The step-by-step property buying process for foreigners in Singapore starts with checking what you are legally allowed to buy, calculating stamp duties (including ABSD and any EFTA ABSD remission), securing financing, and then proceeding through offer, Option to Purchase, legal conveyancing and completion in about 10–14 weeks.
In this Homejourney guide, you will find a clear, Singapore-specific roadmap that keeps your purchase safe, compliant and transparent from day one.
This article is a focused cluster within Homejourney’s comprehensive foreign buyer series and should be read together with our main pillar guide on foreign ownership and regulations Step-by-Step Property Buying Process for Foreigners | Homejourney Singapore .
Why the Property Buying Process for Foreigners Matters in 2024–2025
Buying property in Singapore as a foreigner is very feasible, but it is tightly regulated and significantly more expensive upfront than in many other markets due to stamp duties and financing limits.[1][4][5] As of the latest cooling measures, most foreign buyers face a 60% Additional Buyer’s Stamp Duty (ABSD) on top of Buyer’s Stamp Duty (BSD), making errors extremely costly.[1][4] In practice, that means a S$2.5 million private condo in Holland Village or River Valley can incur over S$1.5 million just in ABSD if you do not qualify for any treaty exemptions.
At the same time, Singapore remains attractive because of its political stability, strong rule of law and transparent regulatory framework.[1][5] Homejourney’s mission is to make this complex process safe and understandable, so you always know the costs, regulations and red flags before you sign anything.
Step 1: Confirm What a Foreigner Can Legally Buy
Before you browse listings, confirm which property types foreigners can buy in Singapore and what is restricted.[1][4][5][8] Homejourney recommends doing this even if you have bought here before, as rules and cooling measures do change.
Key eligibility rules for foreigners
- Allowed without special approval for most foreigners:
– Private apartments and condominiums[1][2][4]
– Strata units in approved condo developments[1][5]
– Executive Condominiums (ECs) that are fully privatised (10 years or older)[1][2][4] - Restricted / require government approval:
– Landed houses (terrace, semi-D, bungalow) on the mainland[1][2][5][8]
– Strata-landed housing that is not part of an approved condo development[1][5]
– Residential land and some shophouses with residential zoning[1][5][8] - Generally not allowed for non-PR foreigners:
– New HDB flats and resale HDB flats (foreigners cannot own these directly)[1][3][4][5]
An important local nuance: landed properties in Sentosa Cove are an exception, where foreigners can buy without the usual Land Dealings Approval Unit (LDAU) approval, although transactions are still carefully scrutinised.[1][5] For other landed homes, you must apply to the Singapore Land Authority’s LDAU and show significant economic contribution.[1][5]
For a deeper breakdown of what you can and cannot buy, see: Types of Properties Foreigners Can Buy in Singapore | Homejourney Guide Types of Properties Foreigners Can Buy in Singapore | Homejourney .
Step 2: Understand Taxes, ABSD & EFTA FTA Singapore Benefits
The biggest financial risk for foreign buyers is miscalculating stamp duties. Before viewing units, you need to know your BSD, ABSD, and whether you qualify for any European Free Trade Association (EFTA) property benefits under the EFTA FTA Singapore agreements.
Buyer’s Stamp Duty (BSD)
BSD is payable on all property purchases in Singapore and is based on purchase price or market value, whichever is higher.[1][4] Rates are progressive, and on a S$2 million condo you should budget roughly mid–five figures for BSD. Always use an updated BSD calculator (Homejourney’s ABSD & BSD guide ABSD Stamp Duty Calculator & Guide 2025 | Homejourney ) and double-check with your conveyancing lawyer.
Additional Buyer’s Stamp Duty (ABSD) for foreigners
Most foreigners currently pay 60% ABSD on any residential purchase, regardless of how many properties they already own.[1][4][9] This is in addition to BSD and is usually due within 14 days of exercising the Option to Purchase (OTP). Missing this deadline can result in heavy penalties or even the deal collapsing.
European Free Trade (EFTA) ABSD remission
Under Singapore’s free trade agreements with certain EFTA countries, some nationals may enjoy more favourable ABSD treatment. In practice, this means selected buyers from EFTA member states can potentially receive EFTA ABSD remission, bringing their ABSD closer to local or PR rates, subject to conditions and documentation.
If you are from Switzerland, Norway, Iceland or Liechtenstein, read our dedicated guide on EFTA Singapore FTA Property Benefits: Switzerland, Norway, Iceland Explained EFTA Singapore FTA Property Benefits: Switzerland, Norway, Iceland Explained | H... and the Liechtenstein-specific guide Liechtenstein Citizens’ Singapore Property Guide: EFTA ABSD Benefits | Homejourn... . Because treaty interpretation and IRAS practice can evolve, always confirm eligibility with a qualified tax adviser or lawyer before relying on any remission.
Step 3: Plan Your Budget, Financing & LTV Limits
Next, quantify what you can safely afford. In Singapore, the Monetary Authority of Singapore (MAS) sets Loan-to-Value (LTV) and Total Debt Servicing Ratio (TDSR) limits, which banks must follow.[4][6] While exact percentages can change, foreigners often face conservative LTV limits and stricter income documentation requirements.[6]
Key Singapore financing concepts (for foreigners)
- LTV limit: The maximum loan as a percentage of the property value; the rest must be paid in cash or equity.
- TDSR: Caps your total monthly debt obligations (including overseas loans) as a percentage of your gross monthly income, typically around 55%.[4][6]
- MSR: A stricter ratio that applies mainly to HDB and EC buyers; most foreign buyers in private condos are primarily governed by TDSR.
- CPF usage: Non-PR foreigners generally cannot use CPF, so your entire downpayment and stamp duties must be paid in cash.
Because different banks treat foreign-sourced income differently, Homejourney recommends checking current mortgage packages via our bank rate tools Bank Rates and reading our dedicated piece on Financing Options for Foreign Buyers in Singapore Financing Options for Foreign Buyers in Singapore | Homejourney . For complex cross-border income structures, engage an experienced mortgage broker or bank officer early.
Step 4: Shortlist Neighbourhoods & Projects Safely
With budget and eligibility confirmed, you can shortlist projects. This is where local, on-the-ground knowledge matters.
Foreign buyers often focus on central and city-fringe districts like:
– Orchard / River Valley (Districts 9 & 10): Freehold and 99-year condos from about S$2,500–3,500 psf in 2024–2025 for mid-range developments, with easy access to Orchard MRT and Great World MRT.
– Tanjong Pagar / Marina Bay (CBD fringe): Popular with expatriates who work in Raffles Place and Shenton Way; good mix of one- and two-bedroom units.
– East Coast / Katong: Favoured by families for larger unit sizes and lifestyle amenities along East Coast Park; around 10–15 minutes’ drive to the CBD outside peak hours.
A useful local tip: when viewing condos near MRT lines like the Thomson-East Coast Line or Downtown Line, check both day and evening noise levels if your unit faces tracks or major junctions. Many central condos are just a 3–5 minute walk from MRT exits, but street-level noise and bus interchanges can impact long-term comfort.
Use Homejourney’s property search Property Search and projects directory
References
- Singapore Property Market Analysis 1 (2025)
- Singapore Property Market Analysis 4 (2025)
- Singapore Property Market Analysis 5 (2025)
- Singapore Property Market Analysis 8 (2025)
- Singapore Property Market Analysis 2 (2025)
- Singapore Property Market Analysis 3 (2025)
- Singapore Property Market Analysis 9 (2025)
- Singapore Property Market Analysis 6 (2025)
