The step-by-step property buying process for foreigners in Singapore typically takes 8–12 weeks and involves confirming eligibility, planning your budget, securing financing, obtaining and exercising an Option to Purchase (OTP), paying Buyer’s Stamp Duty (BSD) and 60% Additional Buyer’s Stamp Duty (ABSD), and completing legal conveyancing with the Singapore Land Authority (SLA).[1][3] For foreign buyers, doing this safely means understanding strict rules, higher taxes, and ensuring your funds and documents are fully ready before you commit, which is exactly where Homejourney’s safety-first tools and verified information help.
This cluster guide focuses on the Step-by-Step Property Buying Process for Foreigners and links back to Homejourney’s main foreign buyer pillar resources such as Types of Properties Foreigners Can Buy in Singapore Types of Properties Foreigners Can Buy in Singapore | Homejourney and Financing Options for Foreign Buyers in Singapore Financing Options for Foreign Buyers in Singapore | Homejourney 2026 . Use this process guide together with those strategy pieces for a complete, safe investment journey.
Step 1: Confirm Eligibility & What Foreigners Can Buy
Before viewing any units, foreign buyers should first confirm what types of properties they are legally allowed to purchase in Singapore.[1][3][6] This avoids disappointment later and ensures every listing you view on Homejourney’s Property Search Property Search is genuinely eligible for you.
Under Singapore’s Residential Property Act and SLA rules:[3][6]
- Freely allowed for foreigners: private condominiums, apartments, strata-titled units, and fully-privatised Executive Condominiums (ECs) that are at least 10 years old.[3]
- Limited landed options: landed homes in Sentosa Cove are generally accessible to foreigners, but landed properties on the mainland (e.g. Bukit Timah, Seletar, East Coast) require SLA’s Land Dealings Approval Unit (LDAU) approval and are rarely granted unless strict criteria are met.[3][6]
- HDB flats: foreigners cannot buy new HDB flats; resale HDB is only possible in very narrow cases (e.g. non-citizen spouse schemes) and usually not as sole owners.[3]
Insider tip: In practice, 95% of foreign buyers I’ve worked with in areas like River Valley, Tanjong Pagar, and Novena end up buying private condos, because approval for mainland landed homes is extremely rare and ABSD is already very high. Start your search by filtering for private condos and older ECs via Homejourney’s projects directory Projects Directory , which highlights foreigner-eligible developments.
Step 2: Assess Budget, ABSD & Total Costs
Once eligibility is clear, the next step is to understand the full cost structure for foreigners in Singapore, not just the headline price.[1][3][4]
Key taxes and regulatory limits (2026)
- Buyer’s Stamp Duty (BSD): payable on all property purchases; tiered up to 6% on higher price brackets (IRAS schedule – check latest rates before committing).
- Additional Buyer’s Stamp Duty (ABSD) for foreigners: 60% on the first residential property as of 2026, payable within 14 days of signing the OTP if the property is in Singapore.[1][3][4]
- Loan-to-Value (LTV): foreigners typically qualify for around 50–70% LTV from banks, subject to income and credit profile.[1][3]
- Total Debt Servicing Ratio (TDSR): total monthly debt obligations must not exceed 55% of gross monthly income, applied to all property borrowers including foreigners (MAS guideline).
For example, a S$2 million River Valley condo with 60% LTV and 60% ABSD means you should prepare roughly:[1]
- Downpayment (40%): S$800,000 (cash only for foreigners, as CPF is not allowed)
- ABSD (60% of S$2m): S$1,200,000
- BSD: approximately S$69,600 based on current IRAS tiers (illustrative; confirm with latest table)
- Legal + valuation fees: around S$3,000–S$5,000
Insider tip: In prime districts like Orchard (D9) and Marina Bay (D1), I often see foreign investors underestimating ABSD cash needs. They focus on the price per square foot (psf) but forget that stamp duties are due within 14 days. Use Homejourney’s ABSD Stamp Duty Calculator & Guide 2026 ABSD Stamp Duty Calculator & Guide 2026 | Homejourney before you negotiate any OTP.
Step 3: Secure Financing & Check Money Flows (Including China Capital Controls)
For foreigners, financial readiness is more than just bank pre-approval; it also includes cross-border funds transfer planning, especially if you are affected by China capital controls and China forex rules.
Bank loan pre-approval
Before you view properties seriously, obtain an In-Principle Approval (IPA) from a bank in Singapore. This gives you a clear maximum loan amount, indicative interest rate, and loan tenure.[1][3]
Banks usually require:
- Passport and valid pass (EP, S Pass, or other visa)
- Latest 3–6 months’ payslips and bank statements
- Employment contract and latest tax returns (2–3 years is common for foreign buyers)[1]
- Credit bureau records (if available) or other proof of good credit
Use Homejourney’s Mortgage Rates page Bank Rates to compare current interest packages safely in one place, and then work with a licensed banker or mortgage broker.
Managing overseas money transfers (especially from China)
Many foreign buyers, particularly from mainland China, Taiwan, and Hong Kong, need a clear plan to transfer money for property under their home country’s foreign exchange and capital rules. For instance, Chinese buyers are constrained by annual USD50,000 equivalent transfer limits per person and strict overseas property China rules, so they often involve family members or overseas corporate structures (subject to compliance with PRC regulations).
Homejourney’s dedicated guide on China Capital Controls & Buying Singapore Property China Capital Controls & Buying Singapore Property: 2026 Homejourney Guide explains practical pathways, documentation commonly requested by banks, and how to align timelines so funds reach Singapore before ABSD and completion are due. Always seek licensed legal and tax advice in both jurisdictions; Homejourney does not provide legal or tax advice and recommends engaging qualified professionals.
Step 4: Shortlist & View Properties Safely
With budget and financing clear, you can now search for suitable units using Homejourney’s Property Search Property Search . Focus on neighbourhoods that match your goals—rental income, own-stay convenience, or long-term capital appreciation.
Popular foreign-buyer clusters include:
- River Valley / Robertson Quay: central, near Great World and Fort Canning MRT, strong rental demand from expats.
- Tanjong Pagar / Shenton Way: walkable to major CBD offices; high investor interest in 1–2 bedroom units.
- Novena / Newton: near medical hubs and good schools; popular with families relocating for work.
Insider viewing tip: When I accompany foreign buyers in areas like Tiong Bahru or Holland Village, we always check the walk from MRT at 6–7pm rather than midday. This reveals real crowd levels, traffic noise, and how shaded the path is. In tropical Singapore, a 7-minute shaded walk feels far shorter than a 5-minute fully exposed one.
Use Homejourney’s projects directory Projects to verify key information for each condo—TOP year, developer, recent transacted prices (from URA data), and whether the project is foreigner-eligible.
Step 5: Negotiate & Secure the Option to Purchase (OTP)
When you find a suitable property, the next crucial step is to secure an Option to Purchase (OTP). This is a legal document granting you the exclusive right to buy the property within a set period (usually 14–21 days).[1][4][5]
Typical private resale OTP terms:
- Option fee
References
