Land Dealings Approval Unit (LDAU) if you're a PR for 5+ years with economic contributions; otherwise, only Sentosa Cove is accessible.[1][2]
- Review Residential Property Act via URA: No HDB resale for singles; married to SC can be essential occupier.
- Use Homejourney's guide on Types of Properties Foreigners Can Buy in Singapore | Homejourney for specifics.
- Insider tip: Target freehold condos in District 10 (e.g., near Stevens MRT, 5-min walk) for long-term value.
Disbursement from Taiwan requires compliance with ROC capital controls; consult professionals early.
Actionable Checklist for Step 1
- Passport and employment pass valid?
- Check SLA for landed: 5-year PR + contributions required.[1]
- Search verified options on Property Search .
Step 2: Engage Professionals and Budget for Costs
Hire a lawyer experienced in foreign conveyancing (S$2,000-$4,000 fee). Calculate costs: BSD (up to 6% tiered), 60% ABSD on purchase price (e.g., S$1M condo = S$600K ABSD), plus 7-10% agent commission if applicable.[2]
| Cost Item | Estimate for S$1.5M Condo |
|---|---|
| ABSD (Foreigner, 1st property) | S$900,000 (60%) |
| BSD | S$81,600 (tiered) |
| Legal Fees | S$3,000 |
| Total Upfront | ~S$1M+ beyond price |
Use Homejourney's ABSD Stamp Duty Calculator & Guide 2025–2026 | Homejourney and Bank Rates for precise financing under 60% LTV for foreigners.[2]
Step 3: Find and Exercise Option to Purchase (OTP)
Search via Homejourney's safe Property Search . Negotiate price, then pay 1-5% option fee for 14-21 days exclusivity. Sign OTP conditional on approvals if needed (e.g., LDAU for Sentosa).[1]
Taiwan investor tip: Factor wire transfer times (3-5 days from Taiwan banks); use conditional clauses to protect fees.
Step 4: Secure Financing and Pay Stamp Duties
Foreigners get bank loans up to 60% LTV, assessed via TDSR (monthly debt <55% income). No HDB/CPF. Pay BSD/ABSD within 14 days of OTP via IRAS.Financing Options for Foreign Buyers in Singapore | Homejourney [2]
Timeline: 2 weeks post-OTP. Homejourney's Mortgage Rates compares trusted rates securely.
Step 5: Conveyancing and Completion
Lawyer handles title checks, caveats (21 days). Pay balance + duties at completion (8-14 weeks total). Receive keys; register with SLA/URA if required. Post-purchase, consider Aircon Services for maintenance.[1]
- Submit docs: Passport, EP, proof of funds.
- Occupy if MOP applies (rare for foreigners).
- 5-year hold for some approvals.[1]
Common Mistakes to Avoid for Taiwanese Property Investment
Avoid skipping LDAU approval for landed (forfeit fees). Don't ignore ABSD hikes; 2023 measures set 60% rate.[2] Red flag: Unverified agents. Homejourney verifies all for user safety.
- Miscalculating total costs (add 65%+ duties).
- Overlooking TDSR rejection risks.
- Ignoring ROC forex limits for Taiwan buyer analysis.
Seek advice; this is not financial advice. Consult licensed professionals.
FAQ: Step-by-Step Property Buying Process for Foreigners
Q1: Can Taiwan investors buy condos in Singapore?
A: Yes, freely. Check Taiwan Nationals Singapore Property Investment Guide 2026 | Homejourney for yields.[1]
Q2: What is the ABSD for foreigners in 2026?
A: 60% on first residential property, per IRAS. Use ABSD Stamp Duty Calculator & Guide 2025–2026 | Homejourney .[2]
Q3: How long does the process take?
A: 8-14 weeks from OTP to keys.
Q4: Can foreigners get mortgages?
A: Yes, up to 60% LTV. See Financing Options for Foreign Buyers in Singapore | Homejourney .[2]
Q5: Is SLA approval needed for Sentosa?
A: No, foreigners can buy landed there directly.[1][2]
Ready for your step-by-step property buying process for foreigners? Start safely on Homejourney's Property Search and link to our pillar on Taiwanese property investment for full strategy. Your trusted partner for secure Singapore investments.
